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Lilly passed away last year leaving all of her assets to her husband Larry. At the time of her passing, she held an investment portfolio
Lilly passed away last year leaving all of her assets to her husband Larry. At the time of her passing, she held an investment portfolio with a fair market value of $1,000,000 and an adjusted cost base of $500,000. As her executor, Larry elects to transfer the investment portfolio at fair market value. Why would Lilly choose to do this? Lilly is in possession of capital loss carry forward credits Because capital gains rates will be decreasing Larry has ample RRSP room Lilly wanted Larry to donate a sum of money to a charity of his choosing
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