[parasubvert]

That's not entirely accurate: the CRA requires "deemed disposition" on all your assets at the time of death.

Basically your estate has to pay up all pending taxes / capital gains as if it sold all its property at the time of death.

[cmrdporcupine]

But held cash assets belonging to the estate and passed onto children/spouse are not taxed.

[hinkley]

You have a fundamental misunderstanding of the super rich if you think that hard currency represents any significant fraction of their assets, late in life.

It's only a concern for the middle class, and there are other rules that cover them.

[refurb]

Right, the estate just pays the taxes it would have paid if the person had been alive. That seems more fair.