All about Canadian investments. Learn the ins and outs and get the latest news.
Latest News
New Apple Leak Reveals Exciting MacBook Air Future - Forbes Nov 7th
New Apple Leak Reveals Exciting MacBook Air Future ForbesMemory leaks are crippling my M1 MacBook Pro–and I'm not alone MacworldShould you get the new Apple MacBook Pro 14? Notebookcheck.netDeals: Apple's 2021 16-inch MacBook Pro is back in stock and on sale right .... More »
Making sense of the markets this week: August 3 Aug 1st
Each week, Cut the Crap Investing founder Dale Roberts shares financial headlines and offers context for Canadian investors.
Gold outshines itself
Gold stole the headlines this week. That can happen when an infamous asset takes out its previous all-time highs.
Last Sunday, gold made another push a.... More »
What are the taxes on transferring real estate to your kids? Jun 27th
We purchased a condo for our son, who has been using it as his principal residence for over 10 years. He has made improvements, but the title is in our name. We would like to transfer the title to him, as he is now getting married.
How do we determine fair market value in a fluctuating mark.... More »
At 26, this millennial in finance is making $375,000 a year working in the U.S. Now, she wants to focus on writing a book + MORE Aug 23rd
“I entered finance in hopes of saving enough to take a shot at freelance writing for a few years, unconstrained by financial concerns,” Jen said..... More »
Blake Lively and Ryan Reynolds provide financial support for refugees - Entertainment News - Castanet.net Feb 27th
Blake Lively and Ryan Reynolds provide financial support for refugees - Entertainment News Castanet.netSupporting Ukraine: Canadians opening wallets CTV NewsBlake Lively and Ryan Reynolds Promise to Match Donations to Ukrainian Refugees Up to $1 Million PEOPLERyan Re.... More »
How to protect family RESPs from being raided
– moneysense.ca
Q. I am a grandparent providing funds for a family RESP. It is for twin grandsons—my son is the father. I have a bit of a concern their mother may decide to withdraw the funds I provided for her own purposes. Is there a mechanism whereby both parents have to sign off if the contributed funds were to be withdrawn and not used for the children’s education?
–Morley
A. Hi, Morley. Contributing to a RESP is a fantastic way to help both your grandsons and your son. Having just helped two children through university myself, I often suggest that you’re going to pay anyway, so why not start a RESP and collect some government grant money along the way?
Your concern about your grandchildren’s mother walking off with the money is, I hope, a very low risk, but one that I know is real. Fortunately, there are a couple of easy solutions that should put your mind at ease.
The key to the solution revolves around the subscriber. Is the subscriber of the family RESP:
–Morley
A. Hi, Morley. Contributing to a RESP is a fantastic way to help both your grandsons and your son. Having just helped two children through university myself, I often suggest that you’re going to pay anyway, so why not start a RESP and collect some government grant money along the way?
Your concern about your grandchildren’s mother walking off with the money is, I hope, a very low risk, but one that I know is real. Fortunately, there are a couple of easy solutions that should put your mind at ease.
The key to the solution revolves around the subscriber. Is the subscriber of the family RESP:
Your son and the boys’ mother;
Only your son; or
You?
Let’s do a quick review of the term “subscriber” and the implications of different subscriber relationships…
