Do you need life insurance on your children? Or is this coverage you should skip? Let’s evaluate the why’s and why nots of life insurance on children. When you don’t need life insurance on your children Placing life insurance on parents or wage earners is…
The Rules The cascading insurance strategy takes advantage of subsection 148(8) of Canadian tax law, which will allow you to transfer ownership of a life insurance policy to any of your children, free of tax, where a child of yours is the life that…
You can legally write a will if you’re 19-years-old in Canada. That may seem entirely too young to even think about it, but it’s really not. Your age should be the last thing you consider when thinking about writing a will. As an insurance and…
While the economy and the mood of Canadians continue to improve after the recession, life for the new Tax Free Savings Account (TFSA) doesn’t seem to be getting a whole lot better. They’ve been called one of the best financial savings instruments to come along…
You’ve worked hard and you want to enjoy a comfortable retirement. But outside of an RRSP AND TFSA what investment plans allow you to grow your wealth without it being eroded by taxation? And when you eventually start to draw an income in retirement……more taxes!…
You can legally write a will if you’re 19-years-old in Canada. That may seem entirely too young to even think about it, but it’s really not. Your age should be the last thing you consider when thinking about writing a will. As an insurance and…
There are a number of reasons to hold a life insurance policy in a corporation rather than personally — one being the tax treatment The proposed changes to the exempt test for life insurance policies announced in the 2012 federal budget will likely create a…
Life insurance isn’t an easy thing to talk about. There are probably innumerable things that people would rather do than discuss insurance, such as laundry or dental work. Even those with life insurance told a TD Insurance survey that they think it’s too complicated or…
When you make your Will, you decide what happens to your estate when you die – and nobody else. It becomes the only legally recognized document that ensures that your wishes about who gets what are carried out the way you planned. In a very…
Being a millionaire ain’t what it used to be. A new report by Cap Gemini and the Royal Bank of Canada says the number of people in North Americawith $1 million in investable assets climbed 11.5 per cent to 3.73 million last year. But a…