When contemplating how you want your estate to be divided, care should be taken when it comes to making use of beneficiary designations for registered investments (RRSPs, RRIFs) and life insurance. Beneficiary designations allow you to bypass your estate and have certain assets (RRIF or life insurance) paid directly to your chosen beneficiary. This is…
Estate Planning
Donor Advised Fund
In our view, success in business and in life can be measured by the ability to make a positive difference in the lives of others. Many of the wealth-holders that we support have also come to realize that their personal financial success and comfort, while nice to have, is not what ultimately gives their life…
Keeping the Family Cottage…in the Family
With the recent real estate boom in BC, cottages and other vacation properties have increased significantly in value. Properties that have been held for many decades will generally be worth substantially more than their original purchase price. At death, 50% of this appreciation will be subject to tax. It’s a tax time bomb that many…
The Taxman Cometh
If you’re a business owner, then you’ve been put on notice that the federal government is coming for you. The Finance Minister’s July 2017 proposal for tax reform takes direct aim at those who operate their business through an incorporated entity and proposes some widespread changes, the likes of which we have not seen in…
The Importance of a Buy-Sell Agreement
You are a group of successful entrepreneurs who have worked hard to grow your business into a successful enterprise. This asset now represents a significant part of your wealth and you want to ensure that your investment value and the business itself are protected for the future. The Problem If your business loses an owner suddenly, the…