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Do you have to split your estate evenly between your children? Aug 23rd
A will is intended to outline your final wishes. But, sometimes an estate can be contested, and the courts can overturn the terms of a will and distribute the assets differently.
A good example is that of Pascuzzi v. Pascuzzi, a case recently heard by the Supreme Court of British Columbia. .... More »
Weekend Reading – FIRE, burning mortgages, tax breaks, Costa Rica and more + MORE Mar 2nd
Save, invest, prosper with My Own Advisor.
Welcome to my latest Weekend Reading edition – did you miss it last Friday?
If so, I had a good excuse. I was on vacation. That includes time away from work and the blog. Our vacation this winter was to Costa Rica, Tamarindo. This was our second t.... More »
Change Brexit course or face 'total surrender,' Boris Johnson warns - CBC.ca Nov 11th
CBC.caChange Brexit course or face 'total surrender,' Boris Johnson warnsCBC.caFormer U.K. foreign minister says Brexit talks are 'the biggest failure of U.K. statecraft since Suez' crisis. Thomson Reuters · Posted: Nov 11, 2018 6:09 PM ET | Last Updated: November 11. Boris John.... More »
How real estate is taxed during a separation or divorce + MORE May 15th
Ask MoneySense
What happens if a married couple separates, and they own a family house and a cottage. The separation is amicable and the couple would like to split the assets, with the family house going to the wife and cottage going to the husband. Would that trigger any taxes?
—Peter
Sepa.... More »
Stocks slump…Oil prices drop… Lagarde favours adding yuan to IMF currency basket Nov 14th
NEW YORK, N.Y. – Investors are licking their wounds after the stock market slumped to its second-biggest weekly loss of the year on Friday, breaking a streak of six consecutive weeks of gains. The Dow Jones industrial average fell nearly 203 points, or 1.2 per cent. The S&P 500 gave up abo.... More »
Household saving rate nears five-year low as financial risks increase
– theglobeandmail.com
Household saving rate is the lowest since the first quarter of 2010. The current household saving rate, at 3.6 per cent, has ebbed from 5.9 per cent in early 2013
Most actively traded companies on the TSX
– canadianbusiness.com
TORONTO – Some of the most active companies traded Tuesday on the Toronto Stock Exchange:
Toronto Stock Exchange (15,133.85, down 130.20 points):
Bombardier Inc. (TSX:BBD.B). Aerospace and transportation. Down two cents, or 0.82 per cent, to $2.41 on 10.9 million shares.
Black Iron Inc. (TSX:BKI). Miner. Down 1.5 cents, or 33.33 per cent, to three cents on 7.3 million shares.
Ram Power Corp. (TSX:RPG). Utilities. Unchanged at half-a-cent on 5.7 million shares.
Legacy Oil + Gas Inc. (TSX:LEG). Oil and gas. Up four cents, or 2.04 per cent, to $2 on 4.03 million shares.
B2Gold Corp. (TSX:BTO). Miner. Unchanged at $2.07 on 3.9 million shares.
BlackBerry Ltd. (TSX:BB). Wireless communications. Down 18 cents, or 1.30 per cent, to $13.69 on 3.8 million shares. The company unveiled its latest smartphone at the Mobile World Congress wireless show in Barcelona, offering a look at the first of four new smartphones it plans to release this year. Chief executive John Chen said the BlackBerry Leap will cater to the “low-to-mid” range phone market, and will go on sale in Europe in April…
Toronto Stock Exchange (15,133.85, down 130.20 points):
Bombardier Inc. (TSX:BBD.B). Aerospace and transportation. Down two cents, or 0.82 per cent, to $2.41 on 10.9 million shares.
Black Iron Inc. (TSX:BKI). Miner. Down 1.5 cents, or 33.33 per cent, to three cents on 7.3 million shares.
Ram Power Corp. (TSX:RPG). Utilities. Unchanged at half-a-cent on 5.7 million shares.
Legacy Oil + Gas Inc. (TSX:LEG). Oil and gas. Up four cents, or 2.04 per cent, to $2 on 4.03 million shares.
B2Gold Corp. (TSX:BTO). Miner. Unchanged at $2.07 on 3.9 million shares.
