Tax implications of owning a recreational property

In this article, lawyer Douglas Gray goes into some detail about taxation of persons who own recreational properties when those properties are sold or the owner passes away. Taxation is one of the biggest challenges for a family trying to complete its estate plan with a recreational property in the mix. There are other issues too, as I've blogged about before, but the taxes and their impact on your estate are definitely something you have to consider. Click here to read the article. And please, always make sure that you crunch YOUR numbers with your accountant before relying on general advice.