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Fear hinders effective transfer of wealth: SEI

A recent SEI Wealth Insight Initiative roundtable suggests that fear of negative outcomes and a lack of confidence in heirs are two of the biggest…

Business owners need succession help

Small and medium-sized business owners can make great clients. Their net worth is usually higher than average and their complex needs allow the advisor to…

Business owners need proactive tax planning

A heavy tax burden is a grave concern of surviving families as many Canadian family businesses owners take an approach to tax planning that is…

BMO offers guaranteed retirement income product

BMO has announced the launch of a new guaranteed income product aimed at clients aged 55 and up. The BMO Lifetime Cash Flow product bank…

  • By: Staff
  • January 18, 2011 August 21, 2018
  • 14:14

Incorporating charitable giving, estate-planning

Elena Hoffstein is a partner in the law firm Fasken Martineau DuMoulin. In addition to personal tax and estate planning, her practice includes charities and…

The first piece of the puzzle

Planning for the day a client passes away is one of an advisor’s more difficult tasks. It’s not just an emotional experience, it’s complex too.…

The crucial conversation

“It was a strange situation,” says Michael Berton, recalling one of his more unusual estate planning cases. “But it’s what the family wanted to happen.”…

Passing the baton

Many Canadians have built their wealth by operating a small business. Now, with an aging workforce and an economy on the upswing, many owners are…

Joint accounts and survivorship rights

It’s a commonly used financial device between spouses

Income splitting in the TFSA era

This Advisor.ca Special Report is sponsored by: The practice of income splitting has been around for decades. Simply put, it’s the process of shifting income…

Provinces crack down on aggressive tax planning

This Advisor.ca Special Report is sponsored by: On the surface, inter-provincial tax planning appears pretty simple—clients should assume they’ll pay tax on any income or…

For retirees, the cupboard is bare

For most retirees looking for a helping hand from the federal budget on Thursday, there was only one piece of good news: they likely won’t…

U.S. estate tax laws are changing

An awful lot is going on south of the border these days. The health care debate has received all the hype and attention of late.…

High-net-worth clients should draft dual wills

When a person dies leaving a will in Ontario, it isn’t uncommon for the executor of the estate to apply for a certificate of appointment…

Bequeathing the family cottage — Part II

In last month’s column, I discussed some of the key issues involved in cottage succession planning. This month, I’ll consider four case studies that highlight…

Complement RESPs with in-trust accounts

Sometimes learning how to fund an education is an education in itself. The foundation for this exercise is the Registered Education Savings Plan, but with…

Ensure legal soundness when rearranging mortgages

It’s been just over eight months since the Supreme Court of Canada effectively blessed the plain vanilla debt swap strategy, often known as the “Singleton…

Can kids handle the inheritance?

Wealth is rarely instantaneous. As advisors, we assist many of our clients with putting in a great deal of hard work, sweat equity and time…

How to appoint the right executor

Picking an executor is one of the most important decisions when your clients draft a will. Generally speaking, the executor implements your client’s last will…

Multiple jurisdictions might mean multiple wills

When advising clients on making a will, it isn’t uncommon to discover they have assets in foreign jurisdictions. That being the case, advisors need to…

Bequeathing the family cottage

In my last column, I discussed the two most basic elements of estate planning — wills and powers of attorney — and how they affect…

Insurance and the U.S. estate tax

Individuals in Canada often purchase insurance to help fund tax liabilities that arise on death. In addition, some insurance products are purchased as an investment…

Estate planning 101

A reluctance to tackle touchy subjects can prove costly. I remember a long-ago conversation with one of my earliest personal tax clients about aging parents…

Business bonanza

Whether it’s because they’ve decided to leave the corporate world to venture out on their own, reenter the business world after taking some time to…

  • By: Gena Katz
  • May 29, 2009 August 13, 2018
  • 11:04

How to minimize the U.S. estate tax

If you have a client who is married to a United States (U.S.) citizen or a dual citizen, you may need to advise the person…