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This newsletter is courtesy of Terry Fay and RetirementByDesign.ca. Please remember that while strategies outlined within this newsletter may be appropriate for some investors, you should always consult a financial advisor to determine if they are appropriate for you.
Sincerely,
Terry
Hello:
MOVING
OFFICES
ON JULY 1, 2005
It’s summer! This is the time to slow down and enjoy the great outdoors with family and friends. Hope this is your best summer ever. Drive carefully.
June has been a very busy month. I have attended a weeklong conference in San Diego the first week of June and one at Whistler last week.
I also moved from my home in Port Moody to downtown Vancouver in the middle of June. We hope our permanent home will be ready for occupancy in November of this year. Also, we will be moving our office effective June 30th.
We are moving our office to Suite 720, 650 West Georgia Street, Vancouver, BC, V6B 4N8. The same building, different floor. Our Phone number stays the same 604-687-1028.
CONTROL
FROM THE GRAVE:
THE POWER OF A TESTAMENTORY TRUST
by
Terry Fay
Robert, age 85 and his wife, Emma, age 80 have willed to their son John, age 59 $1,000,000 from their estate. They also have left John $500,000 from a RRIF and a $250,000 Life Insurance policy.
John is married to Kate, age 55. They have three children, Kate age 25, Steve age 22 and Carol age 19. John is established and works with the RCMP earning a relatively high salary.
Robert has two choices on leaving his son John the $1,000,000 estate.
1) A direct
inheritance or
2) Through a testamentary trust
FIGHT
THE CLAWBACKS - REDUCE LINE 234
Louise Guthrie, B. Math, FLMI, ACS, CAM, CFP, EPC
Assistant Vice-President Manulife Investments Tax and Regulatory Services
Canadians age 65 and older may qualify for two valuable government benefits – Old Age Security and an Age Credit. However, if the income reported on line 234 of the Federal Income Tax form is too high, these benefits can be clawed back and, in come cases, forfeited altogether.
This can result in the loss of thousands of dollars in benefits.
An In-Depth Look at the Issue…. And the Opportunities
Avoiding clawback s takes more than simply creating tax credits – which reduce the taxes owing. It is important to look at ways to actually reduce reported income.
All you really need to know is that we are committed to helping our clients achieve financial security and peace of mind.
Our Mission: Enhancing peoples lives by creating a positive life vision and the money to support it through our unique approach to financial planning.
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Mutual Fund Products Offered Through Dundee Securities Corporation.
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