Browsing Tag

‘income tax’

Segregated Investment Funds

Segregated Investment Funds

[:en]An Alternative Investment for Capital Preservation & Estate Planning Segregated Investment Funds are often misunderstood and underutilized by Financial Advisors and other Estate Planning professionals. The investment funds offered through insurance carriers provide unique benefits guarantees. Segregated funds offer both death benefit and capital guarantees in various forms. Some plans offer 100% death benefit guarantees from day 1 as well…

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Sharing Your Wealth with the Next Generation

Sharing Your Wealth with the Next Generation

[:en]Read Article Here – Updated October 25, 2018 Planning for the transition of wealth to your children and grandchildren doesn’t have to be a daunting task. It’s important to start discussing this now so you can understand the impact of tax on your estate assets and what steps you can take to plan for the future. Let’s consider some of…

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How the 2019 Passive Investment Income Changes Affect Your Small Business

How the 2019 Passive Investment Income Changes Affect Your Small Business

How the 2019 Passive Investment Income Changes Affect Your Small Business. After a lot of public debate in the tax and small business community around the way in which passive investment income is taxed in Canadian controlled private corporations, the changes that were announced in the 2018 Federal Budget are now law. These changes will limit the amount of the…

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Donating to Charity Using Life Insurance

Donating to Charity Using Life Insurance

[:en]If you are interested in creating a legacy at your death by making a charitable donation, you may wish to investigate using life insurance for that purpose. There are different ways you can structure life insurance for use in philanthropy. The most common are: Getting an Existing Life Insurance Policy If you currently own a life insurance policy, you can…

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Critical Illness – Are You Protected?

Critical Illness – Are You Protected?

[:en]Why a Doctor Invented Critical Illness Insurance Critical Illness insurance was invented by Dr. Marius Barnard.   Marius assisted his brother Dr. Christiaan Barnard in performing the first successful heart transplant in 1967 in South Africa. Through his years of dealing with cardiac patients, Marius observed that those patients that were better able to deal with the financial stress of their…

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Canada Pension Plan – Should You Take it Early?

Canada Pension Plan – Should You Take it Early?

[:en]The new rules governing CPP were introduced in 2012 and they take full effect in 2016. The earliest you can take your CPP Pension is age 60, the latest is 70. The standard question regarding CPP remains the same – should I take it early or wait? While you can elect to start receiving CPP at age 60, the discount…

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Boomer + Sandwich Generation + Club Sandwich + Boomerang = Financial Instability

Boomer + Sandwich Generation + Club Sandwich + Boomerang = Financial Instability

[:en]The Sandwich Generation was a term coined by Dorothy Miller in 1981 to describe adult children who were “sandwiched” between their aging parents and their own maturing children. There is even a term for those of us who are in our 50’s or 60’s with elderly parents, adult children and grandchildren – the Club Sandwich.  More recently, the Boomerang Generation…

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What is Key Person Insurance?

What is Key Person Insurance?

Most business owners understand that assets vital to the success of the enterprise should be insured. Premises are routinely covered for fire and/or theft; vehicles used to make deliveries, insured; machinery needed for manufacturing, also insured. Given that these tangible assets are instrumental in the success of the business, it makes good business sense that the business is protected in…

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Changes to the Taxation of Estates

Changes to the Taxation of Estates

[:en]Estate, trust and tax planners have long favoured testamentary trusts as vehicles to pass along assets to beneficiaries or heirs.   A testamentary trust is generally a trust or estate that is created the day a person dies. Commonly, these trusts are established in a testator’s will. A significant benefit to testamentary trusts had been that income earned and retained in…

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Don’t Wait Too Long To Convert Your Term Insurance

Don’t Wait Too Long To Convert Your Term Insurance

[:en] If you require permanent life insurance coverage for family, estate planning, business, or tax planning purposes or you just wish to accumulate money in your life insurance program it may be time to look at a permanent, level cost solution. Many of us purchase large amounts of low cost term insurance to cover our needs while we are raising…

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