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February 2016 Archives

As average wealth of Canadians increases, asset distribution a growing concern among boomers

According to Statistics Canada, the average net worth of Canadian families has risen significantly in the last two decades. Between 1999 and 2012, average wealth increased by 73 per cent -- from $319,800 to $554,100. Much of this wealth is held by baby boomers, and it is estimated that, in the next four decades in North America, more than $30 trillion in assets will be passed from boomers to their heirs.

Lawsuit claims estate failed to provide for mentally incapable Ontario man

If you have an adult child with an incapacitating disability, then you undoubtedly want to plan your estate so that it provides for your child's needs when you are unable to do so yourself. There are numerous ways to do this, and it is important to choose the strategy that best meets your family's needs.

Helping your beneficiaries avoid taxes on RRSP distribution

Tax considerations regarding retirement assets are a critical aspect of estate planning if you want to minimize your beneficiaries' tax burden. Here let's discuss some basic strategies for ensuring that beneficiaries are able to access and make the most of any retirement savings to be distributed.

Being an estate executor is a job in itself, but there is help

In January we presented a list of duties for estate executors in Ontario. Although the list is not exhaustive, it begins to illustrate just how overwhelming the job of an estate executor can be -- because, make no mistake, it is a job.