Understanding Trusts

When developing an estate plan, the inclusion of a trust, or multiple trusts, may help you to achieve your personal objectives and enhance benefits to be received by future generations. What is a Trust? A trust is a relationship where a person (the

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Taking Action Today - The Benefits of Gifting In Your Lifetime

For many, the idea of estate planning means preparing for what happens after death. But executing your estate plan may be possible well before death. Outside of the satisfaction of seeing your beneficiaries enjoy the gifts during your lifetime, distr

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Is Critical Insurance for me?

We are living longer — in fact, on average 10 years longer than just 50 years ago according to United Nations estimates. Our average life expectancy is now about 82 years and many of us have adjusted our retirement planning and expectations to reflec

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Do You Have a Trust? Don't Forget About the 21 - Year Rule!

Trusts can be a great tool for tax, estate and succession planning. If you already have set up a trust, don’t forget about the “21-year rule”, which may sometimes be overlooked during the life of the trust. In general, under the Income Tax Act, eve

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Simple Ways to Save Tax

Now is the perfect time to be proactive and consider some simple tips to reduce your future tax bill. • Maximize RRSP contributions — Repeated all too often perhaps, but this is still one of the best tax shelters for most Canadians. Get an immediate

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Minimizing Taxes on Your Estate

As the old adage goes, “nothing is certain but death and taxes”. So it is surprising that many of us are reluctant to address the issues that surround death, especially as they relate to taxes. There are a number of strategies that may minimize the a

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Gifting Assets to Children

Most readers are aware that certain taxes will come into play upon their death and wonder if giving their money to their kids while alive is a better option. Canada has no estate or gift taxes, per se, unlike the United States. South of the border, e

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RRIF Holders with a Lower Marginal Tax Rate - Consider Using Your TFSA

Taxes are, indeed, one of life’s few certainties. Not many people would want to give extra money to the government in the form of taxes! As such, tax minimization opportunities should always be a consideration for investors. Minimizing taxes should n

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RESPs - Saving for Education

With the return of autumn, many families may be turning their attention to thoughts of school and the cost of education. For some, children are off to pursue post-secondary education programs. For others, slower economic activity and higher unemploym

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Consider Reviewing Your Life Insurance Today Before Changes Take Place

As we are well into the second half of 2016, now may be a great time to consider reviewing your life insurance requirements before changes take place starting at the beginning of next year. Life insurance not only provides protection, but certain p

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