Author: levinefinancial

OMA INSURANCE RATE INCREASE

Recently you received a notification from the OMA about a significant rate increase on OMA Disability Insurance. In fact this is the most significant rate increase in over 10 years on OMA Insurance.

Protecting your legacy

Estate Planning: What You Need to Know Courtesy of Nicola Wealth Management – April 2021 Estate planning is a comprehensive process undertaken during one’s life to ensure your assets are transferred to your chosen beneficiaries in the event of your passing. Most typically, estate planning focuses on ensuring that the surviving loved ones are provided for after the death of an individual and that the transfer of assets to intended beneficiaries takes place according to the deceased’s wishes. Estate planning…

Americans living in Canada face special planning issues

TIM CESTNICK SPECIAL TO THE GLOBE AND MAIL PUBLISHED FEBRUARY 7, 2019 If you’re a U.S. citizen living in Canada, then your tax and financial planning should take into account some special considerations. Here are the top six things to understand if you’re in this boat. TFSAS AND RESPS Tax-free savings accounts (TFSAs) and registered education savings plans (RESPs) aren’t recognized as tax-sheltered vehicles in the United States. Rather, both are considered to be foreign trusts that come with annual…

Probate and probate tax

When you pass away, your Will dictates how your estate is to be distributed. Upon your death, your will is likely going to be probated. Probate is the word that describes the process of having a Court accept a will as a valid Last Will and Testament and appoint an individual as executor of the estate to administer the estate. Administering an Estate: The individual appointed as executor in your will must apply to the Court for a “Certificate of…

OMA Insurance SLASHES its’ Annual Premium Refund- AGAIN!

For the past 10 years OMA Insurance has been advertising its not for profit status and the annual premium refund on various insurance products. Refunds are paid in December of each year.  For the first time in 10 years, the OMA did not publish the annual premium refunds on their website. As of June 2021, OMA Insurance announced. Group term life insurance – rebate has dropped from 70% to 20%   Office overhead -refund has dropped from 75% to 20% Group…

Its tax time. What you can expect

We refer clients to Nicola Wealth for Private Wealth Management because of their track record of excellence and performance with portfolio management. Below is a communique I received from them today on my portfolio and I wanted to share it with you. If you aren’t getting this level of service and expertise, please let us know and we will refer you to one of their specialists. Elliott ** In the coming months, you and/or your accountant will be preparing to…