Tax

Legally speaking: Botched beneficiary designations

Frequently when I review an insurance agent’s or investment advisor’s files I am surprised to see that a simple estate planning step has gone awry. In an RRSP or RIF there should always be a beneficiary designation. In life insurance especially, failing to have a designated beneficiary simply makes no sense. Given the role both […]

By Harold Geller |October 23, 2008

4 min read

Companies jockey for position on TFSA

Although never really in doubt, a new Conservative federal government ensures the tax-free savings account will be available January 1, 2009. The past two months have seen a deluge of financial institutions offering special registered TFSA accounts ready for action come January 1, 2009. With a contribution limit of $5,000 a year, it will be […]

By Mark Noble |October 21, 2008

1 min read

Protecting RRSPs from creditors

Many people in the financial industry take the view that Registered Retirement Savings Plans (RRSPs) are inferior to registered pension plans (RPPs). The reason? Creditor protection. Members of RPPs have historically been able to sleep a little better at night, knowing their retirement plans cannot be seized by any personal creditors they may have, unless […]

By Frank Di Pietro |October 17, 2008

4 min read

Nervous clients can take tax loss

Although most advisors would tell their clients not to sell, even as their portfolios take a big hit, a lot of investors are still getting out of the market. Luckily for panicky clients, bailing out of tanking investments means they’ve just accumulated capital losses. The benefit of a capital loss is that it can be […]

By Bryan Borzykowski |October 14, 2008

3 min read