Everything you need to know about trusts – conversation with a tax professional


-What is a trust?
-How is a trust established?
-Can you give me some examples of trusts
-How is a trust taxed?
-How similar is it to a corporation?
-What is a family trust?
-Why would you use a family trust?
-How do you set up a family trust?
-How is it taxed?
-What are the disadvantages of a family trust?

About George E. Craven, B.A.(Hons) LL.B. M.Tax.

George has been practicing as a sole tax practitioner in Calgary (Monarch Tax Law) since 2007. His practice focuses on small business corporations including corporate reorganizations, corporate succession planning, tax efficient structuring and inter-vivos family trust planning.
George got his Master of Taxation degree in 2001 and worked at McCarthy Tétrault LLP till 2007
In 2014 George worked as an Adjunct Professor at University of Calgary and University of Lethbridge

George is married and has 6 children, five boys and a girl

George’s interests are steam locomotives, playing the Tuba and watching English soccer with a passion only English people can understand!

George’s site is www.monarchtaxlaw.com and his phone number is (403) 265-7066

Estate planning and asset protection with an estate lawyer


-Why do people add their (adult) kids to their homes and bank accounts?
-Why are cabins such a problem in estates?
-My spouse gets everything when I die, right?
-What happens with assets with the second marriage?
-What do business owners need to consider?

 

Lynne Butler, BA LLB TEP

-Work
Lynne was first called to the Alberta Bar in 1986. She moved home to Newfoundland and Labrador in 2012 and was called to the bar here. Lynne have always worked in wills, probate, trusts, powers of attorney, estate litigation, and elder law.

-Activities
Lynne is the chairperson of the Wills and Estates section of the Newfoundland Bar Admission Course. I am a Course Facilitator (online teacher) for the Legal Writing, Legal Research and Legal Drafting sections of the Alberta Bar Admission Course.
She is the editor of MC², the national magazine of Mensa Canada.
She is the former host of “The Law Show”, a weekly radio program on VOCM Radio.
Lynne has been interviewed about estate-related matters by CPAC, BNN, CityTV, Global TV, CBC Radio, VOCM Radio, the Wall Street Journal, the Globe and Mail, the Edmonton Journal, the Vancouver Province, the Toronto Star, the Montreal Gazette, Maclean’s Magazine, Today’s Parent Magazine, Succession Planning Magazine, Canadian Lawyer Magazine, Cottage Magazine, Advisor’s Edge Magazine, Momstown Magazine, Caregiver Solutions Magazine, and numerous websites.
-Writing
Lynne is the author of 9 books about estate planning, with the 10th being published in the fall of 2018, and one book about legal history.

-Contact Lynne Butler
709-221-5511
www.butlerwillsandestates.com

What is Findependence? An interview with a financial columnist, blogger and author


What is Findependence and how did the term originate?
What’s the difference between Findependence and Retirement?
How about the difference between Findependence and Victory Lap
Retirement? How did that book come about?
What does Canada’s two-tiered retirement system mean?
How to pensionize a nest egg?
What is the role of annuities?
How to enhance retirement income, delay CPP or OAS?
What are the 4 stages of Retirement?

 

Jonathan Chevreau is a veteran financial columnist, blogger and author based in Toronto.

In 2014, he launched the Financial Independence Hub, aka FindependenceHub.com, which covers the topic from a North American perspective. It is aimed at both baby boomers and their children, the millennials.  The site has now published more than 1,000 blogs.

He published the financial novel Findependence Day in Canada (Power Publishers, 2008) and a US edition of Findependence Day in the United States (Trafford, 2013, also on Kindle).

Both books make a distinction between traditional “full-stop” retirement and the more useful term, Financial Independence, which the books contract to simply Findependence. In 2014, he also published two concise e-books (also in US and Canadian editions) that summarize the plot and the major financial lessons learned by the characters:  A Novel Approach to Financial Independence (Amazon.com).

Jon has also authored several books with traditional book publishers, including The Wealthy Boomer and several editions of Smart Funds, all published by Key Porter Books.

His latest book, co-authored with Mike Drak, is Victory Lap Retirement, was published this fall, and is available at Chapters Indigo and major independent book stores, or online at http://www.victorylapretirement.com/

He has a large Twitter following at @jonchevreau and uses most other major social media platforms.

Should I incorporate? A conversation with a lawyer

-Who should incorporate?
-What the advantages and disadvantages of incorporating the business
-What is the difference between a corporation and a sole proprietor
-Who should open GST account?
-What is a trade name?
-If you sell online should you open a provincial or federal corporation?
-Should you open a corporation with a lawyer or in the nearest Registry office?

