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Estate Tax

Generation Skipping Transfer Tax on Gifts from Grandparents to their Grandchildren

November 19, 2013

For a U.S. taxpayer, gifts made to, and estates left to, grandchildren and great-grandchildren are subject to the Generation Skipping Transfer (GST) Tax, along with Gift Tax and/or Estate Tax. In order to answer the question of why gifts or bequests made to a grandchild need to be taxed additionally, our tax professionals have prepared...

estate taxes

Canadian Capital Gains and Estate Taxes

June 23, 2011

A deceased individual is considered to have disposed of each capital property owned by him/her immediately before death and may realize capital gains and/or losses. If the total realized and deemed allowable capital losses for the year exceeds realized and deemed taxable capital gains for the year, the losses may be deducted in full, first...