Events in your life or changes involving the person you designated may call for a review of your executor—also known as a liquidator, estate trustee or personal representative, depending on the province. When the issue involves your executor If your executor has moved to a different province or a considerable distance away, you may wish […]
Estate planning is a critical part of securing your financial future, and while most people focus on their physical and financial assets, digital assets are often overlooked. In today’s connected world, our digital footprint is more significant than ever—ranging from online bank accounts and investments to social media profiles and digital subscriptions. So, how can […]
When it comes to estate planning, the goal is simple: to make sure your hard-earned wealth benefits your loved ones in the way you intend. However, the process can seem a bit overwhelming, especially with taxes, legal fees, and family dynamics coming into play. Let’s break it down and look at some straightforward strategies to […]
https://youtu.be/J0FUFOvEzDs If you haven’t accounted for your digital assets in your will or another document, you’re not alone. This is often overlooked when planning an estate. Digital property can be broadly categorized as either personal or financial. Personal assets can include social media accounts, photo and video collections, blogs and personal websites. Digital financial property […]
https://youtu.be/zjVBqQAdaU4 Giving a financial gift to a grandchild can be tremendously satisfying, knowing you’re helping to make a difference in a loved one’s life. The first step is choosing when to make a gift. You can make financial gifts to grandchildren while you’re living or upon your passing. If you give now, you’re able to […]
https://www.youtube.com/watch?v=pGFFfaI4SdM Unless you prepare properly, your executor could end up feeling more like a detective. Where are receipts for the final tax return? Where’s the life insurance policy? What, there’s an old bank account from 20 years ago? The job of the executor is involved enough without having to search for information and documents that […]
Buying a house is a significant investment, especially for unmarried couples with blended families. Lucas and Elsa are in this situation, with six children and an agreement in place regarding what happens to their home if their relationship doesn’t work out. However, they have overlooked an important aspect of their estate planning. What happens if […]
https://www.youtube.com/watch?v=Mcjv4vLYBk4&t=10s Say that the holder of a Registered Retirement Savings Plan (RRSP) names their spouse as the beneficiary. Later, the couple divorces. The RRSP holder removes their ex-spouse from their will. However, with all the activity surrounding the divorce, they neglect to change the RRSP beneficiary designation from their ex-spouse to their child. If the […]
https://www.youtube.com/watch?v=mSqKKg7zWTQ When you leave an inheritance to your loved ones, you intend to give each person some welcome help in meeting their financial and life goals. No one wants an inheritance to cause discord among the beneficiaries. Unfortunately, that can happen in certain situations if plans aren’t shared with beneficiaries in advance. By communicating your […]
Most parents who think about helping a child buy a home have something in common. When they bought their first home, it was significantly easier to make the down payment than it is now. Today, real estate prices have escalated, mortgage regulations are stricter and the cost of living is higher. So a parent might […]
