Bed Bath & Beyond announces plan to raise $1 billion, stock falls 24% – Yahoo Canada Finance + MORE Feb 6th

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Low risk, high interest rates and guaranteed returns are the features making guaranteed investment certificates (GICs) very attractive right now. When stocks were riding high two years ago and interest rates were under 1%, few investors were interested in GICs. In 2022, they made a remarkable comeback, helped by Canada’s astonishing rise in interest rates. For context, Canada’s average deposit interest rate has risen to over 4.5%, from a historic low of -0.1% in October 2020.

With some GICs now offering over 5% interest per year, investors are paying attention—especially since North American stock markets saw corrections of 15% to 30% in 2022, depending on which major index you track. If you’re in the market for GICs, read on to learn how they work and how they are generally taxed—plus how you can save money by holding GICs in a registered account.

What are GICs?

A guaranteed investment certificate is an investment that guarantees the return of your capital plus an annual interest rate that is generally pre-determined…

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If you’re looking for a way to earn more interest than a savings account can provide, without taking the chance of losing your principal, you may want to consider guaranteed investment certificates (GICs). Offered in Canada through financial institutions, these ultra-low-risk investments earn guaranteed interest income and can be a valuable component of a balanced investment portfolio.

What are GICs? What benefits do they offer?

GICs are a type of investment designed to protect your money while paying interest. When you buy a GIC, you typically lock in your investment for a set period of time, known as the term. In exchange for your capital, the issuing financial institution guarantees you an interest rate up front. When the GIC reaches its maturity date (the end of its term), you get your principal back plus interest. (Some GICs can be redeemed early—more on this below.)

Some of the benefits of GICs include:

1. Guaranteed returns

For GICs that pay a fixed interest rate, you know exactly how much your investment will make—and when you will be paid—no matter what happens in the financial markets…

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It’s tax time again, which means Canadians may be thinking about tax-smart ways to invest to reduce their tax burden next year. Chances are, you’ve seen and heard more about guaranteed investment certificates (GICs) in recent months than ever before, and there are concrete reasons why. Read on to learn more about how adding GICs to your investment portfolio may help bring safe and solid returns.

How GICs work

When you purchase a GIC, you agree to leave a deposit with the bank for a certain amount of time—the term—and in return, the bank agrees to pay you a guaranteed interest rate. The key word here is “guaranteed,” meaning that you aren’t at the mercy of market fluctuations, and 100% of your principal is protected.

As long as you don’t withdraw your money during the term, you’ll earn that rate when the GIC reaches its “maturity date,” or the end of its term. The exception is redeemable (or cashable) GICs, which you can cash in earlier—more on that below…

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How does my husband request a loan to begin probate costs? Who and where would he turn to? No money is in the bank account, but the deceased does have a house and property, as well outstanding bills.—Bonnie

Responsibilities of an executor during probate

I assume that your husband is named as executor of the estate of the deceased, Bonnie. An executor (or estate trustee) is typically named in a will, but it can apply to the court to be appointed if there is no will.

It is the responsibility of the executor to pay all debts (including funeral and testamentary expenses), inheritance (plus succession duties), taxes, as well as other related liabilities of the deceased in Canada and abroad. If the estate has more liabilities than assets, the estate could be considered insolvent.

Creditors are to be paid in a particular order, and the executor can be personally liable for not adhering to the correct sequence. That said, neither the executor nor the beneficiaries needs to personally pay off the debts of the deceased if the estate is insolvent…

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Bed Bath & Beyond announces plan to raise $1 billion, stock falls 24%  Yahoo Canada FinanceBed Bath & Beyond Plans Share Sale in Bid to Avoid Bankruptcy  BNN BloombergBed Bath & Beyond moves to raise $1 bln to avoid bankruptcy  Reuters.comBed Bath & Beyond stock rallies 115% as meme stocks soar  Yahoo News CanadaBed Bath & Beyond shares post record gain in heavy trading  BNN BloombergView Full Coverage on Google News

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