Andrew Tricomi Financial Planner

Home
Canada
Ottawa, ON
Andrew Tricomi Financial Planner

Contact information, map and directions, contact form, opening hours, services, ratings, photos, videos and announcements from Andrew Tricomi Financial Planner, Financial planner, Ottawa, ON.

Independent Financial Planner & Investment Rep | Ex VP @ Stittsville Business Association | Member of Ottawa Estate Planning Council & Financial Planning Association of Canada | I enjoy planning an impactful financial future for families & entrepreneurs.

06/01/2026

Your first job holds promise and peril. Here’s how to protect your future self.

05/31/2026

The best rate isn’t necessarily the lowest borrowing cost, and the lowest number on a screen isn't always the lowest figure a lender will quote.

05/29/2026

Map out your summer spending before it sneaks up on you. Summer spending isn’t usually one big expense; it’s a series of smaller “yes” decisions that add up.

05/27/2026

A sudden surge in share prices makes us all think we know what’s coming next.

05/25/2026

In a spring economic update that was expected to focus on big-picture plans to strengthen investment and economic growth, Ottawa also included several measures that will give a little boost to Canadians’ pocketbooks.

05/24/2026

Stop "finding" yourself and start creating your future self. Use these 5 pillars to align your purpose and pivot with confidence.

05/22/2026

We're on our phones all the time and send trillions of text messages every year. Why did we stop calling each other to just check in?

05/20/2026

Your avoidance, overspending, and money anxiety aren't personality flaws. They are nervous system responses and understanding them is the first step to changing them.

05/19/2026

The family cottage is one of the most emotionally loaded assets in estate planning.

It’s where three generations learned to canoe. Where the kids caught their first fish. Where summer memories were made.

It’s also where a lot of families lose hundreds of thousands of dollars to taxes they didn’t plan for.

Here’s what happens: when the cottage owner dies, the CRA treats it as if the property was sold at fair market value. A cottage purchased for $80,000 in the 1980s might now be worth $800,000 or more. That $720,000 capital gain can trigger a tax bill exceeding $200,000 on the final return.

If the estate doesn’t have the liquidity to pay it, the cottage often has to be sold. I’ve seen it happen to families who assumed their kids would just “inherit the cottage.” Technically they did. But then it had to be liquidated to cover the tax.

The good news: there are strategies to reduce, defer, or plan for that tax bill.
Principal residence exemption. Yes, a cottage can qualify. But only one property per family can be designated each year, so the allocation matters.

Transferring now vs. later. Each has trade-offs. Transferring during your lifetime triggers an immediate deemed disposition. Waiting means the tax bill falls to your estate.

Family trusts. They offer control and flexibility, but come with the 21-year rule: a deemed disposition every 21 years whether you sell or not.
Joint ownership. Simpler on paper, but it exposes the cottage to your children’s creditors and can complicate things quickly.

Life insurance. Often the cleanest solution. A tax-free death benefit arrives exactly when the estate needs liquidity.

The families who keep the cottage in the family are the ones who plan for it years in advance. The ones who lose it are usually the ones who assumed everything would “work itself out.” If you have a cottage and haven’t had this conversation with your family yet, it’s worth starting now. Check out the blog post on my website - If you are thinking about how to keep your cottage in the family, please reach out- i’d be happy to have that conversation.

05/18/2026

Research shows that vitality is improved by challenging avoidance, stasis and soothing habits—and instead leaning into uncertainty and discomfort.

Address

Ottawa, ON

Telephone

+16138820350

Website

https://andrewtricomi.com/, https://outlook.office.com/bookwithme/user/abe61c77b35d41879ee2e039408edb45%40tricomifinanci

Alerts

Be the first to know and let us send you an email when Andrew Tricomi Financial Planner posts news and promotions. Your email address will not be used for any other purpose, and you can unsubscribe at any time.