Four mistakes to avoid when you are cottage succession planning

Estate planning lawyer Peter Lillico outlines four common mistakes that property owners make when they are cottage successing planning and how to avoid them.
Have a cottage succession plan is crucial for handing down the cottage. There are a lot of unique tax considerations and scenarios depending on your situation. Watch the video to learn how to navigate the legal and tax side of estate planning.

[@markelliott8112]

Excellent presentation. I like how Peter gives the problem but also the solution!

[@charliebezoski450]

Great video lots of food for thought - thank you

[@virginiaalbright7460]

Excellent presentation. Thank you so much.

[@torontowhiffofgrape4594]

It was a great presentation but your choice to not include the complete answer to the last Q&A question at 1:05: - So what happens after the 21 years of that sprinkling trust? - was most annoying. Can the video be reposted with it included. thanks

[@andrewzyp5675]

What do you think about the trust reporting rules now vs. EAT or the idea of protecting the cottage in a sprinkling trust? There is an administrative burden as well as a financial one with the reporting requirement.

[@cottagelife]

Hello, we've sent Peter your question and will get back to you.

[@user-wy2kk1oe7b]

On in in😮

[@virginiaalbright7460]

What is the email to request the information about principal residence and capital Gaines please?

[@cottagelife]

Hello, the information is available in our Family Matters newsletter. The information about capital gains is in email number four. The link to subscribe is here: get.cottagelife.com/family-matters/