Estate Planning For The Bc Farmer

Author :
Publisher :
ISBN 13 :
Total Pages : 143 pages
Book Rating : 4.:/5 (933 download)

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Download or read book Estate Planning for the B.C. Farmer -- 5th Ed written by and published by . This book was released on 1996 with total page 143 pages. Available in PDF, EPUB and Kindle. Book excerpt: Estate planning is important for British Columbia family farms since farming is a particularly capital-intensive industry. Estate planning deals with all aspects of the accumulation, use, and distribution of a person's assets, and includes the provision for an orderly and equitable distribution of assets during lifetime or on death; provision of adequate retirement income; minimisation of tax; and maintenance of sufficient liquidity to pay taxes and other costs at death. This guide begins with an introduction on the basics of estate planning and on will planning. It then provides information and guidance on various aspects of estate planning and avoidance of problems that may occur. Sections of the guide cover the significance of business arrangements that may affect estate planning; the rules that relate to selling the farm during the owner's lifetime; gifts to the family; transferring the farm to the family through the will; the capital gains deduction; retirement income planning; the use of companies in estate planning; life insurance; implications of family law in estate planning; administration of the estate; and some common estate planning problems and their solutions. Appendices include a glossary, a table showing intestate succession, and examples illustrating points raised in the text.