Ralph had always worked hard for what he owned. But after watching friends and acquaintances struggle with messy estates, he realized that without a proper plan, everything he’d built could
Scott Havens* is the kind of guy everyone wishes they had in their life. At 35, he’s the go-to mechanic in Vancouver who never hesitates to lend a hand—whether it’s
If you’re between 35 and 65, chances are you know someone who has been diagnosed with a terminal illness. It’s a tough reality, but if there’s still time, helping them
Let’s face it—your death will create challenges for your loved ones. These challenges will fall into three main categories: emotional, legal, and financial. The good news? You have the power
Recently, a client wanted to leave all of their money to two charities through their Will. They wanted to leave a legacy to a few charities, and they didn’t have
Ralph and Mary have accumulated a nice estate, a good portion of it in cash. They want to leave it all to their children when they die, but they also
Many clients in their 50’s and 60’s are increasingly worried about the finances of their aging parents. This is especially true when it is difficult to predict interest income on
It is seldom planned or wished for, but it is a reality and something that requires discussion – the illness and/or death of a spouse or partner. As the so-called
Clarke owned a small business that employed three other people besides him. He had sole signing authority on his business bank account, and personally had a joint mortgage on his
Here are some common TIPS Canadians should consider when assisting family members with handling their financial affairs while alive. And some common TRAPS that may occur once an Executor is
When it comes to your estate, it is important to consider giving some thought to how you want to distribute your assets, household goods and other gifts to your heirs
As people age, maintaining financial independence can become increasingly challenging. However, there are steps that senior can take to help ensure that they can continue to live independently and enjoy
The Baby Boomers have become known as the sandwich generation as they are wedged between the dependency needs of aging parents and the needs of their children. Those hit the
After spending a lifetime managing your money to ensure that you actually have something to leave to your heirs, there are some questions that might naturally spring to mind. How
Most wives outlive their husbands. Women live longer than men the same age and tend to marry men who are older than they are. So, if you’re a wife, it
Almost 750,000 Canadians are living with some form of dementia1. The personal and financial challenges can be devastating for elderly individuals as well as for the adult children who care
By 2026, an estimated $1 trillion in personal wealth will be transferred from one generation to the next in Canada1, the largest transfer of wealth in our country’s history. This
Julia wants to make sure that her estate passes to her heirs with as little hassle and cost as possible when she dies. She knows she needs a will and
When Dora died on August 1, 2018, most of her assets passed by Will to her adult children and were therefore subject to probate. $250,000 was in GICs and a
It’s that time of year when wish lists for gifts are circulating. Before purchasing that iPad, game system, e-bike or leather jacket, consider a gift that will keep giving well
When Simon’s father passed away two years ago, he didn’t think much about how his estate would be handled. His mother had died five years before, and his dad’s will
It seemed there was nothing her father couldn’t do when Margaret was growing up. He was the most capable person she knew. Widowed by the time he was 55, he
When Margaret and James married in 2005, it was a second marriage for both of them. They had no children, so when they did their financial planning, their wills were
Today, 28% of Canadians provide some form of unpaid caregiving to relatives or family friends. Seniors make up the largest group of those requiring this type of care. The evolving
Your estate is everything you own today – your home, savings, investments, life insurance and personal possessions. So, no matter where you may be on your financial journey, you have
With the average price of a home in Canada 1 costing roughly $530,000 in 2020 , it’s getting harder for first-time buyers to enter the market. This is likely why
Recently retired Ross and Penny have an estate planning challenge. They’ve accumulated a comfortable net worth, with a good portion of it in liquid investments. They plan to leave everything
Ottawa dropped Estate Taxes over forty years ago. All the provinces did away with Succession Duties by 1985. We thought that was the end of taxes arising at death. We
The Baby Boomers are making history as the largest retirement migration ever seen. However, it’s their parents who hold the most massive accumulation of wealth which is now being transfered
Wealth transfer can be a complex process for most families but especially wealthy ones. The range of issues involved can include family values, objectives and relationships; business continuity; investment strategy
