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Six Laws of a Long and Happy Life

Wondering if we’ll ever get summer this year? Here’s something to ponder if you’re stuck at the cottage in the rain. . .the six laws of a long and happy life. This, by default, means the need to avoid life’s sure end for as long as possible. How and why do people die in Canada? According to a study by Kathryn Wilkins for Statistics Canada entitled, “Predictors of Death in Seniors,”[1] there are some remarkable findings related to education, income and lifestyle:

Tax Efficiency Strategy: Earn More Tax Exempt Income

There are many sources of tax exempt income of which most people are unaware. Here’s the tax secret… As a general rule, exempt income sources are not entered on the Canadian tax return at all. If you reported these amounts in error, you may contact the tax department to have them removed. The most common types of exempt income are the following…

The spousal trust: The remarried spouse’s best friend

In recent decades, the number of Canadians entering a second marriage has been on the rise, creating more and more blended families. And when it comes to tax and estate planning for a blended family, Advisors need to give it special attention. Indeed, the needs and desires of people living in blended unions are different from those in a more “traditional” family unit.