This Virtual CE Summit is ideal for training staff working in independent tax filing firms, CPAs in public practice, financial services firms, public trustees, legal assistants, municipal officers, payroll and software companies who employ staff involved with Retirement and Estate Planning.
Learn the most important information that you need to help your clients make informed decisions all from the comfort of your office without the hassles of travel.
PART 1: THE CE SUMMIT ACCREDITED ONLINE COURSE – Completion of this online course provides the successful graduate with 20 CE/CPD hours towards meeting CE requirements for Knowledge Bureau designations and qualifies for a full course credit in the Knowledge Bureau Designation Programs. Some third-party accreditors and professional organizations may also confer CE hours. All virtual resources including online course, Evergreen Explanatory Notes, Knowledge Bureau Discovery Calculators, Instructor Presentations and Recordings available for 3 months.
PART 2: YOUR COMPREHENSIVE LINE-BY-LINE DESKTOP REFERENCE. This online course may be supplemented with a comprehensive Desktop Reference, in hard copy, for an extra charge of $195 plus taxes and will be sent under separate cover. A hard copy Desktop Reference Journal is included for in-person attendees.
PART 3: YOUR VIRTUAL CE SUMMIT – This Live/Virtual Event, featuring Special Guest Instructors with noted expertise in the Canadian tax industry. Please see their short biographies attached. The successful graduate is credited with 10 CE/CPD hours. Complete online course for 20 more CE Credits and a full course credit towards the DMA™ designation program.
All students will be able to download and listen to their instructors’ comprehensive PowerPoint presentations and participate in quizzes. Those who missed the live/virtual events or wish to enrol in the Comprehensive CE Summit Online Certificate Course or order the Desk Top Copy of the Online Course may do so at any time: call 1-866-953-4769.
Earn CE/CPD credits from Knowledge Bureau and other self-regulatory associations and organizations, pending approval from these regulators
This CE Summit qualifies for Knowledge Bureau designate re-licensing requirements (deadline: June 30 each year).
(Come back often as new details are released)
LOG INTO ZOOM - WELCOME AND INTRODUCTORY COMMENTS
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.
President, Knowledge Bureau
MFA™, MFA-P™, RWM™,
DFA-Tax Services Specialist™
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.
CFP, CLU, CIM, MFA, RWM™
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.
CFP, CLU, CIM, MFA, RWM™
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
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
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.
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.
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
This is and has always been a great event with very knowledgeable people giving us their experience and covering off Q&A - although there has been a lot of information covered in a short period of time!
- James Allen