Viewpoints about transferring wealth
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National edition: Wills 101¹
There are many good reasons to not procrastinate, but take steps now to prepare a will, especially when you consider the benefits and the small cost involved.
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Estate planning 101
It's not just for the older and affluent. Whatever your age or your assets, estate planning is a smart move.
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Protect your legacy¹: Take advantage of Segregated Fund Contracts to empower your bequests (National edition)
Ensure your family inherits quickly and cost-effectively
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When to consider the RRIF Successor Annuitant Option¹
If you want to provide for your children, or your spouse is incapacitated or financially irresponsible, consider naming them successor annuitant or Joint Life.
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Be Careful with Joint Ownership
Using joint ownership to avoid probate is a complex and potentially litigious process. Consider these other, less-risky methods that offer additional benefits.
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Taking capital gains or losses now to avoid probate and estate fees later
Triggering a capital gains tax bill to gain the wealth transfer benefits of segregated funds or insurance company GICs may increase an estate's final value.
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Keeping the Family Cottage in the Family
Passing on a family cottage? Half of any increase in value is taxable at death. This strategy protects against an estate having to sell a cottage to pay the tax.
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A testamentary trust or not a testamentary trust, that is the question
Maximize trust tax benefits: Assets passed into testamentary trusts enjoy graduated tax rates, while inter vivos trusts are taxed at the highest marginal rate.
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Understanding trusts and contracts held in trust
Learn trust basics: Formal vs. informal, attribution rules, end of the preferred beneficiary election, contracts held 'in trust'. Sample forms included.
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Joint tenants with rights of survivorship - An appropriate strategy?
Still an appropriate strategy? Recent case law suggests entering into a joint ownership arrangement with a right of survivorship needs careful consideration.
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