Setting up a trust account to fund an athletic child’s educational expenses is akin to gifting the money. Parents who want to be repaid should…
Rules for donating art are strict, but the tax benefits can be beautiful
Title: Wealth Advisor, Forrest-Wood Private Wealth Management, ScotiaMcLeod
Warn clients that owning property located beyond Canadian borders doesn't mean it's outside CRA's grasp.
Matrimonial homes are subject to special rules regarding equalizing family property.
Test your knowledge of wills, trusts and estates.
Don’t go overboard
A client called me earlier this year with a strange question. He wanted to know if donating an organ or a piece of an organ…
Disagreements over marriage contracts can end relationships. But for NHL players and their partners, such documents are must-haves.
How to help ultra-high earners with short careers
Despite proposed tax-rate changes, they’re still effective
Not all relationships are treated equally
Complications abound, so be careful
Let’s consider three examples to see which is better
Help executors avoid these common errors.
Using an investment corporation to hold a portfolio can have tax advantages. But those advantages vary, depending on where clients live and what they invest…
Advisors often recommend life insurance based on the fact that it’s easy for heirs to collect policy benefits. But executors, known as estate trustees in…
Avoid common mistakes
Make sure charitable bequests are honoured.
As an advisor, it’s your job to prepare couples for their worst-case scenarios in the event they split.
No matter how well someone crafts her estate plan, ex-spouses, disgruntled business partners, estranged children and misguided family members can still challenge her wishes. Estate…
On October 31, the IRS released inflation adjustments for more than 40 tax provisions.
Big changes to CRA’s rules for testamentary trusts take effect in 2016.
The best way to learn is through mistakes. So here are three common estate planning offences.
Are you preparing your clients to handle their inheritances responsibly?