estate planning

No matter how much we desire to protect the people most precious to us, the death of a family member is almost always met with some level of disbelief. In addition to the grief and mourning that follows the passing of a loved one, survivors are also left with the task of handling a variety of different matters at a time when they are probably least emotionally prepared to do so.

The new October 2016 Federal Government Principal Residence Exemption (PRE) rules are causing many Canadians to review and revise existing Wills and Estate Planning strategies according to STEP (The Society of Trust and Estate Planners).

No one likes to think about their own mortality, but making a proper estate plan can help to lessen the grief of loved ones left behind. Alternately, without a written estate plan, surviving family members are often saddled with the responsibility of making estate decisions without a clear understanding of the deceased’s wishes.

With many Baby Boomers now moving into their sunset years, the growing concern is how they will efficiently and effectively plan for the transfer of their wealth to the next generation?

The unfortunate truth about aging is that the human brain deteriorates as we age. While the process is vastly different depending on the individual and their health and circumstances, the rate of deterioration cannot be predicted with any level of certainty. It doesn’t cater to genetics, family history, or life habits.

In December 2015, an Alberta court decision raised the need for Advisors and their clients to review their existing Beneficiary designation of RRIF accounts as well as RRSPs and life insurance in order to ensure that the Designations on file properly reflected the wishes of the current account holder.

Do you have a separate recreational property or a rental property? If so this may apply to you:

Estate planning can be an overwhelming process. Whether it is your own estate or you are the executor for someone else, the checklist can seem never-ending. A financial advisor can help make sure your checklist is complete before you start checking the boxes.

Statistics Canada reported in 2007 that most eldercare (75%) was provided by those between 45 and 64 years of age. These Canadians, often called the sandwich generation, are increasingly finding themselves spending their own savings to care for their elderly parents, while giving money to their kids for university and trying to save for themselves.