Tag Archives: WEALTH MANAGEMENT BLOGS

What Is an Estate Freeze? When a taxpayer passes away, subsection 70(5) of Canada’s Income Tax Act deems the taxpayer to have sold each capital property at its fair market value (FMV) immediately before death. This deemed disposition results in a taxable capital gain for any appreciated assets owned at the time of death. An […]

Introduction Underwriting plays a crucial role in the insurance process, influencing eligibility, premiums, and coverage limits. If you’re considering buying life insurance, understanding underwriting can help you navigate the process and even save money. What is Underwriting? Underwriting is the process insurance companies use to assess the risks associated with providing coverage. The level of […]

Introduction Life insurance is an essential tool to safeguard your loved ones’ financial future. It ensures that in the event of an unforeseen tragedy, your family is supported with a financial safety net. This article provides insights into what life insurance is, how it works, and the various options available. What is Life Insurance and […]

Introduction Life insurance is designed to provide financial security and peace of mind. However, neglecting to review your policies and beneficiary designations can lead to unintended consequences. Below are 12 common mistakes you can avoid to ensure your life insurance benefits reflect your current wishes and provide the protection your loved ones deserve. 1. Unintentionally […]

Introduction Insurance is more than just a safeguard against uncertainties; it’s a strategic tool that can help protect your wealth and even build it further. Whether you’re safeguarding your income, planning your estate, or securing your investments, the right insurance coverage can provide lasting financial stability and growth. Why Do You Need Insurance? Your greatest […]

Introduction Becoming the beneficiary of a life insurance policy is a significant responsibility and privilege, but it can also feel overwhelming, especially during an emotional time. Understanding the process of claiming and utilizing life insurance proceeds can help make this transition smoother. This article sheds light on key aspects of being a life insurance beneficiary, […]

Introduction Navigating wills and probate can be a daunting task, especially when you’re planning your estate or acting as an executor. Probate, which intertwines the certainties of death and taxes, can influence how assets are distributed and what financial hurdles may arise. This guide answers 16 key questions about probate, providing clarity and direction for […]

Introduction Forming a business partnership can be a thrilling and rewarding experience. A partner brings fresh ideas, complementary skills, and shared responsibilities. However, merging resources and goals also brings challenges. To ensure a successful partnership, it’s crucial to establish a solid foundation and protect your business from unexpected events. Here are key considerations and questions […]

Introduction Smoking has undeniable impacts on health, but its financial implications can also be significant especially when it comes to life insurance. Smokers often face higher premiums compared to non-smokers, reflecting the increased health risks associated with their habit. This article explores how smoking affects life insurance costs, what qualifies someone as a smoker, and […]

Introduction When it comes to protecting your most significant asset—your home—understanding your insurance options is crucial. Should you opt for mortgage insurance or a life insurance policy? While both provide protection, they serve different purposes and offer varying levels of flexibility and coverage. This article explores the key differences to help you make the best […]