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Joint Ownership Alternatives

Joint Ownership Alternatives

Joint ownership is used by millions for various reasons. When problems arise, they are usually unintentional and it can be too late to remedy them. For example:

Jane wants to avoid probate with as much of her estate as possible. She also wants her daughter, Sally, to have easy access to her cash at death to take care of last expenses. Jane thinks...she can do this by naming Sally on her bank accounts jointly.

On the surface, this looks like a quick and easy way to accomplish what she wants. It's what lies below the surface that can sink her financial ship.

Proposed Tax Overhaul for Private Corporations

Standard financial and tax planning advice for the past several decades for business owners has included the use of incorporation to both insulate Canadians from business risk and liability and for asset building and income cash flow planning.

How's Your Net Worth?

His banker asked Trent what his net worth was for a loan he was applying for. He had trouble answering the question right away.

What is Net Worth?

Quite simply, net worth is the difference between what you own and what you owe. But true net worth may not be quite that simple.

Will Your Estate Have Enough Cash?

We've all heard that life has two certainties - death and taxes. You need to know the two often coincide. While Canada does not have an official death, estate or inheritance tax, there are some postponed taxes that become payable on death. There are other obligations that need to be taken into account as well. Without proper planning, an estate may have to face large and unexpected cash shortages. Consider:

Era of Rising Interest Rates

Era of Rising Interest Rates

The recent increases in the Bank of Canada and Federal Reserve prime rate in the past few months signal the end of historically low interest rates. According to a Bank of England study released in early 2016, current low interest rates are the lowest in 5000 years of recorded history*!

Making the Most of Your TFSA

Making the Most of Your TFSA

Being such a new program, many Canadians do not fully understand the long-term power of the TFSA tax savings opportunities. It is much more than just an opportunity for saving — it can be a powerful and incredibly effective tool for an overall investment strategy. Here are some ways that you can use the TFSA for your long-term benefit and financial empowerment.

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