Estate Planning

All in the Family: Estate Planning for Farmers

June 1, 2021blog, Estate Planning, farmers

Many farmers find it difficult to get any interest from their children in continuing to run the farm business – which can cause some complications when developing the best estate plan for farmers looking to retire.

In general, farmers are in an interesting position: they are asset rich due to the increased value of their land but struggle with the increasing costs related to their farming activities.

However, if the farm holds significant value but the children are not interested in working the land, what is a farmer to do?

Impact of Recent Events On Your Estate Plan

January 5, 2021blog, Estate Planning

A year ago, the projected deficit for 2020 was estimated to be $20 billion. Shockingly, as a result of Covid-19, this projection has risen to over $380 billion by the end of the year. So, what does that mean for tax rates and how will this affect your estate plan?

How Many Wills Do I Need?

December 1, 2020blog, Estate Planning

It is important to have a valid Will to avoid the challenges of intestacy – dying without a Will. Indeed, eventually, everyone ends up with a Will of one sort or other, either the deceased gets to decide how assets are distributed by writing one before death or the provincial authorities get to decide based on intestacy rules. So, it’s always best to get a Will written in advance.

The question is, do you need more than one? Getting one Will is trouble enough, so why would anyone want to have two?

Diversifying in Uncertain Times

November 1, 2020blog, Coronavirus, Coronavirus - Associates, Coronavirus - Practice Owners, Coronavirus - Retired, Coronavirus - Retiring, Estate Planning, Investment, Life Insurance

Uncertain about where to invest during Covid-19? It may be time to diversify through a Participating Whole Life policy

Preparing Your Heirs for Wealth

October 1, 2020blog, Estate Planning, Family, financial advice, financial planning

If you think your heirs are not quite old enough or prepared enough to discuss the wealth they will inherit on your death, you’re not alone. Unfortunately, this way of thinking can leave your beneficiaries in a decision-making vacuum: an unnecessary predicament which can be avoided by facing your own mortality and creating a plan.

Avoiding the subject of your own mortality can also be an extremely costly to those you leave behind.

The Need for Corporate Life Insurance

June 1, 2020blog, Business Owners, buy sell, corporate, Estate Planning, Life Insurance

Life insurance is used for two general purposes in a private corporation – managing risk and creating opportunities. The risk management function is satisfied as life insurance provides the corporation with a tax-free payment in the event of the death of an owner or someone vital to the success of the business. As life insurance also allows for the tax-sheltered build up of cash value additional planning opportunities are additionally created.

The Estate Bond

May 1, 2020blog, Estate Planning, Investment, Life Insurance

Growing your estate without undue market risk and taxes

Often we see older investors shift gears near retirement and beyond. Many become risk-averse and move their assets into fixed income type investments. Unfortunately, this often results in the assets being exposed to higher rates of income tax and lower rates of return – never a good combination.

Or maybe the older investor cannot fully enjoy their retirement years for fear of spending their children’s inheritance.

The Estate Bond financial planning strategy presents a solution to both of these problems.

Protecting Investments for Your Heirs

April 1, 20202020 Only, blog, Estate Planning, Investment, Retirement

Many investors over the age of 60 find themselves in a quandary regarding investments that they intend to leave to their heirs. The primary concern involves the desire to conserve the investments they are bequeathing while at the same time earning a reasonable rate of return. As we all know, the volatility of the equity markets can be cruel and this can be most detrimental when investments do not have time to recover after a downturn. As a result, many mature investors choose to accept low rates of return in order to avoid loss in the funds they wish to leave to family members.

Protecting Your Family

January 1, 2020blog, Estate Planning, Family, health benefits, Life Insurance

Let’s face it, raising a family today can be financially challenging. The cost of living continues to increase, housing costs are rising along with education and extra-curricular activities for our children. It is tough to make ends meet and still have something left over at the end of each month.

Six Important Reasons to have a Will

November 30, 2019blog, Estate Planning

It has been said that a Will is the last message you will leave your family. Having a Will can provide clear direction as to what your wishes are and who will get what. Die without a Will (known as dying intestate) and chaos will likely be the result. Having a Will allows you to provide for certainty instead of chaos.

Category: Estate Planning

All in the Family: Estate Planning for Farmers

Impact of Recent Events On Your Estate Plan

How Many Wills Do I Need?

Diversifying in Uncertain Times

Preparing Your Heirs for Wealth

The Need for Corporate Life Insurance

The Estate Bond

Protecting Investments for Your Heirs

Protecting Your Family

Six Important Reasons to have a Will

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