# Estate Tax Planning



## benc7531 (Sep 19, 2012)

Can anyone please answer this as I have a assignment due in 2 hours! I'm in desperate dying need, helppp!!

1.John is going to die and has shares worth $65,000 and a house worth $450,000 and has 2 sons. What is the best way to prevent taxes to sons?
(7 Marks)


2.John buys cottage for $15,000, when he dies he'll give the cottage to the wife worth now $35,000.
John buys cars for $10,000 now worth $2,000 and gives it to wife.
John buys shares for $5,000 now worth $10,000 and gives to wife.

How are these taxed if he had spousal trust and how much are they each. How much are they if he didn't have spousal trust.
(13 Marks)

Just want to thanks everyone in advance for helping out!


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## Toronto.gal (Jan 8, 2010)

benc7531 said:


> Can anyone please answer this as I have a assignment due in 2 hours!


R U 4 real? :rolleyes2:


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## Four Pillars (Apr 5, 2009)

Oh c'mon T.Gal - where's that helping spirit? :|

To the OP:

#1 - Donate it all to charity.

#2 - He should divorce the wife and give that stuff to charity.

Hope that helps!!


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## caricole (Mar 12, 2012)

benc7531 said:


> Can anyone please answer this as I have a assignment due in 2 hours! I'm in desperate dying need, helppp!!


These seems questions for an EXAMEN and not for real life situations

The pressing for an immediate answer seems way out of line

Nice try..:hopelessness:


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## marina628 (Dec 14, 2010)

I look forward to hiring him as my Financial adviser in 4 years


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## caricole (Mar 12, 2012)

marina628 said:


> I look forward to hiring him as my Financial adviser in 4 years


Calm down

His «PROFESSOR» seems to be a bum

65k stock..«NO COST» LOLOLOL

450K house, no mention of PRINCIPAL RESIDENCE or INCOME REAL ESTATE

Image the poor kid and the value of HIS DIPLOMA

In Quebec we would sai...the professor must be A LIBÉRAL...exept if he is from OTTAWA then he must be CON-SERVATIVE and working for THE REVENUE AGENCY....:hopelessness::apathy:


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## marina628 (Dec 14, 2010)

What is amazing is he has assignment in 2 hours and resorting to internet for answers .Hopefully if he is legitimate student this will wake him up to get serious about his work and I agree the profession better give much more info .I would sell house which is principle residence and not subject to taxes and wire it all to Casino Niagara then play few hands of $5000 blackjack then have casino send money back to father where he can split it between the two sons.Casino tracks transactions over $10,000 but since winnings are not taxed you get this done tax free


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