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Cascading Insurance

Posted by Admin1034 in Blog, Uncategorized

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 is…

How to give money to grandchildren

Posted by Admin1034 in Blog, Uncategorized

It’s not unusual for grandparents to want to give money or gifts to grandchildren. And as the Canadian population ages, you may find more clients choosing to skip over their adult, and more financially secure, children in order to provide for the younger generation. Grandparents…

RETIRING ENTREPRENEURS AND BUSINESS SUCCESSION PLANS

Posted by Admin1034 in Blog, Uncategorized

As more and more baby boomers get ready to retire, so do the thousands of entrepreneurs within this generation – many of whom would benefit from a sound business succession plan. In a November 2015 report, the Canadian Federation of Independent Business (CFIB) described succession…

CLIENTS’ TOP TAX QUESTIONS ANSWERED

Posted by Admin1034 in Blog, Uncategorized

With the deadline to file 2015 personal income tax returns fast approaching, BMO Wealth Management asked Canadians what tax topics are on their minds most. Top five tax questions answered: 1. SHOULD I CONTRIBUTE TO MY RRSP OR TFSA? (Asked by 46% of those polled)…

5 STEPS TO ESTATE SUCCESS

Posted by Admin1034 in Blog, Uncategorized

More than half of Canadians don’t have up-to-date wills and almost two-thirds haven’t prepared powers of attorney, according to a LAWPRO survey. But most Canadians acknowledge they should have these important documents. A will is a key component of all estate plans. Dying “intestate” (without…

CANADIANS WORRY ABOUT FAMILY FINANCES AFTER DEATH

Posted by Admin1034 in Blog, Uncategorized

Half of Canadians are concerned that their deaths will put their family’s financial stability in jeopardy, finds a BMO survey. Of those surveyed, 26% feel very concerned. Fewer than half (43%) say they own or will purchase life insurance in the next 12 months. And,…

USING WEALTH WISELY

Posted by Admin1034 in Blog, Uncategorized

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…

WHAT IS CAPITAL SQUARED

Posted by Admin1034 in Blog, Uncategorized

Most people know what insurance is, but few people have ever been told what it can do. The combination of turbulent financial markets and record low interest rates have challenged investors for several years. Conventional guaranteed financial instruments like bonds and GICs, long considered safe…