Inheritance Discussions, Offers & Promotions

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  • The value of an inheritance at different times in our life.

    If you could choose the amount and timing of receiving an inheritance, which option would you prefer? (assume all amounts are adjusted for inflation). NB. This poll question was posted recently on Twitter by Nick Maggiulli, a personal finance blogger ...

    • ElBorak
    • Aug 1st, 2022 8:03 pm
    • Forum: Personal Finance

  • Avoiding inheritance taxes?

    ... some money (which I inherited) for a year. When I went to the office to sign papers I inquired how can I leave money for my children and avoid inheritance tax I was told they can sign in to my account. I'm interested how accurate is this information? Are there ways to do that. Or is Canada ...

  • Home inheritance - black mold

    My parents will likely pass away in the next 10 years or so and the home will be mine, but the home is not well maintained. The biggest issue is black mold in the basement Could serious damage be done to the foundation if things like mold are left unchecked? I will do a quick reno and flip is the go...

    • Madal123
    • May 8th, 2022 3:14 pm
    • Forum: Real Estate

  • Investing inheritance

    Hi folks,Where can one invest an inheritance for about 3 months while funds are divested to beneficiaries?Thanks,Jps permission has been granted to executor to doso

  • USA wants to emulate Canada's inheritance laws

    Some interesting characteristics of the US estate laws: Assets are not deemed to have been sold the day someone dies There is a 45% inheritance (death) tax on individual estates in excess of $12M There is no inheritance tax if you leave your estate in excess of $12M to a charity, similar ...

    • taxrage
    • Nov 9th, 2021 1:51 pm
    • Forum: Personal Finance

  • Small Inheritance Received by Children (Under 18)

    My children, who are under 18, received a small inheritance from a relative who passed away. The executor of the will sent the inheritance money to me to manage on their behalf. I have RESPs set up for each of my children, so my original thought ...

    • jarfgames
    • Sep 16th, 2021 1:32 pm
    • Forum: Personal Finance

  • Inheritance advise

    My Dad passed away on May 4th.... he was 93 and lived a good long and amazing life. Veteran who was wounded in Korea but never talked about the war much. My share will be about $300,000. We have a mortgage of $190,000 that we can pay off with the money. I keep reading different things about paying ...

  • Avoid Capital Gains Tax & Probate Fees from Inheritance

    Hi all, before I get flack about this question I'm asking about avoiding capital gains tax (not evading), i.e. minimizing tax. Here is the scenario, parents have bought an investment property (second property), they have not closed on it yet so there is time to add me on title (if there is a benefit...

    • JasonC340
    • May 30th, 2021 10:28 am
    • Forum: Personal Finance

  • Inheritance tax on riff/liff?

    Relative had spouse die recently and inherited their riff/liff funds. Now the bank sent tax receipts for the full amounts inherited. The money is still in the rrif/liff and being withdrawn monthly. Now is this the gov't double dipping on taxation? They already pay tax on the money being withdrawn mo...

    • cheapmeister
    • Feb 22nd, 2021 2:21 pm
    • Forum: Personal Finance

  • Diagnosed diabetes after COVID19 recovery

    I was tested positive in April and now I am fully recovered However, after my recovery, I went for blood test and was very unfortunately have blood sugar level between 7.5-8.0 twice. I did a blood test in January and my level was only 6.5 I am wondering whether covid19 will trigger diabetes. Btw, my...

    • googlemap
    • May 16th, 2020 8:54 pm
    • Forum: Health & Wellness

  • Questions About Selling a Foreign Property / Unsure About Inheritance Status

    ... the sale will be taxed in Peru (confirmed by our lawyer there), but here are my questions: - Will the money generated from that sale be considered inheritance under Canadian law, even though there's no will? If so, I'm assuming no tax should be paid when it comes here, correct? - If it's not considered ...

    • MarcoM700
    • Sep 11th, 2019 11:46 am
    • Forum: Personal Finance

  • Inheritance money - what to do next? suggestions please

    ... I quit my job to look after my father who was not doing well. Long story short, unfortunately father passed away recently and left for me an inheritance of 900k in cash plus some properties in another country (paid, no mortgages). Now, I'm back in town and currently with no job. My situation ...

    • Tr2222
    • Jul 29th, 2019 7:27 pm
    • Forum: Investing

  • Inheritance - Fees and taxes

    Assuming a set of parents are looking to pass on their assets to their kids (house, stocks, bank accounts, etc....) upon passing, what kind of inheritance fees/taxes are the children looking at? Follow up question will be how to avoid/minimize these costs?

    • michiebaby
    • Jul 22nd, 2019 11:32 am
    • Forum: Personal Finance

  • setting up a will

    Is Will kit at staples the most cost-effective way to do a will ? I got two children, i want to ensure in case of accidents, all my assets belong to my wife, and if in case accident to both parents, assets belong 100% to my children. I assume i will need at least 1 will exectioner while my children ...

    • love0715
    • May 2nd, 2019 12:53 pm
    • Forum: Parenting & Family

  • rrsp and income tax

    i will be coming across some inheritance soon, its most likely nothing big, just 2-3 years of my annual income. I have maxed out my TFSA, currently no debt. I have zero contribution in rrsp. the maximum contribution for rrsp is 18% per ...

    • kjc123
    • Feb 9th, 2019 2:32 am
    • Forum: Personal Finance

  • Inheritance question - Step family

    Inheritances have never worried me since I know it is something that would come when Im most likely in my 60s, but my dad is in poor health and had cancer twice already, while she is younger than him and in good health. I am wondering if anyone knows if my dad dies, can she pull equity out of the ho...

    • Mitts87
    • Dec 27th, 2018 11:31 pm
    • Forum: Personal Finance

  • Inheritance from another country? Is that taxed?

    Recently realized gonna be inheriting some money, not alot, approximately $100k CAD, can the government tax that if we bring it back to Canada? Don't want to make a wrong move

    • JoJoC93704
    • Aug 19th, 2018 10:15 pm
    • Forum: Personal Finance

  • Pension plan - Kids inheritance? Confused and need your advise

    ... kids..... Had he been contributing to RRSP and TFSA account instead of pension plan for 30 years, his kids would have received good amount as an inheritance.. My line of work is in demand and i believe i can get a job in private sector with same salary (or maybe little more) and take a lump-sum ...

    • Salute
    • Aug 16th, 2018 9:13 am
    • Forum: Personal Finance

  • What do you think of this potential tenant? No job - inheritance

    Hey guys! So I have this potential tenant that visited my condo and is very interested and is ready to sign a 1 year lease. From what we discussed during the visit and a list of questions I sent her by e-mail afterwards, she doesn’t currently have a job but apparently just inherited some money allow...

    • Malkavian
    • Apr 18th, 2017 2:53 pm
    • Forum: Real Estate

  • Inheritance - Estate Law? Help?

    A friend of mine, sadly - her mum recently passed away and she's not exactly sure what to do. The executor of the estate is her aunt and the estate is apparently valued at $132K. She said her aunt told her that Ontario will tax half of that. In addition, in the will - between the two sisters (her Mu...

    • AjayTo
    • Nov 18th, 2016 11:33 am
    • Forum: Personal Finance

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