Estate Planning

Have you named a trusted contact person?

The Canadian Securities Administrators, an umbrella organization of provincial and territorial securities regulators, introduced a measure two years ago to help protect investors’ financial interests. Investors could give their advisor the name of a “trusted contact person.” Meeting a need An advisor can contact this individual if the advisor believes the investor may be losing their […]

Transferring the family vacation property: now or later?

Across the country, a vacation property may be known as a cottage, cabin, chalet or camp. One thing they all share is a looming tax liability. When a vacation property is sold or transferred, the owner must pay tax on the capital gain. If an individual purchased a vacation property for $300,000 and sold it […]

Help your child purchase a home with an FHSA

Today’s housing market remains challenging, leaving many first-time home buyers hard-pressed to come up with a down payment. So, quite often, parents or grandparents want to help out. As of April 1, 2023, a new avenue has opened to help fund a down payment: the First-Home Savings Account (FHSA). Although you can’t contribute directly to […]

Ensure family harmony when planning your estate

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 plans, […]

Time for a vacation property chat?

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 […]

Single? Estate planning is still important

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 […]

Control the inheritance you leave to your heirs

If you were to imagine someone establishing a trust, you may picture an individual leaving their hilltop mansion and being driven by their chauffeur to stately law offices visited only by the rich and famous. In reality, a trust can be used by just about anyone to meet a variety of estate planning needs. One […]