Corrine M. Fiesel has been a practicing lawyer since 2000 and provides services  related to Estate, business and real estate. Corrine is the owner of Legal One Securities & Corporate Law (www.legalone.ca).
She can be reached at (403) 613-5573

Philosophy of retirement, what and how to achieve when you retire

This podcast is not about money

-Uncover the potential when you retire
-What is Philosophy of Retirement?
-What is Retirement Life Plan?
-How is the Retirement Life Plan related to a client’s financial plan?

During Gary’s 26 years in the financial services industry, Gary provided financial advice to thousands of clients. He came to recognize that many of these clients were in need not only of financial advice but non-financial advice as well.

Gary W. Poier, CFP
Email Gary at gary [AT] aspirepersonalachievement.com or call (403) 835-0615

Employment law and contracts for self employed people

-Who should need an employment contract?
-What is the difference between a contractor and an employee?
-How much does a contract cost?
-What happens if there is a dispute?
-How much does a contract cost?
-Should employees seek legal advice regarding their contracts?
-Should you draft a contract yourself?
-How to find the right lawyer?
-What happens if you work for a company located overseas?
-Advice

Murray Harris is a lawyer in Calgary.  He represents individuals and corporations in commercial and personal legal matters throughout Western   Canada; for a time he was also an Attorney in the Cayman Islands.

Murray primarily focuses on employment, commercial and injury claims.  Murray‘s historical experience is vast.  Some of the more notable retainers include acting on a team of lawyers defending the auditors of the Bernard Madoff funds, as well as defending the directors of the defunct SPHinX Group of Hedge Funds.  Murray also acts for select insurers and Lloyd’s syndicates in property and professional liability matters.

Email Murray at harris [AT] resolutelawgroup.ca or call (403) 992-2067

Car and home insurance, tips and advice

-Benefits of using an insurance broker
-Will price of insurance change from one broker to another?
-What does affect the price of insurance?
-What endorsement should you have on your policy?
-What should you pay your attention to when you buy an auto insurance?
-Should you notify your insurance company when you use your car for your business?
-If the claim happens is the broker involved?
-Should you have your home and car insurance with the same insurance company?
-What does home insurance cover?
-Advice and recommendations

Barry Haggis, BA joined Young & Haggis team in May of 2011 as a licensed broker.

Email Barry at barryhaggis [AT] young-haggis.com or call 403-212-5110

What is Registered Disability Savings Plan (RDSP)? Who should have one?

-What is RDSP?
-What is Disability tax credit? Who can qualify? Who would get tax credit if the parents are divorced?
-How much money can a person contribute to RDSP?
-What is the difference between bonds and grants and how much are they?
-What bank can I open an RDSP with? What are the investment options?
-Who will be the owner of RDSP if the owner passes away?
-Can both parents be the owners of RDSP? Can the ownership be transferred to the child after s/he is an adult?
-How to use an RDSP?
-How much does it cost to open and maintain an RDSP?
-How to withdraw money from RDSP?

Steven Williams has 20 years experience in financial services, bookkeeping and accounting. Steven specializes in presenting and opening the Registered Disability Savings Plan (RDSP).
With a blended family that includes eight children, Steven proudly displays an entrepreneurial attitude evident in many Alberta business owners. True to his community roots, Steven volunteered for over 6 years on the McKenzie Towne Resident’s Association Board. Steven is also a dedicated plasma donor for Canadian Blood Services.

Email Steven at steven [AT] rdsplan.ca

Mutual Funds vs Segregated Funds vs ETFs, advantages and disadvantages of both

Topics discussed

-What are ETFs, mutual funds and segregated funds?
-What are the advantages and disadvantages to invest in them?
-What are the costs associated with each investment?
-Why does the media like ETFs?
-What are the tax implications of owning each of those investments in registered and non registered accounts?
-Who should or should not buy ETFs, mutual funds, segregated funds?

An interview with Richard Knowles – Sr. Associate and Independent Financial Advisor and Planner, Customplan Financial Advisors Inc.

About Richard Knowles:
As a multi-licensed and certified Financial Professional in Wealth and Risk Management and Financial Planning since 1994, Richard has been successfully shaping the financial well-being of individuals, incorporated professionals and executives and companies by successfully utilizing the most advanced areas of tax engineering, wealth creation, debt reduction and estate planning possible in the world today.