Intergenerational Wealth Transfer: Property Transfer Considerations
We are in the midst of one of the largest intergenerational transfers of wealth in history. For legal practitioners this means clients will often approach you with legal concerns that involve intersecting areas of law. Real Property law and Wills and Estates are two common areas of intersection. Join Kayla Thompson, a wills and estates associate with Duncan Craig LLP and Mae Chow, a partner at Duncan Craig LLP practicing in the areas of real estate and estate planning, for an overview of legal considerations related to intergenerational transfers of property. Lawyers are often approached to assist with transfers of land between family members for nominal amounts of money or as a gift. This session will review the general implications when land is sold for a dollar and compare this with the alternative result when using a gift. Capital gains reserves for the sale and the use of promissory notes will be discussed as well as options for structuring a gift in conjunction with an estate plan. Our presenters will also briefly touch on the topic of the farm rollover rules.
SPEAKER
Kayla Thompson (Associate, Duncan Craig LLP)
Mae Chow (Partner, Duncan Craig LLP)
MEETING DETAILS
On-demand. Originally presented on Tuesday, June 27, 2023.
MEETING PRICE
Full Subscribers: No charge | Webcast subscribers: No charge | On-Demand Subscribers: No charge | Non-Section Subscribers: $15.00 | CBA Law Student Members: No charge
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