W3 Flashcards
1
Q
In live tenancy you can:
A
Pass property to your kids (pay the taxes) but have the right to use the property while you are alive.
2
Q
The exam will include:
A
Capital gain or equalization calculation.
3
Q
What is equalization payment?
A
Any property acquired (or increased in value) during the relationship must be split 50/50 so there is a payment to make it even (the net worth acquired).
4
Q
Does the end of a relationship (common law or marriage) end a will?
A
No.
5
Q
A
