Life Insurance for Business

Life Insurance Solutions for Business Owners

There are over a million small businesses in Canada, and if you own one of them, there’s a very good chance you need life insurance.
Life insurance is an essential part of planning for the future of your company. When you own a business, many people outside of your family depend on you for their livelihoods, and life insurance ensures a future for their job if you pass away.
Here are life insurance solutions for business owners:
Key Person Insurance
Key person insurance […]

RRIF Minimum Payments

New Legislation Passed to Reduce RRIF Minimum Payment for 2020

As part of the COVID-19 Emergency Economic Response Plan, the government has passed legislation that allows you to lower your Registered Retirement Income Fund (RRIF) minimum payment for 2020 by 25%.
If you currently have a RRIF, you can reduce your income to the RRIF minimum amount by 25%.
How Are RRIF Minimums Calculated?
Every year your RRIF minimum payment changes based on two factors: 1) Market Value of your RRIF on January 1st; and 2) the Government’s RRIF Minimum percentage for […]

B.C. Training and Education Savings Grant

Parents & Guardians: Claim Your Free Money for your Child’s Education

Are you a parent or guardian of a child between six and nine years old? If so, don’t be among the 40 percent of families who aren’t taking advantage of the B.C. Training and Education Savings Grant (BCTESG). After all, it’s free money! 
The B.C. Training and Education Savings Grant is available to eligible children during a three-year window only, and can be used for their future post-secondary education and training. Also, it’s not just parents who can open a […]

Estate planning with TFSA

What Happens to a TFSA When you Die?

Tax-Free Savings Accounts (TFSAs) are a great investment option with tax free investment growth and tax free withdrawals. Upon death, what happens to your TFSA depends on who the beneficiary is, or if you have named a successor holder.
TFSA Successor Holder or Beneficiary
Let’s look at the difference in tax consequences and probate, assuming the following designations:
Successor Holder – Spouse
Only your spouse can be designated as the successor holder of your Tax-Free Savings Account. The successor holder is designated instead […]


New Retirement Investment Vehicle coming in 2020

The federal budget has introduced a possible solution to help Canadians highly concerned about out-living their money. A recent CBC news article refers to a new type of retirement savings product — ALDAs, or Advanced Life Deferred Annuity, and VPLAs, or Variable Payment Life Annuities — that may be hitting the product shelves of financial institutions in 2020. 
The plan will allow retirees to keep more savings tax-free until later in retirement. The rules are being amended to permit seniors to purchase […]


The Leap of Faith That Changed Our Lives

Moving to Vancouver Island from Metro Vancouver
My husband and I had grown all our roots in the Lower Mainland and were fortunate enough to enter the real estate market 10 years ago. After moving and flipping our house every 2-3 years we really wanted to settle down and become part of a community. We had realized that our community in Cloverdale wasn’t where we wanted our kids to be raised in; we were spending more time at work and […]