Estate Planning
Is your financial plan fully protected?Planning for the future involves more than investing. Even the largest portfolio can be eroded by unforeseen expenses and tax consequences following an untimely death. The best way to save your family from unnecessary difficulty is to incorporate insurance into your financial plan. Learn more.
Joint Accounts: What you need to knowEstablishing a joint account may seem like a great strategy at first glance. However, there are many factors that must be considered before taking this action. This article will explore the use of joint accounts and the related estate planning, control and tax issues and consequences related to these types of accounts. Learn more.
Take control of your estateFor some, estate planning is difficult to think about, let alone engage in. While we understand the vital importance of getting our finances and legal affairs in order for our heirs, few of us make the time. It’s easy to put off — and besides, the term “estate planning” can conjure up notions of greater wealth than we feel we possess. Learn more.
Optimizing risk and reward for business ownersBusiness owners have a significant opportunity to build financial security for themselves and their families. The trick is to maximize this opportunity while also minimizing risk. Learn more.
Why is estate planning important?Estate planning is about life – in the present and in the future. Most importantly, estate planning is about the life of your family, your loved ones and the peace of mind you get from helping to provide for their financial security. A well-prepared estate plan will also help uncover alternative solutions you hadn’t considered or didn’t know were available. Learn more.
The benefits of testamentary trustsTestamentary trusts can provide both significant tax and non-tax estate planning benefits, but are often overlooked in estate planning. Learn more.
Spousal trusts in wills
Utilizing spousal trusts in Wills is perhaps the simplest way of obtaining significant income tax benefits long after the death of a spouse. The estate and the surviving spouse can effectively income split on a yearly basis without any regard for the income attribution rules under the Income Tax Act. Learn more.
Testamentary trusts for adult childrenSome children may be put off by the prospect of receiving their inheritance in the form of a trust for life rather than a direct distribution, especially if such children are older, well-established individuals. But like many issues in life, things aren’t always what they seem. Learn more.
Alter ego trustsMost tax advisers have found that many people who come to them with regard to estate planning have major concerns about probate fees. Learn more.
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