If you die without leaving a will, it could become a major headache for your family members and loved ones. With no will, the government will decide on who gets your money and assets, and every province and territory have their own distinct intestate rules regarding who will benefit from your estate.
Succession planning requires identifying and developing potential leaders within your organization who can step into critical roles when current leaders leave, retire, or otherwise can't perform their duties. Here are some reasons why it's vital.
On Tuesday March 28, 2023, Deputy Prime Minister and Minister of Finance Chrystia Freeland presented the 2023 federal budget, which contains several measures of interest to IG Wealth Management and its clients.
If you are heading toward retirement with a well-balanced portfolio of assets and/or guaranteed income sources such as an employer pension, you may already have enough anticipated resources to create a life-long income stream.
It has been a challenging start to the year, to say the least. The S&P 500 Index suffered its worst start to the year through April since 1939. As of market close Thursday May 5, the S&P 500 Index had fallen 13.5% from its high reached on January 3. The S&P/TSX Composite Index has fared better, with a drop of...
It has been a rough start to the year for investors – Monday’s market action included. On an intraday basis (i.e., within the day), the S&P/TSX Composite Index had fallen just over 8% (at time of writing) from its November high. The S&P 500 Index entered official correction territory (a drop of more than 10% from its high), down more...
Separating from a spouse or common-law partner can be an emotionally difficult and complicated experience. Relationship breakdown is also one of the most significant, and often unexpected, financial planning risks a person can face. That’s why it’s critical that you understand how a separation or divorce may affect your financial well-being and succession plan.
When most of us think of year-end tax planning, we typically consider our personal situation. Yet, there are many tax-opportunities for business owners to explore as we near the end of another calendar year. The following tips assume your business is unincorporated or your corporation has a December 31st year-end, although some tips may also apply to corporations with an off-calendar year-end.
To take full advantage of the tax-deferred growth available when investing in a tax-free savings account (TFSA), many Canadians strive to maximize their TFSA contributions as early in the year as possible. However, while the goal with a TFSA should be to contribute as much as you can within the limits of your available contribution room, you also need to be mindful not to over-contribute. Putting more money in a calendar year than you’re allowed by law could result in penalties. The severity of which will depend on the circumstances of the over-contribution.
With the end of the year fast approaching, Canadian taxpayers will want to consider all the tax planning opportunities available to them. Which year-end planning strategies apply to you will depend upon your specific circumstances and objectives. The IG Wealth Management Year-end Tax Planning Checklist can help you understand what opportunities are most suited to you.
With the physical distancing measures in place due to the spread of the COVID-19 virus, many Canadians are now working from home. If working from home is new for you, you may be wondering whether there are any tax deductions you can claim. As well as which expenses would be eligible and what documentation would be required.
With the odds so overwhelmingly in favour of gains, why do so many investors fight those odds trying to time the market? Market pullbacks are frequent and avoiding just a few of them could potentially add significantly to investment results. This white paper discusses 6 key considerations for long-term investing.