Tag: #estateplanning
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Essential Guide to Cottage Succession Planning
Cottage succession planning is one of the most emotionally charged and difficult aspects of an estate plan. Unlike a stock portfolio, cottages are touched by emotions, memories, and can’t be easily divided in the same way between your heirs. Therefore, cottage owners face unique estate planning challenges. So, this post will describe the key elements…
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Financial Contingency Plan: A Guide for Wealthy Families
The financial consequences for wealthy families without financial contingency plans are high, as uncertainties are a certainty. Since, the peace of mind that comes with having a substantial investment portfolio can be easily disrupted by unexpected events. Changing circumstances, legal entanglements, unforeseen personal tragedies, or even shifts in tax regulations can pose significant threats to…
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Estate Planning Basics: Working with a Family Office
Markdale Financial Management is our family office dedicated to managing the financial affairs of wealthy investors. One of our key roles of our family office is to coordinate the work of investment and insurance, legal, and accounting professionals when it comes to estate planning. In this blog post, we’ll explore how our family office serves…
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Estate Planning Tips to Avoid Spoiling Your Children
As a wealthy investor, the question of how much money to leave your children without spoiling them is likely one that weighs heavily on your mind. While some might consider this a nice problem to have, it’s still a problem that needs to be addressed thoughtfully and carefully. This blog post explores some tips for…
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Your Family Foundation Must have a Succession Plan
Having plans for the succession of your family foundation in place before they’re needed is critical if you want to avoid legal disputes, conflict between family members, and ending the good works your foundation supports. In this blog post, we’ll explore the importance of creating a succession plan and the key benefits to consider. Strengthening…
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Documenting Your Spousal Relationship
You’ve fallen in love and choose to live with your partner (without documentation). That was in your 20s. Since then, your investment portfolio has grown significantly. What should you do? Or, maybe you have school aged children. What might happen to them if you die? Or, you’re a retired senior and you’ve lost your spouse…
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Am I exposed to US estate taxes?
Canadians might be surprised to learn they may be exposed to US estate taxes. This post describes the risks to Canadian investors and how they might protect themselves. US Estate Taxes When Canadians die owning US situated assets worth more than $60,000 USD, they are required to file a US estate return. Then, if your…
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Updating your Will & Estate Plans
Everyone should have an up to date will & estate plan. If your estate is simple, its easy to write a basic holograph will or consult with a neighbourhood lawyer. But when you’re wealthy its important to ensure your estate plan considers a complex set of tax rules and supports generational wealth transfer. This post…