2. How do I structure my support?<\/strong> Support can take many forms, including gifting cash, loaning funds, co-signing a mortgage or purchasing a property in your own name – each with different tax and family law implications.* Remember, gifting means giving up control. Smaller, ongoing support may allow the recipient to leverage tax-advantaged tools like the Tax-Free Savings Account (TFSA) or First Home Savings Account (FHSA).<\/p>\n 3. What are the family law<\/strong> implications?<\/strong> If the recipient is in a relationship that ends, gifts or property could be subject to division, depending on provincial family law. There may be ways to protect the intent in your support, such as through the use of formal ownership agreements or cohabitation agreements.*<\/p>\n 4. Are there tax implications? <\/strong>While Canada has no gift tax, some arrangements can trigger taxable events. For example, co-owning a property with the recipient may protect your share, but if it’s not your principal residence, you could face capital gains tax upon its sale or disposition. Large gifts from taxable investment accounts could also trigger capital gains or income tax.<\/p>\n 5. Will this affect my estate plan?<\/strong> If you have multiple children who are intended beneficiaries, a gift to one child can affect how you equalize your estate. A strategic approach might include integrating gifting into an estate equalization plan – through lifetime gifts or testamentary planning using trusts or insurance.<\/p>\n *Consult legal and tax professionals to understand the implications of any strategy<\/span><\/p>\n","protected":false},"excerpt":{"rendered":" Without a doubt, home ownership has become increasingly out of reach for younger generations (chart, bottom right). Canadian home prices have risen faster than in any other G7 country – nearly quadrupling over 40 years (graph, top). As such, many families are stepping in to help. Beyond easing financial stress, this support can have added […]<\/p>\n","protected":false},"author":189,"featured_media":7475,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_oasis_is_in_workflow":0,"_oasis_original":0,"_oasis_task_priority":"","footnotes":""},"categories":[36],"tags":[58,40],"class_list":["post-7312","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-wealth-planning","tag-real-estate","tag-wealth-planning"],"acf":[],"yoast_head":"\n![\"\"](\"https:\/\/advisor.wellington-altus.ca\/themahrtinvestmentgroup\/wp-content\/uploads\/sites\/161\/2025\/07\/Housing-Prices-G7-Countries.png\")
<\/p>\n![\"\"](\"https:\/\/advisor.wellington-altus.ca\/themahrtinvestmentgroup\/wp-content\/uploads\/sites\/161\/2025\/07\/Housing-Costs-Over-40-Years.png\")
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