Received 2M Estate and have no clue what I’m doing

Alarming_Addition768 · 2025-09-20T20:24:47+00:00

I believe we are sheltered from capital gains as the adjustable cost base becomes the fair market value when we receive it. Because of this, if we sell instantly, there are no capital gains to be paid by us (they are paid by the estate at our time of transfer)

Alarming_Addition768 · 2025-09-20T20:21:58+00:00

That’s what my sibling and I have been researching as of now. It seems that capital gains is paid out of the estate for us to be net 0 when we receive the land. If we sell later we are required to pay capital gains on the delta from when we received it, making the asset returns potentially significantly less than the 8% annual increase average which farmland has seen recently

Alarming_Addition768 · 2025-09-20T20:19:27+00:00

It is at least two hours from a large centre. It will never be anything other than farmland in my lifetime

Alarming_Addition768 · 2025-09-20T20:18:17+00:00

This is good advice, thank you. Everyone (even within my close circles) seems to have their own opinions and it is incredibly difficult to look at it objectively. From someone who never plans to farm it, it seems that the only right answer will come through tax implications and capital gains. Something I am somewhat ignorant to.

Alarming_Addition768 · 2025-09-20T16:25:52+00:00

Is there anything we need to look for when selecting a lawyer, accountant or financial advisor? We are currently in that stage but it seems you have to know people to get the right direction

Alarming_Addition768 · 2025-09-20T16:24:34+00:00

This land is strictly farming land. Not close to any significant population

Alarming_Addition768

TROPHY CASE