[Verse 1] When Harold retires with pension checks flowing He splits them with Martha, tax burden slowing Section sixty oh three makes the magic real Lower brackets for both, that's the pension deal But watch when your income climbs over the line OAS clawback steals fifteen cents every dime [Chorus] Plan your golden years, split and save Pension income sharing paves the wave Seventy five thousand triggers the claw Graduated rates and rollover law Death brings deemed disposition's call Unless your spouse can catch it all [Verse 2] Death arrives like an unwelcome auditor's knock Section seventy subsection five unlocks the shock Everything sold at fair market that day Capital gains taxes coming your way But spouses get automatic rollover rights Deferring the tax bill to future nights [Chorus] Plan your golden years, split and save Pension income sharing paves the wave Seventy five thousand triggers the claw Graduated rates and rollover law Death brings deemed disposition's call Unless your spouse can catch it all [Bridge] Graduated Rate Estates get thirty six months to breathe Testamentary trusts for what they bequeath Charitable donations at death multiply by five Keep more wealth in family hands alive Succession planning for the corner store Family business needs so much more [Verse 3] Transfer shares while values stay low Freeze estates and watch children grow Into ownership roles they're meant to hold While keeping the business away from the cold Touch of taxes that could force a sale Smart planning writes a different tale [Outro] From pension splits to business succession Every move needs tax law discretion Retirement dreams and estate preservation Built on solid planning foundation
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