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Recent Articles

Financial Planning Year-End Checklist

As year-end quickly approaches, it’s important to be mindful of potential year-end investment and financial planning strategies and reminders that could help you reduce your 2021 tax bill and prepare you for a successful 2022

Possible Income Tax Changes Following the Recent Federal Election

During the recent Federal election campaign, the Federal political parties released detailed election platforms outlining numerous tax measures. Given the continued minority Liberal government resulting from the September 20 election, it is worthwhile to review the Liberal election platform to consider possible future income tax changes.

Post-Election Economic Landscape

The incumbent Liberal government has secured another minority mandate in Canada's 44th federal election. While the final seat count might still drift around in the coming days as mail-in ballots are counted, the ultimate result is set.

Considering RESPs as Part of Your Estate Plan

Registered Education Savings Plans (“RESPs”) are popular vehicles chosen by parents, grandparents, and others to help set aside funds for a child’s post-secondary education. However, an RESP is an asset too often overlooked by individuals when it comes to estate planning. This article provides an overview of important estate planning considerations for RESP subscribers.

Wills That Work

Estate planning is an essential component of a successful wealth management program. A good estate plan will provide you with the peace of mind that comes from knowing your family will be taken care of, and your financial affairs will be in order and administered according to your wishes. An important key element of any estate plan is a Will.

The Emergence of Blended Charitable Gifts

A “Blended Charitable Gifts Strategy” refers to the practice of gifting something now, something later (a gift in a will) and something in between. This strategy gives donors the greatest opportunity to maximize their charitable giving, while taking into consideration their long-term financial needs. There are also significant tax advantages to giving during one’s lifetime, and additional tax advantages when a gift is made from an estate.

Donating Appreciated Securities

The benefits of making a charitable donation are countless – from helping those in need to the personal satisfaction of giving back to the causes that are important to us. Charitable giving also makes good sense from a tax perspective. With proper planning, you can reduce your total income tax liability and maximize the value of your donation.

Tax Planning Strategies

Tax Planning Involving Family Trusts

Trusts are often used in tax and estate planning because of the flexibility they offer over the control, management and distribution of appreciating assets. In an estate planning context, trusts can be used to provide control and protection of assets, reduce probate fees at death or serve as a Will substitute, and as a vehicle to transfer wealth to future generations.

Tax Planning Using Private Companies

As noted in our 2017 Federal Budget summary, the federal government indicated that it would review the use of certain tax planning strategies involving private corporations that it perceives unfairly reduce personal taxes of high-income earners through a variety of tax reduction strategies unavailable to other Canadians.

Estate & Succession Planning

Transferring Your Wealth to Future Generations

Wealth transfer is the most mature stage of wealth management and involves sharing or transferring your wealth to your chosen beneficiaries. Wealth transfer considerations can be as simple as making cash gifts to your grandchildren or as complex as setting up sophisticated trusts as part of your estate plan.

Wills That Work for Your Estate Planning Needs

A Will is a written document that directs how your assets are to be distributed at the time of your death. It should appoint an executor (“liquidator” in Quebec), and provide instructions for all your assets, including your business holdings and your personal effects.

The Consequences of Dying Unprepared

The key to any estate plan is a Will – a written document that directs how your assets are to be distributed upon your death. It should appoint an executor and provide instructions for all your assets, including your business holdings (if applicable), real estate, cash, personal effects, as well as the timeline and manner of their distribution.

Planning for the Family Vacation Property

If you own a vacation property, this provides information on the tax consequences of selling a second home and highlights important estate planning considerations, if your plan is to keep your vacation property in the family for the next generation.

Education and Knowledge

Canadian Ownership of U.S. Real Property

Many Canadians enjoy spending time in the U.S. and at some point may consider the purchase of a U.S. vacation property. As a result, it is important for Canadians who are considering the purchase of a U.S. residential property to fully understand the U.S. reporting and tax issues related to their ownership of U.S. real property, in addition to any Canadian tax implications.