Introduction In this Tax Topic, we look at the basic rules relating to charitable giving through life insurance and in particular, the methods of gifting life insurance. There are three main methods by which a donor can gift life insurance to a charity. First, the…
In theory, this should be an ongoing process and the last 5 years before ‘pulling the pin’ should merely be refining your existing plan rather than starting from scratch. Of course, life doesn’t always work that way and the adage “better late than never” is quite…
Many entrepreneurs don’t want to retire. “They love what they do. It’s their passion,” said Jason Safar, PricewaterhouseCoopers Canada’s Oakville, Ont.-based national private company services tax leader. But financial advisors should urge their small-and-medium-size business clients to address the subject of their retirement. “They need…
As Canadians live longer, they will need to be savvy about their finances to enjoy security in their golden years, a recent Fidelity Investments retirement survey suggests. Noting that at the start of 2015 we are now half-way to the start of a new decade,…
No two family scenarios are the same, and this is especially true when it comes to clients with significant sources of wealth. Their wealth may come from operating or selling a successful business, an inheritance, a wise investment or other sources. They may have children…
Humans have the most complex and sophisticated minds in the animal kingdom, but when it comes to money our lizard brains take over. What’s the biggest threat to your portfolio? Most people would say low interest rates, high investment fees, looming inflation or the…
Why do wealthy individuals, those who have no need for more insurance, sign up for the largest whole life policies issued in Canada? Did they meet a high pressure insurance salesperson who convinced them to buy something they don’t need? Are they unsophisticated investors who…
For most new or expecting parents, there are a host of new financial planning implications and less time than ever before to deal with them. Although I can’t give you advice on sleep schedules or childhood allergies, I do suggest that you make the time…
In theory, this should be an ongoing process and the last 5 years before ‘pulling the pin’ should merely be refining your existing plan rather than starting from scratch. Of course, life doesn’t always work that way and the adage “better late than never” is quite…
So many meetings, so many difficult decisions, and so many times our clients failed to take advantage of insurance. Time after time we would hear, “I could do much better on my own without the insurance”. We are confident that permanent life insurance contracts…