Beware Of Tax Issues Around Bequeathing Cottage

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    For many families, the cottage is a proud piece of heritage that holds fond memories and maintains family ties. However, in leaving the cottage to their children, owners need to be aware of potential tax consequences and prepare ahead to ward off potential family disputes among their children once they are gone. Christine Van Cauwenberghe, vice-president, tax and estate planning, with Investors Group Financial Services Inc., discusses the issues and possible solutions in the article, ‘Cottage Planning,’ available at the Private Wealth Canada website.