A living trust allows you to avoid probate, maintain privacy, and manage your assets during your lifetime. A will is simpler and ensures your final wishes are carried out, such as appointing guardians for minor children. The right choice depends on your financial situation and goals—for many, a combination of both is ideal.
In a recent study conducted by the Life Insurance and Market Research Association (LIMRA), it was reported that 61% of Canadians hold some form of life insurance. Surprisingly, it also revealed that only 38% of Canadians own an individual life insurance contract.
Considering that the proceeds of a life insurance policy are received tax-free upon the death of the life insured, it is not surprising that the premiums of the policy are not tax-deductible.
Succession planning is essential for businesses worldwide, but certain aspects make it particularly important in the Canadian context.
More people are creating information packages to help surviving family members make sense of how things work in their household.
Most of us have experienced or known someone whose family has been greatly impacted by a parent being diagnosed with a life-threatening disease or condition. But what about when it happens to children?
Martial status affects taxes and personal finances. Here are the key ways.
It’s essential to know the details of how life insurance works so you can decide what type of coverage you need, how much you need and how it will fit into your long-term financial planning.
One of the most common investment questions Canadians ask themselves today is, “Which is better, TFSA or RRSP”?
It is important to have a valid Will to avoid the challenges of intestacy – dying without a Will. Indeed, eventually, everyone ends up with a Will of one sort or other…
SWPP helps families and business owners in Ontario with comprehensive estate planning.
SWPP’s Living Estate Plan service ensures Ontario families have an estate plan or living trust that protects their assets from unnecessary taxes and fees, including probate.
16 Industrial Parkway South, Suite 609, Aurora, ON, L4G-0R4
