815 AM CST

LOG INTO ZOOM - WELCOME AND INTRODUCTORY COMMENTS

8:30 TO 9:45 AM

FEDERAL BUDGET AND TAXES ON YOUR ASSETS

The March 28, 2023 federal budget will explain unprecedented permanent spending to come and how that’s going to translate into tax consequences for Canadians in this tax year and beyond. Learn all the details and how to advise your clients to plan for their wealth sustainability, in particular when planning for asset acquisitions and transfers: from jewelry to valuable art, real estate and business assets. We’ll also cover the traps in the new Unused Housing Tax, especially for spouses who own real estate. Also take a refresher on tips and traps on filing proprietorship returns prior to the June 15 deadline.

EVELYN JACKS
President, Knowledge Bureau
MFA™, MFA-P™, RWM™,
DFA-Tax Services Specialist™

9:45 - 9:55 AM

COMMUNICATIONS BREAK

9:55 - 10:35 AM

RETIREMENT PLANNING: PROTECTING EQUITY AGAINST INFLATION, STAGFLATION & RECESSION

If your client is retired, and they withdrew an additional 5%-6% from their RRIF, then their capital would be down by -16% to -17% over the past year, plus an additional 7.2% to account for purchasing power (=-23% to -24% total negative real return). Worse yet, their RRIF payment in 2023 is now -16% to -17% lower than it was in 2022. In this impactful session, learn how to do the inflation math and identify viable strategies to build and protect both income and wealth against inflation, stagflation and recession.

DOUG NELSON
CFP, CLU, CIM, MFA, RWM™

10:35 - 10:45 AM

COMMUNICATIONS BREAK

10:45 – 11:15 AM

ESTATE PLANNING: HOW HIGHER INFLATION IMPACTS FUTURE ESTATE VALUES

How might your clients’ estate plan change in the coming years if we are to have a period of higher interest rates, and higher inflation, for longer? For investors with higher amounts of excess capital, they could invest in higher income securities for longer periods of time, which may result in much higher future estate values. For those with less excess capital, they run the risk of running out of money prematurely and could have much less in their estate than previously planned. How might this affect their plans for the children, grandchildren or for children with a disability? In this informative session find out why it will be important to revisit your client’s estate plans in the coming years.

DOUG NELSON
CFP, CLU, CIM, MFA, RWM™

11:15-11:20 AM

COMMUNICATIONS BREAK

11:20– 12:00 PM

USE OF TRUSTS IN ESTATE PLANNING

All advisors now need to have foundational knowledge on the use of trusts in tax and estate planning. That’s because tax filing with regard to certain trusts will change as of December 31, 2023. In addition, the new UHT requires trustees of a trust to file for these purposes starting in 2023. Be more impactful in your role, especially for high net worth clients looking for tax and estate planning.

Receive a comprehensive refresher on the types of trusts that can be utilized to protect singles, the disabled, spouses, children – minor and adult – and charitable opportunities for bequests to the community, as well as the family cottage. Understand when trusts are appropriate and receive a comprehensive refresher on the types of trusts that can be utilized to protect singles, the disabled, spouses, children – minor and adult – and charitable opportunities for bequests to the community.

PHILIPPE RICHER, LLB

12:00 -12:30 PM

LUNCH BREAK

12:30 -1:30 PM

WILLS, POWERS OF ATTORNEY, HEALTH CARE DIRECTIVES

Managing the process around life events (before, during and after) with a multi-stakeholder team requires three important legal documents which must be anticipated and drafted in relation to a holistic retirement, disability and estate plan. Learn how to advise your clients to think about these difficult topics in a more positive light – the stewardship that results from sound planning before catastrophic events – and bring peace of mind to family members who otherwise worry about how to avoid abusive or unintended circumstances.

PHILIPPE RICHER, LLB

1:30 – 1:35 PM

COMMUNICATION BREAK

1:35 – 2:35 PM

ADVANCED SERIOUS ILLNESS PLANNING

When people get seriously ill, only 1 in 3 patients get the medical care that is right for them. Families are ill-prepared to make the life and death decisions they are called upon to make on the patient’s behalf and consequently, suffer significant anxiety and stress. Moreover, if the person survives their serious illness but is left vulnerable and incapacitated, many families struggle to provide the best medical and personal care possible and end up quarrelling about how to use the patient’s resources.

The current ways of planning ahead for future illness are not working. Advanced serious illness planning requires a three-legged stool that has a medical, financial, and legal dimension. If any of these dimensions or ‘legs’ is not done properly, the stool doesn’t function, and the person (and their family) is inadequately prepared for their future. Consequently, they are less likely to get the medical and personal care they desire, are more likely to experience misuse or abuse of their financial resources and are adding a burden and stress to their family in the future who must pick up the pieces. All this suffering can be prevented by ‘better upstream’ personal planning.

Participants will be exposed to the research and clinical observations that have lead to the development of Plan Well Guides (the ‘why’), and a high-level overview of the content (the ‘what’) of Advance Serious Illness Planning.

Dr. Daren Heyland MD, MSC, FRCPC is a critical care doctor at Kingston General Hospital and a Professor of Medicine and Epidemiology at Queen’s University who has witnessed the heartbreak of uncertainty from representatives who can only hope they made the right decisions entrusted to them by their dearly loved ones at end of life.

2:35 – 2:40 PM

COMMUNICATION BREAK

2:40 – 3:30 PM

FUTURE PLANNING: EXPLORING, EQUIPPING, AND ENTRUSTING

Advanced serious illness planning requires a three-legged stool that has a medical, financial, and legal dimension. If any of these dimensions or ‘legs’ is not done properly, the stool doesn’t function, and the person (and their family) is inadequately prepared for their future. Consequently, they are less likely to get the medical and personal care they desire, are more likely to experience misuse or abuse of their financial resources and are adding a burden and stress to their family in the future who must pick up the pieces. All this suffering can be prevented by ‘better upstream’ personal planning.

In this second half of Dr. Heyland’s session you’ll learn how to help shift your clients thinking into more future-oriented planning by Exploring, Equipping, and Entrusting. After the course, participants will be given access to the 3 guides related to ASIP and be invited to partner to bring these Guides to their clients.

3:30-3:35 PM

COMMUNICATION BREAK

3:35 – 4:05 PM

EMOTIONALLY CHARGED ASSET TRANSFERS

Armed with the powerful new knowledge and skills acquired in this CE Summit, our panel will discuss true-to-life issues and answers to arm you with perspective! We’ll take a close look at the quagmire involved in the most emotionally charged asset disposition – the passing of the family cottage from one generation to the next.

THE SOCIETY OF RWM™ ROUND TABLE

4:05 – 4:15 PM

CLOSING REMARKS