RLB Blog

At the date of death As a general rule, when an individual passes away, they are deemed to have disposed of their assets on their date of death at fair market value (“FMV”). As a result, any accrued gains on investments held in non-registered accounts, and the full value of certain registered accounts, such as registered retirement savings plans (“RRSP’s”) & registered retirement income funds (“RRIF’s”), typically must be included as income on the deceased’s terminal income tax return.

Being asked to be the Executor of a Will (or the Executor of an Estate) is one of the greatest possible honors you can receive. It is a huge sign of trust bestowed upon you by the friend or family member in question. At the same time, being an Executor can require an enormous amount of work—becoming almost a full-time job in some cases.

Deciding to leave a bequest/legacy can be a great way to support a cause you care about.

Family Trusts can be confusing to understand and therefore making it difficult to plan on how to utilize their characteristics to the best of their capabilities. This is why we have taken some commonly asked questions and shed the light on the Inter vivos (Family Trust) world.