Category Archives: Personal Finance

Wills

                          The Basics of Wills Having a will is an important step for anyone. However, it’s important to clear up some of the misconceptions about these documents, the types of powers one actually has under them and how they can be used to ensure that,

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    Collateral Assignment

                            When a borrower borrows some money from the lender, he/she requires collateral to provide security in case he cannot pay the interest payments or he fails to pay back the loaned amount. In this case the collateral can be repossessed by the lender. Collateral

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      Estate Planning with Life Insurance

                              Life insurance is important for several reasons, not only does it provide people with a sizeable amount of financial security, but it also functions as a safety cushion for the surviving members. Life insurance can help cover immediate and lump sum debts after the

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        Estate Bond

                                                      Give more to your family and less to the government. Like many Canadians, your financial plan may include an element of savings that you never plan to spend.  You have conservatively invested some

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          What to do After a Job Loss?

            Sudden unemployment is a harsh scenario people have to deal with along with economic changes, a change in technology or simply the closure or downsizing of a business. Unemployment imposes a financial, social and psychological cost on you because no one is be prepared to deal with a sudden termination of income and it would

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            Investment Income

                              Usually our concept of income is derived from labor which leads to a fixed or variable wage for a certain time duration. Another type of income is investment income which results from investing in various financial assets. Investment income can take the form of dividends, interest payments,

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              10 Tax Return Filing Tips

                Since more than 25 million Canadians file their personal income tax return every year, it is the taxpayer’s responsibility to ensure tax deductions, credits, and elections are properly identified to make the appropriate claims. Here are 10 tax return filing tips that can help you incorporate essential information in order to access targeted benefits. 1.

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                CRS Financial Group’s Summary of Federal Budget 2014

                  On February 11, 2014, the federal government announced its annual budget. Several changes are proposed, with the most relevant changes to the financial services industry listed below. Taxation of Trusts and Estates. The government has proposed a potential elimination of graduated tax rates for testamentary trusts created by wills, estates, and inter vivos trusts. A

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                  RRSP Deposit vs Mortgage Repayment

                    Determining whether to contribute to an RRSP or pay down a mortgage has always been a great debate, for each have their advantages. To begin with, an RRSP contribution is tax-deductible, and it can generate a tax refund for you or it can reduce your income tax liability. In addition, an RRSP will continue to

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