Avoid Family Estate Conflicts with These 5 Strategies

Avoid Family Estate Conflicts with These 5 Strategies

It’s every parent’s dream to be able to pass along their legacy and leave something substantial and meaningful behind for their family. However, if you don’t tread carefully when creating your inheritance plan, you could end up inadvertently causing resentment between siblings and altering the family dynamic. To ensure everyone is happy and that you’re […]

Discuss Your Inheritance Plans

Discuss Your Inheritance Plans

You may be surprised to hear that many Canadians have not created a solid inheritance plan, even though they are expecting to leave assets to their loved ones. Creating a strategy is an important first step, but so is the discussion with the beneficiaries and a financial advisor. Keeping your inheritance private can cause all […]

Preventing Conflict Between Heirs

Preventing Conflict Between Heirs

Every family has their own complications and sometimes a death can exacerbate existing problems. When a parent dies and they are survived by their adult children who don’t have the most harmonious relationships or dynamics, this could affect their inheritance. Disputes between heirs in an estate distribution is a very common occurrence, and unfortunately can […]

Estate Planning Starts Now

Estate Planning Starts Now

Life is busy and requires non-stop planning to accomplish everything you need to do on a daily basis. We aren’t often prompted to plan as far ahead with our estate, but it’s much better to plan in advance than have your spouse, children, or siblings struggle to distribute and settle your estate with little to […]

Avoiding Hidden Tax Liability for Your Heirs

Avoiding Hidden Tax Liability for Your Heirs

Let’s say you bought a cabin in the Rockies many moons ago for $80,000. The property has already tripled in value, and by the time you pass you expect it will be worth about $400,000. The capital gain on your cozy cabin is $320,000. With a marginal tax rate of 45%, a capital gains tax […]

Naming Beneficiaries for Your Financial Assets

Naming Beneficiaries for Your Financial Assets

When naming a beneficiary for each of your financial assets, the obvious choice may not always be the best choice. You should consider tax and estate planning implications, among other things. We have listed important items you should consider when naming beneficiaries for major financial assets: Tax-Free Savings Accounts With a Tax-Free Savings Account (TFSA), […]

How to Choose the Right Estate Executor

How to Choose the Right Estate Executor

Everyone knows that it’s a smart and responsible choice to have a will, but not everyone understands the importance of selecting the right estate executor to help manage their affairs and distribute their assets upon death. Picking the right executor will mean that your loved ones will receive their rightful inheritance in a timely manner. […]

*The opinions expressed are those of the author and not necessarily those of Assante Financial Management Ltd.