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Faceoff: Should young people have wills?

Do twenty- and thirty-somethings need wills? Experts remain divided.

Despite solid will, last wishes of art collector thwarted

The story of American art collector Charles Loeser shows a detailed will is no guarantee your client’s wishes will be fulfilled, reports the L.A. Times.

  • By: Staff
  • September 9, 2013 August 21, 2018
  • 05:59

When the prime minister’s your client

Testamentary, inter vivos, insurance and alter ego trusts are all effective vehicles for a variety of planning needs. There’s another type that’s rarely used: the…

Minimize executor liability

Many clients will become executors for parents, family members or close friends. But the job’s responsibilities may expose them to significant liability.

If clients move, revisit their estate plans

Many advisors don’t realize clients have to revisit estate plans when they move to other provinces and territories. While taxation rules on death are generally…

Testamentary trusts still useful

For many Canadian families a straightforward transfer of assets will meet their primary estate planning needs. But increasing complexity around issues of asset control, protection…

Daughter wins estate battle, still can’t enter property

Elizabeth Plant finally has the keys to her late father's house, but she's been ordered by a judge to stay 500 metres away.

Plan for clients’ incapacity

Make sure they prepare both types of power of attorney

Protect clients before a third marriage

Your client is planning an elaborate wedding she hopes will erase any memories of previous, ill-considered, unions.

Donate for big tax savings

As superhero movies take over the box office, clients can do their part to help humanity by using the new First-Time Donor’s Super Credit (FDSC).…

Do clients feel guilty about inheritances?

Receiving a large, unexpected, sum of money has its advantages, but clients often have mixed feelings when that money comes in the form of an…

  • By: Staff
  • July 17, 2013 August 21, 2018
  • 11:40

Leaving money to an unborn heir

Karen is a single, 60-year-old retired executive with several million dollars worth of assets. Her twin daughters, Sarah and Leigh, are both pregnant. She wants…

Help clients keep windfalls

Good news. Easy money! Bad news. Easy money!

Are your retired clients carrying debt?

More than half (59%) of retired Canadians say they’re carrying debt.

  • By: Staff
  • July 15, 2013 August 21, 2018
  • 10:12

Family of former Sopranos star facing estate tax nightmare

Almost $30 million of the late James Gandolfini’s $70 million estate could be subject to a massive death tax, reports the New York Daily News.

  • By: Staff
  • July 15, 2013 August 21, 2018
  • 05:00

How to handle cross-border divorce

A solid financial plan can be destroyed when clients get divorced. This is particularly true when the divorce involves a couple with Canada-U.S. financial, tax…

The perils of not planning for incapacity

Understanding what happens when someone becomes incapable of managing her financial affairs or personal care, without having appointed a substitute decision maker, may help motivate…

Canadians keep executors in the family: BMO

56% of Canadians have a will in place, and 80% within this group plan to make the executor of their estates a member of their…

  • By: Staff
  • July 4, 2013 August 21, 2018
  • 11:27

Estate planning for Martian pioneers

More than 60 Canadians have applied for a one-way ticket to Mars. Are their estate plans ready to go, too?

Advise common-law clients to plan for split

Advise clients to sign the common-law equivalent of a pre-nup.

Beware the 21-year rule

Keeping the family cottage in a trust for longer creates a tax nightmare.

Estate planning with style

The last thing clients want to think about are funerals.

How to handle other people’s money

The roles and responsibilities of trustees.

Should clients rent or buy?

Historically, Young people have bought houses after getting married. These days, though, many newlyweds have no choice but to rent in expensive cities, while affluent…

Tax avoidance can damage your reputation: STEP chief

People aren’t as averse to paying taxes as they once were. “Twenty years ago both the government and the public as a whole took the…