Hard to believe, but this is item 52 in our Orientation Series. We have talked about financial topics: • Saving, Investing and Budgeting o cash flow o account types, investment types • Income Tax o why and how o how to reduce your income tax bill • Borrowing o debt, credit cards, mortgage and line …
The last thing anyone wants is to find out that their credit card or bank account has been drained, or a mortgage has been placed on your home by someone other than you. But these terrible things happen, and they could happen to you. Protect yourself from fraud and identify theft by following good financial …
Protecting Yourself from Fraud and Identity Theft Read More »
So, you have been named the executor of an estate. Maybe you were expecting this, or maybe it came as a surprise. What to do? The first thing is to understand what an executor (also called estate trustee or estate administrator) is: “An estate trustee is the only person with the legal authority to manage …
When someone passes away, they have bills that need to be paid, income tax returns that need to be filed, and numerous other expenses. It is the responsibility of the estate trustee to search out all the debts of the deceased, close the accounts and pay the balances out of the assets of the deceased …
If you have by now decided that you need to make a will, one of the very first decisions is to choose an estate trustee (also known as the executor or administrator). You can name one person, or multiple people to act individually or jointly. The right decision is based on the individual circumstances of …
When someone dies without having made a will they are said to be “Intestate”. There are rules called intestacy rules which dictate the distribution of the estate in these circumstances. Dependents and spouses have rights to the estate of the deceased. In this case married and common law spouses do not have the same right. …
In the last article, we introduced some of the terms common in estate planning, namely What is a Will? An estate? An Executor? Probate? A beneficiary? The next important question is: Do I need a Will? Maybe yes, maybe no. A Will establishes what you want to happen to your “stuff” when you pass away. …
The sad reality is that sooner or later everyone dies. And no matter how organized you are, after your passing, someone else has to step in and take care of your responsibilities. So how do you let the world know who should take care of your affairs, and what they should do? Make a will. …
Life insurance is something we all consider at one point in our lives, but what about insurance for our children? Not everyone needs insurance, but if you think your child might need or want it later in life, the time to consider getting it is right now. Many childhood illnesses, such as diabetes, cancer, cystic …
Most people plan their retirement finances assuming a long, healthy, active life, lived in their home of choice. But what happens if nature doesn’t cooperate and at some stage you need extra help and support to get out of bed, get dressed, eat a meal, bathe, or any one of the many basic daily activities …
