It’s one of the great cautionary tales in financial history. For accountants and wealth managers, it is equal parts baffling and unsurprising. How one of the United States’ greatest industrial families squandered an immense fortune estimated at around $140 billion in today’s dollars (but potentially much more) is difficult to fathom. But the Vanderbilt story […]
The barriers to making wealth multi-generational Read More »
Most estates and trusts are not allowed to claim the principal residence exemption (“PRE”). As the Canada Revenue Agency notes in explaining how the PRE functions, “When you sell your home or when you are considered to have sold it, usually you do not have to pay tax on any gain from the sale because
Beneficiaries of trusts and new flipped property rules Read More »
Looking to transition your business to the next generation so you can enjoy retirement, or simply because you’ve decided that it’s time to hang up the entrepreneurial reins? You may want to take some lessons from the popular HBO series Succession to ensure things don’t go seriously awry, creating irreparable family rifts—and even loss of
Business succession: Do your kids really want to take over the family company? Read More »
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Adams + Miles LLP
Chartered Professional Accountants
Disclaimer
Toronto Location
2550 Victoria Park Avenue Suite 501,
Toronto, ON M2J 5A9
T: (416) 502-2201 F: (416) 502-2210
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