Family

Estate Planning for Blended Families

May 5, 2021Blog, Estate Planning, Family

Blended families – where two people get married but have children from previous relationships – are becoming more common. On top of the day-to-day challenges of blending a family, new spouses also have to figure out how to plan their estates, so everyone is properly taken care of.

We cover all of the following a blended family must consider while estate planning:
• Sharing the Family Home
• Make the Most of a Registered Retirement Savings Plan
• How to Share Non-Registered Investments and Other Assets
• Why It’s Important to Select a Good Trustee
• The Advantages of Life Insurance for Blended Family Planning

Federal Budget 2021 Highlights

April 22, 20212021, Blog, Coronavirus, Coronavirus - Associates, Coronavirus - Practice Owners, Coronavirus - Students, corporate, Debt, Family, financial advice, Financial Planning, incorporated professionals, individuals, personal finances, Professional Corporations, tax

On April 19, 2021, the Federal Government released their 2021 budget. Our article contains highlights of the various financial measures in this budget, divided into three different sections:

• Business Highlights, including an extension to COVID-19 Emergency Business Supports, new programs to support job creation, and a change in interest deductibility limits.

• Individual Highlights, including details on the tax treatment and repayment of personal COVID-19 benefits (such as CERB), eligibility changes to the Disability Tax Credit, an increase in OAS for those 75 and up, and support for job skills retraining.

• Additional Highlights, including a proposed federal minimum wage of $15, changes to the GST New Housing Rebate conditions, and new or increased taxes in areas such as luxury goods, tobacco, and Canadian housing owned by non-resident foreign owners.

Personal Tax Planning Tips – End of 2020 Tax Year

December 2, 20202020 Only, Blog, Charitable Gifting, Coronavirus, Coronavirus - Associates, Coronavirus - Practice Owners, Coronavirus - Retired, Coronavirus - Retiring, Coronavirus - Students, disability, Disability Insurance, Family, financial advice, Financial Planning, health benefits, pension plan, RDSP, Registered Education Savings Plan, RRSP, tax, Tax Free Savings Account

To help our clients, we’ve put together a comprehensive article filled with great tips on how to get ready for 2020 tax season. Here’s a summary of our personal tax tips article:

• Details about the different COVID-19 benefits programs and the tax ramifications of them

• Information about family tax issues including the Canada Child Benefits and tips on how to split income.

• Managing investments. Details about contributing to various savings plans such as a TFSA, RESP, or RDSP. Also tips on how and when to donate to charity and how to time the purchase or sale of investments.

• Retirement planning. How to make the most of your RRSP, things to know if you’ve turned 71, and tips on RRIF conversion.

6 Steps to Retirement Success

August 5, 2020Blog, Business Owners, Family, Investment, Retirees, RRSP, Tax Free Savings Account

Retirement planning can be challenging, we’ve outlined what we feel are 6 steps to retirement success. Talk to us about a complimentary comprehensive review of your retirement plan.

Insurance Planning for Young Families

June 2, 2020Blog, Disability Insurance, Family, health benefits, Insurance, Life Insurance, Travel Insurance

For young families, making sure your family is financially protected can be overwhelming, especially since there’s so much information floating online. This infographic addresses the importance of insurance- personal insurance.

Guide to Covid-19: Government Relief Programs in Canada

May 4, 20202020, Blog, Coronavirus, Coronavirus - Associates, Coronavirus - Practice Owners, Coronavirus - Retired, Coronavirus - Retiring, Coronavirus - Students, Family, individuals, Life Insurance

The intention for our “Guide to Covid-19: Government Relief Programs in Canada” is to help businesses and individuals to cut through the noise and make sure they’re getting all the help they can receive from the federal and provincial programs.

Comparing TFSAs and RRSPs – 2020

January 30, 20202020 Only, Blog, Family, individuals, Investment, Retirees, RRSP, tax, Tax Free Savings Account

We examine the difference between RRSP and TFSA in the deposit and withdrawal stage.

2019 Tax Tips for Employees

November 22, 20192019 Only, Blog, Estate Planning, Family, individuals, Investment, Retirees, RRSP, tax, Tax Free Savings Account

Now that we are nearing year end, it’s a good time to review your finances. With the federal election over and no major tax personal tax changes for this year, 2019 is a good year to make sure you are effectively tax planning.

When and Why You Should Conduct an Insurance Audit

October 31, 2019Blog, Business Owners, Family, individuals, Life Insurancebeneficiary, business owners, children, families, individuals, life insurance, marital status, smoking

As our lives grow and change with variable circumstances, new additions, and job transitions, our needs for insurance will also evolve. Additionally, economic fluctuations and external circumstances that influence your insurance policy will need frequent re-evaluation to ensure that you are making the most appropriate and financially favorable decisions. Talk to us we can help.

Self Owned vs. Bank Owned Mortgage Insurance

August 30, 2019Blog, Family, individuals, Life InsuranceInsurance, Mortgage

Before buying insurance from your bank to cover your mortgage, please consider your options. What does the insurance cover?

Category: Family

Estate Planning for Blended Families

Federal Budget 2021 Highlights

Personal Tax Planning Tips – End of 2020 Tax Year

6 Steps to Retirement Success

Insurance Planning for Young Families

Guide to Covid-19: Government Relief Programs in Canada

Comparing TFSAs and RRSPs – 2020

2019 Tax Tips for Employees

When and Why You Should Conduct an Insurance Audit

Self Owned vs. Bank Owned Mortgage Insurance

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