If you haven’t experienced it already, you may one day. A friend or relative is in dire straits and asks you for a loan. In some cases your instincts might tell you right away how you feel about the request. If the person is a loved one with a genuine need you may be only too glad to help out. But if this person spends recklessly and always looks for hand-outs, you may be dead against supporting their undisciplined lifestyle.
The more difficult situations are those in the grey area when you’re not quite sure what to do. It’s a very personal decision, but some issues and guidelines may help you figure out your approach.
When deciding on an executor, or liquidator in Quebec, it’s quite common to name an adult child to administer the estate. But if you have more than one child, it’s a decision to make with caution. Here’s a look at the pros and cons of going this route when siblings are involved.
“And to my beloved daughter, I give the leather-bound album of cherished family photographs.”
Sure, that sounds right for the old days. Today the pics might be on your laptop. We’ve got all sorts of valuable items stored electronically, and it’s time we started treating them accordingly.
The 2017 Royal LePage Canadian Recreational Housing Report showed healthy year-over-year price increases in many vacation property markets across Canada. The highest average price was $816,700 in Alberta, but even the national average was more than $400,000.
Over time, the price increases can be staggering. Waterfront cottages on the Bruce Peninsula in Ontario that sold for an average of $250,000 in 2005 cost almost $465,000 in 2017.1
All of the speculation and discussion has turned into reality — the federal government is beginning to clamp down on tax-reduction opportunities for small businesses. With the new restrictions, it becomes even more important to take advantage of the tax breaks that remain. Here are three strategies to consider.