Imagine if an estate executor (or personal representative, liquidator or estate trustee, depending on the province) was about to administer an estate, only having the will. They would have a tough time searching for contact people, important documents and hidden information. That’s why it’s important to develop an estate directory including everything your executor needs.
A Registered Education Savings Plan (RESP) has three important phases where the asset allocation between equities, fixed income and cash equivalents is critically important.
Thinking of helping your child purchase a home? Imagine searching for your first home in today’s market. Real estate prices continue to soar. Mortgage regulations are stricter. The cost of living is only increasing. It’s a financial challenge. If you’re the parent of a want-to-be homeowner, you may wonder about helping out with the down
Filing taxes? Remember pandemic support payments are taxable income As you pull together all the usual slips and information to prepare for the tax filing season, don’t forget about the potential impact of the government’s pandemic support programs. The most important thing to know is that income from all Government of Canada’s pandemic support programs
Looking for more after-tax retirement income? Consider these strategies Once you’ve retired, your financial focus becomes making the most of your retirement savings – and that means paying as little tax as possible. Fortunately, there are things you can do to structure your income flow in a way that maximizes your after-tax income. Consider the
Think twice before naming a friend or family member as your executor Research has shown that most Canadians name a family member or friend in their will as executor of their estate. While this may seem like a natural choice, it may not always be the best one. Your executor is personally responsible for your
As the economy recovers, staying the course is more important than ever You have probably heard that when times are tough – like a recession or market correction – that’s it’s wise to “stay the course.” Ironically, with a recovering economy and robust investment markets, this advice bears repeating. Here’s why. Money to spend A
Headline versus core inflation: which really matters? There are two key measures of inflation: headline inflation and core inflation. This year, headline inflation has dominated the headlines, but which is the most important for investors? Headline inflation. Headline inflation is a kind of “raw” inflation figure reported through the Consumer Price Index (CPI) as measured
Is the inflation risk real? How will it affect investors? As the pandemic situation began to improve with the launch of vaccination programs in many major economies, market watchers and economists began to raise the spectre of inflation. A rapid economic recovery – fueled by unprecedented monetary and fiscal stimulus and economies reopening with consumers