The use of titles by financial professionals in Canada is not very well regulated. As a result, determining the difference between someone providing advice-only financial planning and fee-based investment services is difficult. But the differences are significant. In...
When someone dies in Ontario, their investments, real estate, personal belongings, other assets, and debts make up their estate. Assets that are not held jointly with right of survivorship or that do not pass directly to named beneficiaries may require an estate...
The article “Why it’s time for borrowers to accept the new normal of higher rates and plan accordingly” was originally published in Financial Post on November 29, 2022. PHOTO BY COLE BURSTON/BLOOMBERG FILES. Interest rate normalization is causing the...
The article “How much to take out of your RRSP in your 60s” was originally published in MoneySense on November 3, 2022. Photo by Marcus Aurelius from Pexels. Although RRSP withdrawals can be deferred no later than age 72, it may be necessary or advisable to make...
The article “What are the tax implications of selling U.S. real estate?” was originally published in MoneySense on October 31, 2022. Photo by Kampus Production from Pexels. Mary and Vic are selling a property in the U.S. and want to know what the capital gain...
The article “Financial gifts: What you need to know before giving money or investments” was originally published in MoneySense on October 28, 2022. Photo by Marcus Aurelius from Pexels. Whether you’re giving to a family member or a cause you believe in,...
The article “Can you avoid probate taxes on TFSAs?” was originally published in MoneySense on October 28, 2022. Photo by Sora Shimazaki from Pexels. Find out how to shield TFSAs from probate taxes, when no beneficiary or successor has been named for the...
The article “How to leave money to your grandkids” was originally published in MoneySense on October 28, 2022. Photo by Ekaterina Shakharova on Unsplash. If you’re a grandparent and want to leave money to your grandchildren, here are tips on how best to do that. In my...
The article “Is an RRSP loan a good idea?” was originally published in MoneySense on October 28, 2022. Photo by pressfoto from freepik.com. Depending on which tax bracket you’re in and whether you have other debt, you might be better off simply directing what you...
The article “How do the RRSP contribution carry forward rules work?” was originally published in MoneySense on October 28, 2022. Photo by SHVETS production from Pexels. What are the rules about RRSP carry forwards? Should you ever contribute the full amount?...
The article “Where do we pay income tax if we retire abroad?” was originally published in MoneySense on October 26, 2022. Photo by Mikhail Nilov from Pexels. There are tax implications in both countries if Marianna moves to Mexico full-time. Q. We’re thinking about...
The article “Could a line of credit impact my mortgage application?” was originally published in MoneySense on October 26, 2022. Photo by Sarandy Westfall on Unsplash. Line of credit payments and other non-mortgage debt are factored into mortgage affordability...
