Beneficiary Designations – The Do’s & Don’ts

Many people designate a beneficiary of their RSP, RIF, TFSA or insurance policies without giving it a second thought. However, there are many cases where designating a direct beneficiary is not recommended. This is a “cheat sheet” as to when direct beneficiary designations should not be used.

Canadians Owning Vacation Properties in the U.S.

This article provides a brief overview of selected US & Canadian income tax consequences for Canadians owning US real estate as personal use property, as well as some of the implications of renting your property.

Canadians with US Retirement Plans: Tax & Investment Considerations When Returning Home

For Canadians living and working in the US, there are several things to consider – this includes applying for a visa & figuring out what the Canadian tax implications & US tax implications of living and working abroad will be, and what to do with their US retirement plan to which they contributed while living abroad.

Estate Planning Guide

Every estate plan is different your plan should address your particular needs. There are many elements that make up a properly structured estate plan. Let us clarify what you need to know to create the right plan for your loved ones.

Family Investment Trusts

A family investment trust might be right for you if you have cash and investments that are not needed to fund your own lifestyle needs, plus a desire to establish an investment fund for the next generation or provide funding or schooling or other extra expenses for a child or grandchild.

Income Splitting: Understanding the Changes & Exclusions

Effective January 1, 2018, the Department of Finance amended measures with respect to the expansion of the tax on split income rules. The following is a summary of those measures and how they might apply in certain situations.

Passive Income Q & A

Canada’s Federal Department of Finance in 2018 introduced measures aimed at reducing access to the Small Business Deduction once passive income earned by the Canadian Controlled Private Corporation (CPCC) exceeded a $50,000 threshold. The following highlights frequently asked questions resulting from the release of the measures.

Time in the Market, not Timing the Market, is What Builds Wealth

Market pullbacks are frequent and avoiding just a few of them could potentially add significantly to investments results, but attempts to avoid pullbacks more often lead to missing out on significant advances, and missing out on just a few of these can be devastating to investment results.

Assistant for Clients with US Tax Filing Obligations

If you are a US citizen, green card holder, or resident, you are likely aware that you are subject to tax in the US on your worldwide income & have annual US tax reporting obligations.

Estate Planning for Blended Families

Estate planning for blended families in common-law jurisdictions brings many scenarios & can be complex. Challenging situations can be avoided by first considering everyone’s interests & needs in the structure of your plan.

US Estate Tax: What Canadians Should Know

Many Canadians do not know that they are subject to US estate tax on certain assets with ties to the United States. This can have significant unanticipated implications when an estate is left to future generations & why planning ahead is key.

Vacation Property Succession Planning

For many families, it is much more important to preserve the family cottage than any other asset. Those who want to leave the cottage to their children must plan for the tax consequences and disputes that may arise upon their death. The concepts here apply to any vacation property, including a ski chalet or condo.

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