BlackBerry Ltd. (TSX:BB). Wireless communications. Down 18 cents, or 1.30 per cent, to $13.69 on 3.8 million shares. The company unveiled its latest smartphone at the Mobile World Congress wireless show in Barcelona, offering a look at the first of four new smartphones it plans to release this year. Chief executive John Chen said the BlackBerry Leap will cater to the “low-to-mid” range phone market, and will go on sale in Europe in April…
Yellen reports small dip in assets in 2014 to a range between $4.9 million and $13.4 million
– canadianbusiness.com
WASHINGTON – Fed Chair Janet Yellen may have gotten a job promotion last year, but her total assets don’t appear to have gotten a bump.
Yellen’s financial disclosure form for 2014, which was released Tuesday, showed a net worth of between $4.92 million and $13.37 million.
On the high end of the valuation, that represents a slight decline of about 5 per cent from 2013 when her assets were valued as high as $14.1 million.
On the government’s financial disclosure forms, officials are only required to put the value of their assets in broad ranges. So it is not clear what caused the small drop in her assets, many of which are held jointly with her husband, Nobel laureate economist George Akerlof.
Yellen in February of last year succeeded Ben Bernanke as head of the central bank.
According to her latest disclosure form, Yellen’s holdings did not change significantly from the previous year. Her largest asset is a Vanguard Index Trust investment fund valued at between $1 million and $5 million that she owns with her husband…
Yellen’s financial disclosure form for 2014, which was released Tuesday, showed a net worth of between $4.92 million and $13.37 million.
On the high end of the valuation, that represents a slight decline of about 5 per cent from 2013 when her assets were valued as high as $14.1 million.
On the government’s financial disclosure forms, officials are only required to put the value of their assets in broad ranges. So it is not clear what caused the small drop in her assets, many of which are held jointly with her husband, Nobel laureate economist George Akerlof.
Yellen in February of last year succeeded Ben Bernanke as head of the central bank.
According to her latest disclosure form, Yellen’s holdings did not change significantly from the previous year. Her largest asset is a Vanguard Index Trust investment fund valued at between $1 million and $5 million that she owns with her husband…
Yellen: Federal Reserve working to make future banking crises less likely and less damaging
– canadianbusiness.com
WASHINGTON – Federal Reserve Chair Janet Yellen says the Federal Reserve has worked hard to correct the mistakes exposed by the 2008 financial crisis.
She says the Fed cannot eliminate the possibility of a future banking crisis. But she says it can make them less likely and less damaging by limiting excessive risk taking and making sure that the nation’s biggest banks are better prepared to weather future problems.
She says before the crisis, the Fed focused too much on regulating individual firms and did not pay enough attention to ensuring the stability of the entire financial system.
She says the improvements the Fed has implemented include requiring banks to hold more capital to cushion against losses and testing them annually to see whether they can survive a severe economic downturn.
The post Yellen: Federal Reserve working to make future banking crises less likely and less damaging appeared first on Canadian Business.
She says the Fed cannot eliminate the possibility of a future banking crisis. But she says it can make them less likely and less damaging by limiting excessive risk taking and making sure that the nation’s biggest banks are better prepared to weather future problems.
She says before the crisis, the Fed focused too much on regulating individual firms and did not pay enough attention to ensuring the stability of the entire financial system.
She says the improvements the Fed has implemented include requiring banks to hold more capital to cushion against losses and testing them annually to see whether they can survive a severe economic downturn.
The post Yellen: Federal Reserve working to make future banking crises less likely and less damaging appeared first on Canadian Business.
Cover preview: Inside the inheritance wars
– macleans.ca
THE COVER STORY
Canada is in the midst of the largest intergenerational wealth transfer in its history, with an estimated $1 trillion in family wealth being passed down from the so-called “Greatest Generation,” raised during the Depression and the Second World War, over the next couple of decades. But for many Boomer recipients of this massive mass inheritance, the money can’t come soon enough.
Half of homeowners in their 50s still have mortgage debt, and an equal share of Canadians expect to retire before they’ve paid off their homes.
Laden with credit card debt and car loans, Boomer children need cash to maintain their standard of living, say experts, and their desperation is starting to show.
Court files are replete with challenges to wills involving claimants nearing retirement age, while the sheer nastiness of family battles is on the rise.
Parent against child, sibling against sibling, Maclean’s takes readers inside the inheritance wars.
COMING SOON
Our new issue — on digital newsstands Wednesday, in real-life Thursday and beyond…
