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5 Ways to Be Smart When the Markets Go Down

We all wish the stock market would move only one way….up.  Unfortunately, history has shown us that every bull market is followed by an equally aggressive bear market.  Sometimes the market falls hard and fast, but that doesn’t have to mean catastrophe.  Being smart when times are tough can be just as lucrative as being smart when the going is good.  After all, the smartest investors don’t fear a downturn, they take advantage of it by making sure they are in a good place when it corrects itself.
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Term vs Permanent Insurance

When it comes to life insurance, there are many options available – so many, in fact, that it can be an intimidating process to undertake. Many people are unsure about which option is best in terms of cost, coverage and meeting their goals. That said, insurance can be quickly and easily simplified by dividing it into two broad categories: permanent and term. Each of these insurance categories has multiple variations.

The video below is intended to provide clarity and relieve some of the anxiety associated with choosing the most appropriate insurance option for your situation. If you have questions about insurance options and what would best suit your needs and goals, please contact us – we’d be pleased to answer your questions!
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How Investment Income Is Taxed

Investments can represent a major source of income for some individuals and with that income comes a wide variety of tax implications. The good news is that some types of investment incomes are subject to special tax treatment.  Understanding how your investments are taxed is an important part of your financial plan.  The most common types of investment income most investors will have to deal with are interest, dividends, and capital gains.
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What Happens If You Die Without a Will?

Most of us know that having a will is important, but statistics show that what we know about wills and the action we take with wills are very different. According to a survey conducted by CIBC in 2013, more than half of Canadians die without a will.  If you die without a will in Canada it is referred to as dying in intestacy. When you die intestate, it is up to government legislation to handle your affairs. Below are some points that should be seriously considered before deciding against a will and how you could expect the estate will be distributed according to the current rules of intestacy.
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Using Corporate Owned Life Insurance to Reduce Passive Income Taxation

Effective January 2019, new tax rules will come into effect that will have a dramatic impact on some small business owners. Starting in 2019, the Small Business Deduction Limit will be reduced by $5 for each $1 of passive income that exceeds $50,000 and will reach zero once $150,000 of passive income is earned in a year. This new tax rule may be leaving business owners wondering how they can redirect a portion of excess cash flow that would traditionally produce passive income, and subsequently some unfavorable tax consequences.

Corporate owned life insurance can offer a “two bird one stone” solution to business owners. If used appropriately, strategies such as these are a viable option for a private corporation with a substantial amount of excess income and a life insurance need. The information below provides an elementary overview of how life insurance can be used to defer tax and grow the corporation’s estate.
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Individual vs. Mortgage Insurance

Whether you’re a first-time home buyer, or purchasing a vacation property, if you have a mortgage your lender will encourage you to purchase mortgage insurance.

Like every other life insurance policy, a death benefit will be paid if the insured person dies. Mortgage insurance is usually not the most cost effective and flexible way to protect your assets and family. In almost every case there are less expensive policies than those offered by lenders.  The video below explains the difference:
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Using Joint-Last-to-Die Insurance to Protect Your Estate

Joint-Last-to-Die (JLTD) insurance is designed to protect the assets for the beneficiaries of an estate. A JLTD policy is issued on the lives of two people; typically spouses. The policy continues after the death of one spouse, and the benefit is paid on the death of the surviving spouse.

This type of insurance is an effective estate planning tool that provides protection for your estate as well as keeping premium costs lower than traditional insurance approaches.
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Estate Planning Checklist

Benjamin Franklin once claimed there are two things in life that are inevitable: death and taxes. In the case of those people who die without a will and proper estate planning, the adage can easily be altered to: death and more taxes.

The wise Benjamin Franklin also once said, “By failing to prepare, you are preparing to fail.” So consider looking at the few simple steps below to ensure that you are ready for the inevitable.
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Disclaimer

This information is designed to educate and inform you of financial strategies and products currently available. As each individual’s circumstances differ, it is important to review the suitability of these concepts for your particular needs with a Qualified Financial Advisor.