Tax Shock Adds to Family Heartbreak

Last month the sad story of an Ontario family who suddenly lost both parents in 2024 was shared in Burlington Today.  The tax outcomes were just as shocking as the two deaths from unrelated causes.  There was a cottage, a large RRSP and a big tax bill.   Some of the outcomes could have been mitigated with some planning.   I sat down with CTV’s Pat Foran to discuss the outcomes – with a message important to family planning.  

Joe Roberts, also known as “The Skid Row CEO,” held the audience at Distinguished Advisor Conference (DAC) rapt with his moving personal story of addiction and recovery. Revealing the power of having difficult conversations with clients, Joe showed how trusted advisors can take their work to another level, especially in making financial plans for those who are vulnerable due to addiction.

Differentiate yourself as an MFA-Succession and Estate Planning Specialist in your community.  The first certificate course in the program, provides students with a solid understanding of the fundamentals of succession planning and how to become a more valuable resource to your clients in assisting them with their business succession planning needs.

Evelyn Jacks, president of Knowledge Bureau, welcomed close to 200 attendees at the 2015 Distinguished Advisor Conference (DAC) on a high note. Her opening session at the 12th annual conference in beautiful Puerto Vallarta, Mexico, was packed with information and opportunities for advisors to seize, particularly in light of the new Liberal government in Ottawa and the significant tax reforms their rise to power will usher in.

One of Canada’s foremost journalists and commentators on public policy shared his insights with attendees on the first day of the 2015 Distinguished Advisor Conference (DAC) in a thought-provoking session in Puerto Vallarta, Mexico. Jeffrey Simpson, national affairs columnist for The Globe and Mail, spoke in detail about the age of dis-intermediation and what that means for advisors.

Philip Petursson, Managing Director of Manulife Asset Management’s Portfolio Advisory Group, encouraged attendees at the 2015 Distinguished Advisor Conference (DAC) to think differently about portfolio management. He asserted that, in an attempt to serve clients and build value by customizing portfolios, advisors are following an approach that is actually inefficient and unproductive.

It’s hard to believe that back in 1980, Canadians’ debt to disposable income level was 66%; today it is 164%, which means that households today owe more than $1.64 for every dollar of disposable income. That’s a big problem if job loss is in the future and, therefore, should be a topic of conversation for those working in industries suffering downturns and in retirement planning conversations.