We send a monthly newsletter to our clients and subscribers, covering current events and financial topics relevant to our clients. Some of our financial articles have been written by our advisors, and others are stories from the news media that we want to share. Topics may include; what makes a good advisor, how emotions affect markets, mass media manipulates readers to make changes in the market, buy high sell low – knee jerk reactions, living longer – financial realities and so on.
Sounds silly, doesn’t it? Well, today’s biggest estate planning issue is what we call the Beneficiary Lottery. This is the solution that many people default to by trying to avoid conflict or not dealing with estate issues. In a nutshell, when wills are made they are done per individual, not jointly. At any time, either party can change their will without informing the other. In addition to this, when one party has passed the surviving person can make any changes to their will, as they see fit.
For the fortunate investors who have maximized their tax deferred and tax free accounts, the next logical place to invest is in a non-registered account. Although the investment income earned is taxable annually, there are still tax benefits that can be derived from these accounts.
On April 27th, these comments were often overheard as we celebrated our biggest client appreciation event of the year, McClelland University! Annually, we honour our loyal clients by hosting them to a half day of entertainment, education and two flavourful meals. This year’s McClelland University was the first major event planned by our new Marketing Manager, Amber Mazurkiewicz. She did not disappoint. From the new design of the stage, to the additional buffet line, everyone’s experience was a great one.
Knowing that these things will eventually happen, it only makes sense to plan for them. A common misconception is that financial planners can only help with one, taxes. However, there are many things that can be done to help plan for a “successful” death.
For those of you who know me, know that I love the study of economics, not economists, but the science behind how the world works, financially. This being the case, I get many questions about cryptocurrency, Bitcoin and Blockchain.