Estate Taxes

Planning for Estate Taxes

When a person passes away, most of their tax obligations will be fulfilled by their estate.  This includes capital assets such as property, which is considered to be "sold" following a person's death.   These assets will be taxed under capital gains tax laws and rates, excluding a personal residence which is exempt from capital gains taxation.   Beneficiaries of money accrued in a Registered Retirement Savings Plan (RRSP) or Registered Retirement Income Fund (RRIF) will be required to pay personal income taxes on their financial inheritance unless the beneficiary is a spouse or disabled child. Tax planning is a critical part of estate planning.  It can help minimize your tax liability and ensure there will be enough income on hand to pay any remaining obligations.  Contact aWinnipeg estate planning lawyer to have your estate and tax situation thoroughly reviewed.  A knowledgeable attorney can give you sound legal advice regarding any tax issues that pertain to your estate, and provide valuable legal representation.

Estate Taxes Lawyer in Winnipeg

Assiniboia Law Office is a highly skilled estate planning firm that can ensure your wishes will be honored and upheld after your death.  We have helped individuals and families for over 20 years with important legal documents such as wills and trusts, as well as estate matter such as taxation.  Our firm can be counted on to protect your interests and ensure your estate plan is structured to reflect you specific needs and desires. We will provide assistance in reducing your estate tax obligations through:
  • Asset ownership restructuring
  • Beneficiary designations
  • Trusts
  • Life insurance policies
Attorneys at our office can be relied on to skillfully guide you through the estate planning process.  We are well-versed in estate laws, and can help lessen your tax consequences.