As a business owner, having a well thought out tax and estate plan is key for financial success.
Whatever your motives, it almost never pays to look for quick investment returns when a pandemic breaks out.
Individuals can grant powers to others to manage their affairs in a number of different circumstances using various types of documents, often known as a power of attorney. Being appointed as a substitute decision-maker for someone’s financial affairs through a power of attorney is a huge honour and obligation. Here are some of the more important things to keep in mind for those taking on this significant role.
For many families, it is much more important to preserve the family cottage than any other asset. Those who want to leave the cottage to their children must plan for the tax consequences and disputes which may arise upon their death. The concepts here apply to any vacation property, including a ski chalet or condo.
When an estate or gift is left to a child, it can be subject to a family property claim if the child later separates or divorces. But, there are ways to protect the inheritance, which ensures your child is the sole beneficiary.