Estate Planning

Canadian Legal Wills Review: Canada’s Best Online Will Kit

Canadian Legal Wills Review: Canada’s Best Online Will Kit

By Kyle Prevost / June 14, 2020 /

When I was asked if I wanted to write a Canadian Legal Wills review in exchange for a free trial of Canada’s best online will kit, I have to admit that I was embarrassed.

You see… until yesterday I didn’t have a will.

I know… statistics show that roughly half of Canadian adults don’t have a will, and only a third or so have one that is up to date.

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what happens to your RRSP and TFSA when you die

What Happens to your RRSP and TFSA after you Die?

By FT / April 29, 2019 /

Last week, I wrote about the most efficient way to withdraw from your accounts during retirement.  Within the article, I mentioned that while the general rule of thumb is to keep your RRSP as long as possible, there are some situations where drawing down on your RRSP first makes the most sense. This is particularly…

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Letter to My Wife – How our Finances Work

By FT / September 27, 2015 /

Its not uncommon for families to have a designated money person.  Some families may have one spouse who takes care of the bills, while the other takes care of the investments.  In other cases, it may be completely one sided with one spouse taking care of the household financial issues. In our household, I’m the financial enthusiast,…

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Estate Planning for a Family Business using the Tax Free Spousal Rollover

By FT / April 22, 2014 /

One topic that I’ve been thinking more about lately is estate planning.  It’s a pretty morbid topic and most would rather avoid the topic altogether.  However, poor estate planning can lead to a much higher tax bill than neccessary.  While I’ve written about preparing a will, testamentary trusts and even living trusts, I’ve never really…

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How Testamentary Trusts Work

By FT / March 5, 2012 /

A little while ago, I was invited to a local CIBC event that featured a presentation by Jamie Golombek.  For those of you who haven’t heard of Mr. Golombek, he’s the Managing Director, Tax and Estate Planning for CIBC, and regularly publishes tax articles for the Financial Post.  I was a fan of Mr. Golombek…

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Estate Planning – Where is Your Money Going?

By FT / July 18, 2011 /

I’m not sure if it’s a recent hot topic, or if it’s because my mind has been on it, but estate planning and inheritance seem to be popping up all over the personal finance landscape (see Canadian Capitalist guest post). While our current wealth is modest, I imagine that the more time our investments have…

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Succession Planning of the Family Chief Financial Officer (CFO)

By FT / November 15, 2010 /

Now that’s a fancy title for a fairly simple concept.  With a recent comment about term life insurance, it got me thinking about my mortality again.  As the family Chief Financial Officer (which you probably are as well), there is a lot of financial information stored inside my head that my spouse most likely knows…

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Talking About Finances With Your Aging Parents … or Grown Kids

By Kathryn / January 28, 2010 /

There are some conversations in life that are more difficult than others. Bringing up the subject of money with your aging parents or grown children has the potential to get messy. It’s a sad but true reality that our days are numbered and for the millions of aging baby boomers with their billions of combined…

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