Creating a will means making big decisions that will impact your family for years after you’ve gone. While divvying up assets, assigning care for dependants and tax planning will take up most of your will-creating conversation, you’ll also have to consider who should be the executor of your will (or the liquidator in Quebec).
When it comes to insurance, there are some types that we automatically take out. Car insurance, home insurance and life insurance are often considered non-negotiable essentials.
Canadians are pretty good at some aspects of estate planning. Almost half of Canadians have drawn up a will, and that number shoots up to 78% of Canadians aged 55-plus.
In the relentless pursuit of success, Canadian high-net-worth individuals, including CEOs, senior executives, entrepreneurs and managers face a business landscape defined by constant change.
You’ve worked hard all your life, raised your children well, and helped them go to university; and at the same time, saved up enough to retire comfortably and maybe even travel a little. Congratulations, reaching all of these goals is not easy for many Canadians and you should be proud of your financial responsibility.
With mortgage debt, car loans and credit card bills to pay off, are you really in any shape to start investing for your retirement? Many young adults and professionals feel that financial planning and retirement saving strategies are beyond their reach at this stage in their lives. If they can just pay off debt for a few more years, they’ll be ready to get started on a plan of their own. The reality is that the longer you wait, the harder it becomes.
Avec la fin de l’année à nos portes, les contribuables canadiens souhaiteront envisager toutes les occasions de planification fiscale qui leur sont offertes. Votre situation et vos objectifs particuliers dicteront quelles stratégies de planification de fin d’année vous conviennent. La liste de contrôle de planification fiscale de fin d’année d’IG Gestion de patrimoine peut vous aider à comprendre quelles occasions...
For several years now, I have struggled with the idea of critical illness (CI) insurance for our clients as it always seemed too expensive for me to recommend it even though I knew how important this type of protection can be. Recently, and after receiving some additional training and info on the subject, my views have entirely changed.
In regards to retirement planning, arguably the most important window is the 10 year mark from your retirement date. While many of us don’t know for sure exactly when we will retire, most have a good idea of when that date is “about” 10 years away. This article is focused specifically on the group that has 5-10 years left until they retire and what they should be doing now to prepare for this event.
Are you fearful of what your retirement will look like? If so, you’re not alone. While retirement should be a relaxing time where you can take advantage of all the hard work you put in over the years and where you can take part in the activities you enjoy most, for many it is not.
When we are young, life insurance is used to protect our family by providing money to replace our income. However, as we approach retirement our need for income replacement lessens and the focus switches to wealth protection. Wealth protection is a permanent concern, so it requires permanent solutions.
Are you, like many Canadians, planning to renovate your home or cottage? If so, you should keep your receipts in case you ever need to support the cost base of your property. Generally, Canadians have not been required to report the cost base of a principal residence that is sold on their tax return. But that changed a few years ago.