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Category: Estate Planning

Estate Planning for Blended Families

December 1, 2022Blog, Estate Planning, FamilyAbility Private Wealth

Blended families – where two people get married but have children from previous relationships – are becoming more common. On top of the day-to-day challenges of blending a family, new spouses also have to figure out how to plan their estates, so everyone is properly taken care of.

We cover all of the following a blended family must consider while estate planning:
• Sharing the Family Home
• Make the Most of a Registered Retirement Savings Plan
• How to Share Non-Registered Investments and Other Assets
• Why It’s Important to Select a Good Trustee
• The Advantages of Life Insurance for Blended Family Planning

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Estate Planning for Business Owners

April 1, 2022Blog, Business Owners, Estate Planning, Family, Life Insurancebusiness owners, estate planning, life insuranceAbility Private Wealth

What happens when the children grow up and they are no longer dependent on their parents? What happens to your other “baby”- the business? Estate planning for business owners deals with the personal and business assets.

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Estate Freeze

June 1, 2021Blog, Estate Planning, TaxAbility Private Wealth

An estate freeze can be an integral part of your estate planning strategy. The purpose of an estate freeze is to transfer any future increase in your business’s value (generally shares) that you own to someone else.

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Business Owners: 2020 Tax Planning Tips for the End of the Year

December 11, 20202020 Only, Blog, Business Owners, Coronavirus, Coronavirus - Practice Owners, corporate, Estate Planning, financial advice, Financial Planning, incorporated professionals, Investment, Professional CorporationsAbility Private Wealth

It’s a great time to review your business finances now that we are nearing year-end. We have listed some of the critical areas to consider and provide you with some helpful guidelines to make sure that you cover all the essentials. We have divided our tax planning tips into four sections:

– Year-end tax checklist
– Remuneration
– Business tax
– Estate

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10 Essential Decisions for Business Owners

July 3, 2020Blog, Business Owners, Estate Planningbusiness ownersAbility Private Wealth

Business owners can be busy… they’re busy running a successful business, wearing lots of hats and making a ton of decisions. We’ve put together a list of 10 essential decisions for every business owner to consider.

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2019 Tax Tips for Employees

November 22, 20192019 Only, Blog, Estate Planning, Family, Individuals, Investment, Retirees, RRSP, Tax, Tax Free Savings AccountAbility Private Wealth

Now that we are nearing year end, it’s a good time to review your finances. With the federal election over and no major tax personal tax changes for this year, 2019 is a good year to make sure you are effectively tax planning.

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2019 Ontario Budget

April 12, 20192019 Only, Blog, Estate Planning, Family2019, OntarioAbility Private Wealth

The 2019 Ontario budget highlights include CARE tax credit, Estate administration tax and reviews about current tax measures.

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Financial Advice

April 2, 2019Blog, Estate Planning, Family, Individuals, RetireesAbility Private Wealth

An advisor can help you determine where you are today financially and where you want to go. An advisor can provide you guidance on how to reach your short, medium and long term financial goals.

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Getting the best from a financial advisor

June 1, 2018Blog, Business Owners, Charitable Gifting, corporate, disability, Estate Planning, Family, Group Benefits, health benefits, Individuals, Investment, Life Insurance, Long Term Care, pension plan, Retirees, RRSP, Tax, Tax Free Savings Account, Travel InsuranceAbility Private Wealth

Working with a professional to help you to make sense of your finances can be a wise move, but for this relationship to work effectively it is important that you understand what to expect from your financial advisor.

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How to Make the Best of Inheritance Planning

May 1, 2018Blog, Charitable Gifting, Estate Planning, Family, InvestmentAbility Private Wealth

Inheriting an unexpected, or even an anticipated, lump sum can fill you with mixed emotions – if your emotional attachment to the individual who has passed away was strong then you are likely to be grieving and the thought of how to handle your new-found wealth can be overwhelming and confusing but also exciting. One of the best pieces of advice in this situation is to give yourself some time before making any binding financial decisions. The temptation to quickly put the money to so-called ‘good use’ or to rush out and spend it can be strong but you must allow the news to sink in and also take some time to consider your options before you embark on the process of dealing with the inheritance. In the short term, put the money away in a high interest savings account and take time to research and think carefully about your financial goals and objectives and how this inheritance can help you to secure and maximize your financial future in the best way.

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Recent Posts

  • Essential tips and tricks for paying less tax and keeping more of your retirement income
  • The Six Steps to Financial Planning
  • Tax Tips You Need To Know Before Filing Your 2022 Taxes
  • How To Use Insurance To Provide Your Family With Financial Protection
  • Government proposes including siblings in definition of ‘qualifying family member’ for RDSPs

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Contact Us

Derrick Lee-Shanok

derrick@abilitypcg.com

margareth@abilitypcg.com

416-875-1836

1-877-940-7377

416-860-7550

1500 Don Mills Rd. Suite 400 Toronto, ON M3B 3K4



Recent Articles

  • Essential tips and tricks for paying less tax and keeping more of your retirement income
  • The Six Steps to Financial Planning
  • Tax Tips You Need To Know Before Filing Your 2022 Taxes
  • How To Use Insurance To Provide Your Family With Financial Protection
  • Government proposes including siblings in definition of ‘qualifying family member’ for RDSPs

About

We believe in empowering our clients to participate in the creation and maintenance of their overall financial well being through proper education and ensuring an understanding of the possible outcomes involved in each decision.

Mutual funds, approved exempt market products and/or exchange traded funds are offered through Investia Financial Services Inc.

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Insurance products are offered through PPI Management Inc., a national licensed insurance marketing organization that support independent advisors with their business, and through multiple insurance companies.

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