Articles

Recognize Your Value

Recognize Your Value

When Donnie died I was at the lowest point of my life and I didn’t value my future. I certainly couldn’t see any value I had to give as the children were grown and no longer needed me.

Many times in our lives we are forced to our knees by circumstances that come our way. We may feel as though we are worthless and insignificant in our own eyes but no matter what has happened or what will happen, we ...

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Preparing the Final Tax Return

Preparing the Final Tax Return

Courtesy of Janet Baccarani & Jennifer Black from DFS Private Wealth.

Preparing a Final Tax Return

In our ongoing series on Death and Taxes, we look at a few of the common questions associated with preparing a tax return for someone who’s died.

Who is responsible for filing the deceased’s final tax return?

The deceased’s legal representative is responsible for ensuring that the tax return is filed. The legal representative would be the Executor (as named in the will) or the Administrator ...

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Will you be my Estate Trustee?

Will you be my Estate Trustee?

What to do when someone asks you to be their Trustee.

Courtesy of David Mills from Mills & Mills LLP. And contributed by J. Paul Mills, Q.C.

If someone asks you if you are willing to be her or his Estate Trustee, Executor, Attorney for Property or guardian of children, you should not automatically say “Yes”. Acting in any one of these fiduciary capacities can be seen to be an honour but there are very serious responsibilities involved which should not be ...

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Hidden Costs of Buying or Selling

Hidden Costs of Buying or Selling

Written By Barry Lebow, President and Founder, Senior Housing Council, The Real Estate Academy Inc.

Do your research first.

It’s all gone like clock-work. You’ve been pre-approved for a mortgage, found the right home and know exactly what the future looks like. Or do you? Hidden costs could drive up the cost of a real estate transaction for both the buyer and the seller. The solution is to know what you’re getting into before you sign on the dotted line.

There is ...

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Can Trustees Avoid Liability?

Can Trustees Avoid Liability?

Can a Trustee Avoid Liability Even if Found to Have Made a Costly Mistake?

Courtesy of David Mills from Mills & Mills LLP..

Before agreeing to take on the role of Estate Trustee, the named individual should consider carefully the fact that it is a difficult, time consuming and often thankless job. For the uninitiated, the myriad responsibilities – from gathering information on assets and liabilities, to assembling tax information and completing tax returns, to managing relationships with and among beneficiaries (many ...

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Investing Lessons – Warren Buffett

Investing Lessons – Warren Buffett

Investing Lessons from Warren Buffett (arguably the world’s most successful investor)

Lessons on Investing from Warren Buffett

…on long term investing
“Over the long term, the stock market news will be good. In the 20th century, the United States endured two world wars and other traumatic and expensive military conflicts; the Depression; a dozen or so recessions and financial panics; oil shocks; a flu epidemic; and the resignation of a disgraced president. Yet the Dow rose from 66 to 11,497.”
Source: ...

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Life Is Forever Changed

Life Is Forever Changed

After the death of a loved one, life is forever changed. You are now a single in a couple’s world. As you’ve discovered grief is quite painful and you need your friends more than ever. Unfortunately, many couple friends are lost when you are no longer part of a couple.

There is nothing worse than having to leave a gathering of friends to go home alone to an empty house. Most of us have experienced this feeling because ...

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Single Ladies Buying Houses

Single Ladies Buying Houses

Courtesy of Kevin Saxon from Neighbourhood Dominion Lending.

It’s becoming increasingly apparent that a greater number of women are now taking the reins when it comes to home purchases. There’s a growing trend among single women – and, more precisely, professional single women – who are becoming independent homeowners. While many of them may be putting off marriage, they’re not waiting around for Mr Right before taking the plunge into homeownership.
It’s believed that around 20% of homebuyers in North America ...

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Picture Worth A Thousand Words

Picture Worth A Thousand Words

A picture is worth a thousand words. – As seen by a caregiver

Dedication: -This article is dedicated to the ‘Band of Brothers’ (like the war movie series) my three daughters and I who were in this battle together. We battled for 5 years to give the best care and support to my wife/ their mother. The outcome for each of us may have been very different without each other.

Recently, I was trying to understand why my energy and focus ...

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Minimizing Mortgage Costs

Minimizing Mortgage Costs

Courtesy of Alexandra Evans-Munoz from The Mortgage Centre.

The following strategies will help you to minimize the amount of interest you pay and the number of years you hold your mortgage.

Increase your payment amount

It may take some adjusting to work into your budget, but increasing your monthly payment amount can save you thousands of dollars in interest over the duration of your mortgage and reduce the life of your mortgage for several years. For example, suppose you have a 5- ...

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