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Latest News
Tighter rules prompt mortgage slowdown as CMHC insured 41% fewer loans so far this year May 30th
Canada's housing agency saw a sharp decline in the number of home buyers who qualified for mortgage insurance under tougher rules implemented last fall..... More »
4 Low Risk Alternatives to Chequing Accounts Jan 27th
Investments like stocks, mutual funds, or cryptocurrencies carry some level of risk which you might shy away from for a variety of reasons. Whether you’re saving for college, getting ready to buy a house, or nearing retirement, if you’re looking for safer investment options, here are some o.... More »
Egan: Bank tells senior who got stuck in Antarctica he's too old for credit card's travel insurance + MORE Jun 3rd
Robin Farquhar has one of those wonderful-sounding travel credit cards, ScotiaGold Passport Visa, that comes with six types of insurance coverage — everything from burglary to lost luggage to cancelled flights. As a longtime Bank of Nova Scotia customer, imagine his reaction, a year ago, .... More »
Do I really need life insurance? + MORE Jul 31st
Life insurance shouldn’t be one of those things you put off thinking about—because you (and the people who depend on you) could need it at any time. But many do wonder if it’s worth the monthly premiums. How do you know if it’s necessary? Why do we need life insurance anyway?
“In gener.... More »
What is CDIC insurance, how it works and what’s covered Oct 30th
Toilet paper isn’t the only thing Canadians were hoarding early in the pandemic. Headlines were buzzing that the Bank of Canada was running short of $50 bills too. Whether you were stuffing cash in your mattress or in the bottom of your sock drawer, the truth is your savings are safer at a financi.... More »
Don’t procrastinate writing a will, experts say
– moneysense.ca
OTTAWA – It could be the most important document people write, and they won’t be alive to see it through.
Writing a will may be at the bottom of many to-do lists, but financial and legal experts say that laying out your wishes can ensure your money goes where you want and may save your estate from unnecessary bills after you’re gone.
Carol Harding, a wealth adviser with CIBC Wealth Advisory Services, says having a will is like having insurance.
“Hopefully nothing happens,” she said.
“But if something does happen, at least you’ve got the right paperwork in place to help the assets go to the right place.”
Estate planning: What you need to know »
When people die without a will, it is considered intestate and the courts will appoint an executor to administer an estate with the assets distributed according to the rules laid out provincially.
“What may happen is that there are assets allocated to children that might be needed for other purposes,” Harding said.
“If assets are transferred to a spouse — for example, RRSPs — they can transfer without being taxable, where if you have RRSPs and they are transferred either to a child or to a sibling, that becomes taxable income…
Writing a will may be at the bottom of many to-do lists, but financial and legal experts say that laying out your wishes can ensure your money goes where you want and may save your estate from unnecessary bills after you’re gone.
Carol Harding, a wealth adviser with CIBC Wealth Advisory Services, says having a will is like having insurance.
“Hopefully nothing happens,” she said.
“But if something does happen, at least you’ve got the right paperwork in place to help the assets go to the right place.”
Estate planning: What you need to know »
When people die without a will, it is considered intestate and the courts will appoint an executor to administer an estate with the assets distributed according to the rules laid out provincially.
“What may happen is that there are assets allocated to children that might be needed for other purposes,” Harding said.
“If assets are transferred to a spouse — for example, RRSPs — they can transfer without being taxable, where if you have RRSPs and they are transferred either to a child or to a sibling, that becomes taxable income…
