Recent Articles

Is Credit Balance Insurance a Rip-off?

Posted on October 14, 2014

Graham, like millions of other Canadians, has and uses credit cards. He often carries a balance from month to month and is concerned about making the monthly payments if he becomes disabled or gets seriously ill. Graham doesn't want to stick his family with the balance if he dies before paying it off.

The credit card company offered him Credit Balance Insurance (CBI) that would take care of these concerns. After looking over the offer, he wondered if it was such a good deal.

Tags: 
insurance planning
debt management

Why Business Succession Planning Matters

Posted on October 14, 2014

Accounting firm BDO Canada, found that only one-third of family-owned businesses survive the transition to second generation, with just a third of these getting to the next a mere 1 in 10 chance of the business surviving for three generations. Often, the reason is insufficient planning.

Tags: 
business planning

The Planning Continuum

Posted on September 9, 2014

A question sometimes asked in the media is exactly what is the role of a financial professional and how do they help the client meet their life goals and dreams. Why do you even need to engage the services of a planner or advisor when so much information is already available for free on the internet and elsewhere?

Tags: 
financial strategies

Talking To Your Parents While There is Still Time

Posted on September 9, 2014

Many clients in their 50's and 60's are increasingly worried about the finances of their aging parents. This is especially true in an era of unprecedented low interest rates. They often ask: 'How do I talk to them about their care and their finances?'

This topic raises many sensitive family dynamics including the adult child who is uncomfortable raising the topic with their parents and parents who are in denial or not comfortable discussing these personal care and financial issues with their children.

Tags: 
financial strategies
eldercare

How to Benefit from Being Charitable

Posted on September 9, 2014

Charities play a vital role in our society. The Canadian government recognizes this role and tax breaks exist to encourage taxpayers to give to their favorite charities.

Roger makes occasional donations to various charities. His donations are rather small and amount to only a few hundred dollars per year. He learned that he might get a bigger tax break if he was a little more generous with his donations.

What if I Can't Look After My Affairs?

Posted on August 12, 2014

Clarke owned a small business that employed three other people besides him. He had sole signing authority on his business bank account, and personally had a joint mortgage on his home with his wife, Lois. His car was registered in his name only. Clarke was generous with gifts on special occasions and holidays for his children and his wife, and supported several charities on a regular basis.

Tags: 
eldercare
estate planning

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