Q: Hi
Looking at my 96 year mother's Investment accounts, when she passes away, the estate is going to get nailed with this new capital gains tax. My mother is a buy hold type of investor having some stocks for 30 plus years.
Then you add cottages into the mix look out scout the estate is going to get nailed. Am I correct?
If the so called generation that was to receive a vast fortune with this new rule will be getting a lot less is this correct?.
In my case I am 68 have 1.5 million in a RRSP's and 2 million in cash. I receive 4 indexed pensions and have zero debt
Would it be wise in my situation (and others in this situation) to start withdrawing form my RRSP and setting up accounts for my children. Also start selling my mother's stocks that are up 300%, before this new budget become law.
Your comments and possible suggestions would be greatly appreciate.
Thanking you
Mike
Looking at my 96 year mother's Investment accounts, when she passes away, the estate is going to get nailed with this new capital gains tax. My mother is a buy hold type of investor having some stocks for 30 plus years.
Then you add cottages into the mix look out scout the estate is going to get nailed. Am I correct?
If the so called generation that was to receive a vast fortune with this new rule will be getting a lot less is this correct?.
In my case I am 68 have 1.5 million in a RRSP's and 2 million in cash. I receive 4 indexed pensions and have zero debt
Would it be wise in my situation (and others in this situation) to start withdrawing form my RRSP and setting up accounts for my children. Also start selling my mother's stocks that are up 300%, before this new budget become law.
Your comments and possible suggestions would be greatly appreciate.
Thanking you
Mike