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Cottage in the Family

As values of cottages have sky rocketed over the last decade, many cottage owners face the reality that upon their demise, their children may not be able to keep the cottage in the family. Capital gains taxes are payable upon the last death of a husband and wife. These taxes can be tens or hundreds of thousands of dollars. Often the surviving children have to sell the cottage to pay off the estate taxes.

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You Want To Keep The Summer Cottage For The Family - pdf file

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