Category: Blog

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. In December 2020, OMA Insurance quietly announced. Life insurance – rebate has dropped from 70% to 20%   Disability insurance – refund is eliminated Office overhead -refund has dropped from…

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…

We need your help at SickKids Hospital

2020 has been a difficult year. Thanks to the amazing care from the team of physicians and staff at SickKids, Nathan can spend the holidays at home with his family. In 2019, we partnered with SickKids Hospital to match donations that were made on the last two days of the year. We are very excited to share that we will be doing this again in 2020! All donations on Dec. 30th and 31st are being tripled. Please join us in…

How does whole life insurance perform during crises such as COVID-19?

  With COVID-19, clients have experienced drastic volatility with their stock portfolios. Businesses are closing, unemployment is rising,  professionals (dentists, surgeons, specialists) are out of work or dealing with drastically reduced hours. Some clients are asking about their Participating Whole life insurance (PAR) amidst this crisis. Specifically, the viability of companies such as Sun Life, how the Sun Life PAR portfolio is invested and how this portfolio has held up during times of uncertainty. First we will look at the…