Category Archives: Blog

Here are some of the benefits you may enjoy by having a trust. 1. Saving taxes You can save on taxes by having a trust, For example, it’s possible to split income with lower-income beneficiaries by allocating income of the trust to those beneficiaries to be taxed at their lower rates (though there are some […]

Unlike the U.S., Canada has no estate or inheritance tax. Yet despite this, death can trigger a significant income tax bill that, if not properly planned for, can leave an unexpected liability when a loved one passes away. Here is what happens to your non-registered and registered assets when you die: Non-Registered Assets The general […]

Hearing that you ought to update your will is little bit like being told to take up jogging. Everybody knows it’s the right thing to do, but that doesn’t make it any easier to get started. Douglas Gray has made it his mission to do exactly that. The former lawyer left his practice at the […]

A family sold their legacy real estate portfolio for $120 million, creating a tax liability of $25 million. They were prepared to pay the tax with no better options available.  When asked, the client was willing to consider making a charitable donation to mitigate the taxes payable and preserve the family wealth.  How it’s done: […]

Can you imagine what would happen if you died and your beneficiaries didn’t know where to find your will? Or your money? It happens all the time according to Jim Yih, author of the personal finance blog, retirehappy.ca: “When someone dies, there are a whole bunch of questions that need answers but the only person […]

If you are a business owner, your estate plan should cover both your personal and business assets. Estate planning for business owners is more complicated because it needs to address issues, such as: • larger and more complex estates, • business succession, and • complicated tax issues. Here are some of the questions you should […]

If your corporation has more than one shareholder, a shareholders’ agreement should be drawn up to establish the ongoing rights and responsibilities of the shareholders in the ownership and administration of the company. One of the more important aspects of the shareholders’ agreement is that it should specify what should happen in the event of […]

You’ve worked hard to build up your money. Now how do you make sure you can pass on as much of it as possible to your children and grandchildren? After years of working and saving, strategizing and goal-setting, it’s not uncommon to want to ensure you can pass on the money you’ve built up to […]

One thing you must do in order to succeed is to purpose in your heart that you will be proactive in every area of your life, rather than being reactive. Be proactive. Don’t just let things happen to you. Dictate the things that you experience in your life, as much as you can. In business, […]