As Canada's Baby Boomer generation approaches retirement, a critical issue emerges: how to ensure the smooth ownership transition in privately-held enterprises. Traditional succession paths—whether through family inheritance, management buyouts, or third-party sales—are increasingly untenable in today's evolving business environment. Enter Employee Ownership Trusts (“EOTs”), a sophisticated structure gaining traction in Europe, is now beginning to carve out a foothold in Canada.

Women globally earn just 84 cents for every dollar a man makes, a disparity that severely impacts financial well-being, particularly in retirement. In Canada, ranked 52nd for wage equality, women in British Columbia face an even wider 17% pay gap. These inequalities accumulate over time, resulting in women retiring with approximately 80% of what men do, all while living longer.

What is a Testamentary Spousal Trust?

A testamentary spousal trust is a legal arrangement established through a will to benefit the settlor’s surviving spouse. It provides an alternative to the outright distribution of estate assets, offering certain tax benefits and flexibility for managing complex family dynamics.

The proposed changes to the capital gains inclusion rates in the 2024 Canadian Federal Budget may have tax implications for incorporated physicians when they sell corporately owned assets.

Let’s explore how the proposed changes may affect Canadian physicians who invest within their holding companies, examining the current inclusion rates, the proposed alterations, and the potential impact.

While life insurance may not be the most glamorous aspect of financial planning, its use in estate planning is pivotal in ensuring the financial security and legacy of individuals, families and businesses.

Music is an integral part of our lives. It can lift our spirits and provide an escape from the daily grind. The growth in music consumption has made music publishing catalogues an attractive investment.

Have you ever wondered how to invest in music?

Is there a certain level of wealth that confidently removes financial concerns in retirement?

Not quite.

More wealth often means more complexity, more taxes, more maintenance, more advisors, more fees, and overall, more hassle.

The first home savings account is a type of registered account that was designed to help individuals save for their first home purchase. If you are a resident of Canada with a valid SIN, are the age of majority in your province, and are considered a first-time home buyer, you may be eligible to open a FHSA.

Over the last few decades there has been a growing trend from institutional investors, like pension plans, to diversify beyond stocks and bonds into alternative investments.

So, what are the alternative investments that pensions are allocating to? Continue reading to find out.

In an ever-evolving world, women take on increasingly vital societal roles, becoming influential decision-makers, entrepreneurs, and leaders in various industries. By 2024 the privately held wealth of Canadian women is estimated to rise from $1.2 trillion to $2.7 trillion, representing 50% of total wealth in Canada.

The BC Property Tax Deferment program is a lower-interest loan program offered by the province of BC for those in need. The province will pay your municipal property tax bill and charge you competitive interest rates for the money loaned to you.

Life insurance is just one of the various ways Canadians can donate to charitable organizations and receive a donation tax credit. This is accomplished by the donor making the desired charity the owner of the donor’s new or existing life insurance policy.

The TFSA can be an very powerful tool for wealth generation. Investment income earned inside your TFSA (interest, dividends, and capital gains) do not create an income tax liability.  Gains are truly tax-free.

If you were successful in generating wealth during your working years, your advisor or financial planner may inform you that you have more money than you will ever spend. Instead of worrying about “do I have enough,” your concern shifts to “how do I protect what I have saved?”

Several times a year, I receive questions from clients about adding an adult child as a joint owner of their assets.  This could be bank accounts, investment accounts, or even as a joint owner of their home. 

The TFSA can be a very powerful tool for wealth generation. Investment income earned inside your TFSA (interest, dividends, and capital gains) do not create an income tax liability. Gains are truly tax-free.

No one wants to run out of money during retirement. That is why the most common question I get asked is, “do I have enough?”

Don’t ignore expenses you know are coming (new roof, new car).

How does your advisor pick which clients receives the first phone call when the next 2008 happens?

Sequence risk becomes a big problem once you start withdrawing from your portfolio.