This strategy could be useful in reducing your family’s overall tax burden by effectively transferring investment income from the higher income spouse to the lower income spouse.
Speak with a qualified tax advisor to assess if this strategy is right for your family and to make sure that the proper steps are taken in implementing this strategy.
Mark Ryan is an investment advisor with RBC Dominion Securities Inc. (member – CIPF), and these are Ryan’s views, and not those of RBC Dominion Securities. This article is for information purposes only. Please consult with a professional advisor before taking any action based on information in this article. Ryan can be reached at firstname.lastname@example.org.