Finance in Five

June 2021

Wills

A will is a written document 1, properly signed, which:

  • specifies who is to administer the estate (the executor)
  • specifies what is to happen with the assets and liabilities of the estate
  • specifies certain other wishes such as guardianship of children and burial instructions
  • takes effect only upon the individual's passing.

The effect of the will is to provide a court approved authority (probate) to an individual(s) or a trust company to sign...

Read More

Mortgage Insurance: Not Necessarily as Advertised

It’s all part of the process when you are arranging a mortgage for your new home. The bank employee inevitably asks if you would like to purchase mortgage insurance. No one likes to think about their own mortality; however, we all know deep down that stuff happens. People contract terminal illnesses or suffer debilitating or fatal accidents.

Knowing that your loved ones will be taken care of can provide some peace of mind - so you decide to accept the bank’s offer for mortgage insurance. But beware the policy may actually not provide the protection you are expecting.

Real-Life Tragedy

A few years ago, CBC Marketplace did an in-depth report ( In Denial ) on how many...

Read More
Print PDF

Tax Planning for Severance Packages

Over the past year, economic stresses worldwide have resulted in many employees receiving severance packages and being advised that their services are no longer required. The longer you’ve been employed with an organization, the higher your severance package will be. With the national job market still experiencing varying levels of stress, it is more important than ever to hang on to as much money from an employment severance settlement as possible.

If you don’t plan ahead, the tax authorities have no problem relieving you of your extra money. A professional tax and investment advisor will run through the options with you and help you choose a strategy that best fits your circumstances.

Read More
Print PDF
 
 
Online Resources

The only place where success comes before work is in the dictionary.

Vidal Sassoon

Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. Please read the prospectus of the mutual funds in which you invest. The information in this email newsletter is general information only and is not intended to constitute specific legal, accounting, financial or tax advice for any individual.

KLT Wealth Management
148 Peel Street Unit 1B, New Hamburg, ON N3A 1E3
Ph: (519) 662-4001