https://www.youtube.com/watch?v=Mcjv4vLYBk4&t=10s Say that the holder of a Registered Retirement Savings Plan (RRSP) names their spouse as the beneficiary. Later, the couple divorces. The RRSP holder removes their ex-spouse from their will. However, with all the activity surrounding the divorce, they neglect to change the RRSP beneficiary designation from their ex-spouse to their child. If the […]
https://www.youtube.com/watch?v=mSqKKg7zWTQ When you leave an inheritance to your loved ones, you intend to give each person some welcome help in meeting their financial and life goals. No one wants an inheritance to cause discord among the beneficiaries. Unfortunately, that can happen in certain situations if plans aren’t shared with beneficiaries in advance. By communicating your […]
Most parents who think about helping a child buy a home have something in common. When they bought their first home, it was significantly easier to make the down payment than it is now. Today, real estate prices have escalated, mortgage regulations are stricter and the cost of living is higher. So a parent might […]
It’s natural to think that estate planning for a single person would be less involved than for someone who’s married with children. But that’s not necessarily the case. Many estate planning measures that are made automatically by a married individual, such as leaving estate assets to their spouse, require more time and thought for a […]
If you plan on passing down your cottage, cabin or chalet to your children, make sure they actually want to own the property. Finding out where everyone stands will prevent family conflicts down the road and help you with tax and estate planning. Gauge your children’s interest When you ask your child or children about […]
If you’ve been asked to be the executor of an estate, or have been thinking about creating and/or updating your will, you may be wondering what an Executor is, and what they are responsible for. What is an Executor? An executor of an estate is an individual that has been selected to administer the last […]
In case you missed our webinar on November 18, 2021, we hosted a one-hour financial education session. Highlights and where to find various topics are included below: Overview of financial accounts – 04:50 Refresher on RESP Accounts- 09:50 RRSPs vs TFSA- 19:34 Retirement Income-33:35 Insurance & Estate Planning- 42:50
By not having a Will or having an outdated one, your final intentions could go unactioned, leaving loved ones without the inheritance you had planned for them. Wills are not just for older generations. Anyone with assets or dependents can benefit from creating a Will and ensuring it is kept up to date. In this […]
Did you know that 51% of Canadians don’t have a Will, and only 35% say they have one that is up to date.[1] By not having a Will or having an outdated one, your final intentions could go unactioned, leaving loved ones without the inheritance you had planned for them. Wills are not just for […]
The current COVID-19 pandemic has resulted in many pausing to reflect on their estate and incapacity planning. The barrage of news headlines about the health crisis and forced time at home have understandably led individuals to more thoughtfully consider the plans they have in place or plans they would like to implement. Legal professionals throughout […]
