Estate Planning

Decorative pattern

Estate Planning

Income splitting in the TFSA era

This Advisor.ca Special Report is sponsored by: The practice of income splitting has been around for decades. Simply put, it’s the process of shifting income recognition from someone in a high tax bracket to someone in a low bracket. And, most often it’s carried out between spouses. With the implementation of the tax-free savings account […]

April 6, 2010

4 min read

Decorative pattern

Estate Planning

Provinces crack down on aggressive tax planning

This Advisor.ca Special Report is sponsored by: On the surface, inter-provincial tax planning appears pretty simple—clients should assume they’ll pay tax on any income or disposed assets based on the rates of the province they live in. But wealth management strategies tend to be more complex than that, especially if there are ways to avoid […]

By Kate McCaffery |April 6, 2010

4 min read

Decorative pattern

Estate Planning

Step-by-step selling

It's in the advisor’s interest to provide assistance should an entrepreneur consider selling their business

By Mark Groulx |April 1, 2010

5 min read

Decorative pattern

Estate Planning

For retirees, the cupboard is bare

For most retirees looking for a helping hand from the federal budget on Thursday, there was only one piece of good news: they likely won’t have to cope with any complex changes to their finances. In the spirit of belt-tightening, federal Finance Minister Jim Flaherty had few bones to throw to seniors. Aside from a […]

By Steven Lamb |March 4, 2010

4 min read

Decorative pattern

Estate Planning

U.S. estate tax laws are changing

set the top tax rate at 45%; index that amount for inflation; retain the U.S. $3.5 million exemption; make the same changes as Alternative 1, but apply a two-tiered rate: set the tax rate equal to the top rate on capital gains (currently 15% in 2010 and 20% thereafter); set the exemption for the combined […]

By Terry F. Ritchie |November 1, 2009

6 min read

Decorative pattern

Estate Planning

High-net-worth clients should draft dual wills

When a person dies leaving a will in Ontario, it isn’t uncommon for the executor of the estate to apply for a certificate of appointment of estate trustee with a will, a legal process where courts confirm the validity of the deceased’s will, and the executor’s authority to act on behalf of the estate. An […]

By Akua Carmichael |October 1, 2009

4 min read

Decorative pattern

Estate Planning

Bequeathing the family cottage — Part II

In last month’s column, I discussed some of the key issues involved in cottage succession planning. This month, I’ll consider four case studies that highlight how different strategies can work in different client situations. Each strategy can help minimize the financial impact of a cottage transfer, while also managing some of the emotional impact. The […]

By Michelle Munro |September 22, 2009

7 min read

Decorative pattern

Estate Planning

Complement RESPs with in-trust accounts

Sometimes learning how to fund an education is an education in itself. The foundation for this exercise is the Registered Education Savings Plan, but with the cost of post-secondary education continuously rising, make sure your clients aren’t fooling themselves into believing that blindly maxing out RESPs puts their children at the head of the class. […]

September 1, 2009

3 min read

Decorative pattern

Estate Planning

Ensure legal soundness when rearranging mortgages

It’s been just over eight months since the Supreme Court of Canada effectively blessed the plain vanilla debt swap strategy, often known as the “Singleton shuffle,” in the now- infamous Lipson decision, involving the General Anti-Avoidance Rule (GAAR). Advisors will recall in the Lipson case, Earl and Jordanna Lipson wanted to buy a home. Jordanna […]

September 1, 2009

3 min read

Decorative pattern

Estate Planning

Can kids handle the inheritance?

Wealth is rarely instantaneous. As advisors, we assist many of our clients with putting in a great deal of hard work, sweat equity and time to build up savings and create a legacy for their families. And the greatest fear many financial advisors face is seeing a son or daughter – unprepared to deal with […]

By Paul Gleeson and Warren Miles-Pickup |September 1, 2009

5 min read

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