Vacation properties go by many names: cottage, chalet, camp, cabin or secondary home, for example. For many Canadians, regardless of what you call it, these types of vacation properties are a source of great personal enjoyment. Some owners may feel strongly about passing their vacation property to the next generation; if that's the case, it's important to consider how best to transfer ownership to other family members. This article reviews various tax implications and strategies that can be used in passing ownership of your vacation property to the next generation. 

Click here to read the full article

If you have questions about how to plan for the future of your cottage or any other aspect of your family's succession planning, please feel free to reach out to us anytime. 

"How will you replace your current income in retirement?"™