Your last name doesn’t need to be Hilton to inherit a fortune anymore—at least not in Canada. According to a study conducted by BMO Investorline, Canada is in the midst of experiencing the largest intergenerational wealth transfer in history, with an estimated $1 trillion being transferred over the next two decades. The financial forecast looks favourable for the Baby Boomers who make up the majority of those receiving the funds, as they can look forward to inheriting an average amount shy of the $100,000 mark. Not all estates are planned equally, however, with assets ranging from stocks and securities to land and real estate investment, questions surrounding Canada Inheritance Tax rates and Capital Gains arise.
You’ve Inherited Some Real Estate. Now What? | HighGate Properties | Toronto Property Management