Practical, real-world information about wills, estates, inheritance, executors, and elder law in Canada
Thursday, August 11, 2011
Do your kids know about money?
Posted by
Lynne Butler, BA LLB
Have you considered how your child's financial acumen will impact the family wealth? A surprising number of well-off families haven't addressed money issues with their children. This article by Tom McCullough in http://www.capitalmagazine.ca/ gives some ideas about what parents should be communicating to the kids, and why it's so important. Click here to read the article. The attached photo is also from http://www.capitalmagazine.ca/ .
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My husband is the owner of our property which is our principle residence.We have a grown son , If my husband dies who inherits that as a tax free, do I have to pay tax if I want to sell it after a while . What happens to his mortgage in that case.
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