You may have heard an oft-repeated advertisement in the media today that suggests that by reducing investment management fees, you have the potential to retire up to 30 percent wealthier. While few would choose to forego this amount down the road, it may be worthwhile to take a deeper look at these claims.
It is understandable that many of us prefer to avoid the subject of end-of-life planning, or at least try to put it off until the last moment. Yet, the pandemic should remind us of the importance of these discussions.
In married or common-law partnerships, using a spousal rollover1 has become a conventional strategy for many estate plans. Under a spousal rollover, any associated capital gains on certain capital property or registered plan income that transfers to a surviving spouse will be deferred until the spouse disposes of, or is deemed to have disposed of, those assets or withdraws them (in the case of registered plans).
With over one trillion dollars of inheritances expected to be passed along over the next decade, taking action to preserve wealth across generations has never been more important.1 Does your estate plan protect this wealth transfer? Here are some considerations:
In April, the federal government released its first federal budget in two years. Perhaps most notably, the federal government expects to continue its significant spending — over $101 billion for the next three years — to support strong economic recovery in the fight against Covid-19. It extended various emergency benefits, resulting in a record deficit and significantly higher projected debt for the foreseeable future.
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