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Estate Planning Archives

Don't leave your digital legacy to chance

It is an increasingly relevant issue in modern estate planning: how to distribute (or otherwise deal with) one's digital assets. And by "digital assets" we mean anything from pictures on your Facebook page to online investments and electronic banking.

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.

A widow's cautionary tale of digital property and estate planning

As our lives become ever more entwined with online and digital activities, the distribution of digital assets is an increasingly relevant aspect of estate planning. In fact, we discussed the issue in one of our recent posts, "Does your estate plan account for digital property?"

Older Canadians may face capacity challenges less common among forebears

In 2014 life expectancy in Canada was the sixth highest in the world. According to the World Health Organization, men could expect to live to age 80 and women could expect to live to age 83. By comparison, in 1920 the expected ages were 59 and 61 respectively. Much has changed, in other words.

Does your estate plan account for digital property?

When planning the eventual distribution of your estate assets, one of your primary goals is to ensure that your wishes are communicated clearly. However, in a world increasingly characterized by our connection to digital technologies, estate planners have to think not only about which heir will receive what, but also about whether heirs have access to digital assets.

Ideas for discussing your estate planning wishes during the holidays

You're not alone if the prospect of talking with your heirs about estate planning makes you uncomfortable. In fact, earlier this year a poll by the Canadian Imperial Bank of Commerce showed that nearly 50 per cent of Canadians have not broached the topic of inheritance with their heirs, yet more than half of Canadians expect to leave assets to heirs upon death.

Committee considers new rules for financial advisors in Ontario

The Financial Planning Standards Council is the not-for-profit organization that establishes professional standards for financial planners in Canada. An appropriately qualified professional can earn a Certified Financial Planner certificate, but there is currently no legal requirement that a person become a CFP before charging Canadians for financial planning services.