Illness and incapacity take many families by surprise. A loved one may be rational and coherent one month, but his or her health declines rapidly the next, rendering the loved one unable to make important decisions related to finances and health care.Because...
You may have heard it before, but it bears repeating: it's never too early to start planning your estate.Why? Life is unpredictable, and if you don't have a proper estate plan, the naming of an executor and the distribution of your assets will be determined by the...
It is estimated that more than 16 per cent of Canadians were over the age of 65 in 2015, and Baby Boomers outnumbered children aged 14 and under.With this significant demographic shift will come an immense transfer of wealth in the next 10 years. In fact, Baby Boomers...
The federal government recently issued new rules for the Principal Residence Exemption (PRE), which allows for exemption from tax on capital gains if you are selling your primary residence.The rule changes are meant to ensure that only Canadian residents benefit from...
Of all estate-related decisions, choosing an executor is one of the most important. If you choose the wrong person -- someone who turns out to be untrustworthy -- your life's savings could be squandered, and your loved ones could be badly hurt, emotionally and...
The Ontario Disability Support Program (ODSP) can be a great help to parents of children with disabilities. However, payments from the program end when your child reaches age 65. Additionally, your child's receiving an inheritance can result in the loss of ODSP...
If you own a family cottage, it is undoubtedly a place of comfort and good memories. However, the cottage can also become a point of contention among family members if the proper planning isn't done.In far too many cases, family disputes erupt over what to do with the...
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