Is There Inheritance or Death Tax in Canada?
In Canada, there is no inheritance tax or death tax. All income earned by a deceased person is taxed on a final (terminal) tax return.
Joint Tenancy and Intention to Sever
As practitioners in this area, we try to highlight evidence of intention. We often advise clients to be clear in the terms of their Will, what their intentions are with regard to specific assets and/or beneficiaries.
What I Wish I’d Known Before I Was Dead: The Importance of Having a Will
If you live in Alberta and you don’t have a will, congratulations! You’re safely in the majority. A January 2018 report by the Angus Reid Institute shows 55% of Albertans have not made a will. Whether Albertans believe they’re too young to worry about a will, that they don’t have any assets worth the trouble, or that getting a will is too expensive, most of us have not formally written down what should happen when we die.
