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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…

RESPs and estate implications

Registered education savings plans have become the cornerstone for saving for a child’s or grandchild’s post-secondary education. With this increased popularity, you can expect that…

TFSA holders don’t understand death benefits

Although minor, the ability to tack a beneficiary designation onto tax free savings accounts is one of those small bits of advice that can differentiate…

  • By: Mark Noble
  • April 20, 2009 September 5, 2018
  • 15:34

U.S. estate tax for Canadians

If you have Canadian clients who are married to a citizen of the United States or a dual citizen, you may need to advise them…

Income splitting: Assets, prescribed rates and personal loans

The Canada Revenue Agency (CRA) recently announced that the prescribed rate, the rate at which your clients can lend cash or other assets to family…

U.S. pensions and RRSP transfers

In both Canada and the United States, many employers are reducing their workforce numbers. If you have clients who have left jobs in the U.S.…

Registered losses deductible to estate

A small change in last week’s budget promises a benefit during declining markets: RRSP and RRIF losses will be treated fairly in estate distributions. When…

Cheap U.S. vacation property = big estate tax consequences

Lower United States property values and a stronger Canadian dollar have led many Canadians to consider purchasing their dream vacation properties in the southern U.S.…

TFSAs and estate planning

Much has been written about the new tax-free savings accounts: the accumulation of tax-free income, the ability to re-contribute withdrawals and the capacity to access…

Case study: How to use TFSAs for different client types

They say bad news travels fast, and this has undeniably been the case in the markets of late. I’ve been dismayed to see my equity-weighted…

Up to speed: An overview of tax changes in 2008

Need a little tax tutorial before plunging into another RRSP season? Bring yourself up to speed on this year’s tax changes with this succinct overview.…

Tax-loss selling might ease your clients’ pain

It’s not easy to find a silver lining in this economic downturn, but tax-savvy advisors don’t need to look too hard to uncover a saving…

More tax planning reading, resources and tools

Over the course of the year, the staff at Advisor.ca has written a plethora of articles about pressing tax issues. Don’t worry if you’ve missed…

Legally speaking: Botched beneficiary designations

Frequently when I review an insurance agent’s or investment advisor’s files I am surprised to see that a simple estate planning step has gone awry.…