Personal Finance When Life is Short

Financial planners often encourage their clients to think long-term. We are more cautious about the risk of living too long, longevity risk, than we are about dying young.   I subscribed to the print version of MoneySense magazine for many years before it went fully online. I...

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Estate Planning: Probating a Will

Probating a will sounds uncomfortable, doesn't it? Kind of like the legal equivalent of a doctor giving you a thorough physical exam…   Perhaps there is something to that analogy. Although simple, small estates with a single heir may not require probating, the probate process has value...

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What’s in a Title?

Regulating the Use of Financial Planner or Financial Advisor If someone were to tell you that they were a financial planner or a financial advisor, what would be your first thought? Mutual fund salesperson? Or perhaps, life insurance salesperson? Before I became involved in financial services...

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Sequence of Returns Risk

Coping with the Uncertainty of Investment Returns Imagine that you have been putting away $10,000 at the beginning of each year from 2002 until 2019. For the sake of this example, taxes and commissions are excluded; you have been investing that money into the Canadian stock...

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Charitable Giving

An Introduction to Estate Planning – Part 4 I read about a well-off senior couple who had four children. They decided to “adopt a fifth child” for estate planning purposes. This meant that, in their will, instead of distributing their assets four ways equally among their...

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Children: Trusts and RESPs

AN INTRODUCTION TO ESTATE PLANNING – PART 3.2 In my last post, I discussed the importance of naming a guardian in your will, someone who will take care of your children if you die before they are old enough to take care of themselves. Another item...

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