Money is on the move from one generation to the next with almost $700-billion in financial assets set to transfer by 2026, according to J.D. Power’s 2021 Canada Full-Service Investor Satisfaction Study. Without appropriate planning, just imagine the tax bill.
Charles wants to know if he should consider buying wealth insurance in order to maximize the after-tax value of his estate. The short answer is: It depends.
Despite concerns about premature death, most Canadians live longer than they think they will.
A lot of personal finance is about trying to exert some control over the uncertainties of life. But the uncertainty of death may be easier to address.
A MoneySense reader writes: I’m writing to ask about beneficiaries, successor holders and successor annuitants for TFSAs and RRIFs. What is the difference between these, and how do you choose the right one for each account?
Here are five factors to consider when making your choice.
What are the rules about RRSP carry forwards? Should you ever contribute the full amount?
Under former Ontario law, when a person remarries after a divorce their previous will is no longer considered valid. As of Jan. 1, 2022, parts of the previous will remain in effect until a new will is drawn up.
Many Canadians put aside time early in the new year for a review of their finances and experts say a look at your will should be a part of the process in order to insure your estate plans are up to date.
Unlike investments, life insurance policies aren’t affected by market turmoil or lawsuits.
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