As an advisor, you may run into situations with your clients wherein their estate plans may be challenged by beneficiaries who feel they were not awarded their "fair" share of inheritance. The increased complexity of today’s society (blended families, individual financial arrangements, etc) requires well-documented estate plans.
A heavy tax burden is a grave concern of surviving families as many Canadian family businesses owners take an approach to tax planning that is ‘too little, too late’, according to the Canadian results of PwC’s latest Global Family Business Survey. The study noted that the majority of Canadian family business owners are not fully […]
2010 was a good year for the Canadian economy. “Canada was one of the first G7 nations to climb out of the recession,” said Mark Fieldhouse, principal, investment consulting practice, with Mercer, speaking today at Mercer’s 2011 Fearless Forecast at The Toronto Board of Trade.
Elena Hoffstein is a partner in the law firm Fasken Martineau DuMoulin. In addition to personal tax and estate planning, her practice includes charities and not-for-profit law. This conversation focuses on philanthropy as part of an estate plan.
The wealth management landscape in Canada changed on Monday, with the announcement that Scotiabank would buy DundeeWealth. While the obvious change in the industry was the elevation of Scotia within the asset management business, the deal helped define the market, according to Bruce R. Jackson, president and chief operating officer of Cumberland Private Wealth Management. […]
Canada’s millionaires don’t have much faith in the future. According to a new study conducted by RBC Wealth Management, 58% of millionaires think their children are facing an uphill battle when it comes to managing their finances and 49% don’t have confidence in their children’s abilities to manage the inheritance. They are living for today […]
A successful entrepreneur usually encounters many difficult decisions when preparing his or her succession and estate plan. One of those decisions is whether to implement an estate freeze. Let’s look in on Michelle , our case study, as she struggles with that question while developing her succession and estate plan. Michelle is 58 years old. […]
BANFF – The financial services industry is rife with legal pitfalls stemming from potential conflicts of interest, but not all of these involve the interests of the advisor. There is a very real possibility the conflict you face could be between two clients, as a marriage falls apart. The good news is that there is […]
Many Canadians have built their wealth by operating a small business. Now, with an aging workforce and an economy on the upswing, many owners are weighing the benefits of selling their business to a third party or of transitioning it to a family member.
It’s a commonly used financial device between spouses