Financial and Estate Planning


Financial – Let us help you meet your life goals through the proper management of your resources.  These goals can include buying a home, saving for your child’s education, planning for retirement, or leaving a legacy.  The process involves gathering relevant financial information, examining your current resources and developing a plan for how you can meet your goals given your current situation and future plans.  It allows you to understand how the financial decisions you make affect other areas of your life.  By viewing each financial decision as a part of a whole, you can then consider its short and long-term effects on your life.  You may also adapt more easily to life changes and feel more secure that your objectives are on track.
Estate – Let us assist in preparing for the transfer of a person’s wealth and assets during their lives and after their passing.  Assets, life insurance, pensions, real estate, cars, personal belongings, and debts may all form part of one’s estate.  Estate planning typically attempts to eliminate uncertainties over the administration of probate and maximize the value of the estate by reducing taxes and other expenses.



Term – This is the most basic form of insurance, it provides coverage for a predetermined period i.e., 10, 20, 30 years.


Whole Life  – Offers permanent life insurance protection with guaranteed premiums, cash value and death benefits.  Some Whole Life policies known as Participating (PAR) pay dividends which can be utilized in various ways.  Such as buying additional term insurance, reducing the premium, purchasing additional paid up insurance, or leaving them in an account.


Universal Life – Offers permanent life insurance protection with a tax advantaged investment component.  This investment component (cash value) can be accessed in the event of emergencies, retirement or estate planning needs.



Disability Insurance – Provides an income in the event you become unable to work to due to accident, or illness.  Statistics state that 1 in 3 people will become disabled for 90 days or longer before the age of 65.


Critical Illness Insurance – Provides a lump sum tax free payment in the event you are diagnosed with one of the covered conditions such as, heart attack, stroke, or cancer.  The funds will allow you to focus on your recovery, not your bills.


Long Term Care Insurance – Canadians are living longer due to healthier life styles and medical advances.  As we age, we may lose the ability to care for ourselves.  Long term care insurance provides the support and financial resources to cover out of pocket expenses for care.

Investments – Registered


Tax Free Savings Account (TFSA) – A flexible, registered all-purpose saving vehicle that allows you to earn tax free growth on your investments.


Registered Retirement Saving Plan (RRSP) and Registered Retirement Income Fund (RRIF) – RRSP – A tax sheltered investment vehicle that is registered with the federal government to aid in funding your retirement.  These contributions reduce your tax payable and withdrawals are fully taxable. Generally, the amount you can contribute to your RRSP or your spouse’s or common-law partner’s RRSP, for a given tax year without tax implications is determined by your RRSP deduction limit.  This is often called contribution room, which is calculated as 18 percent of your previous years earned income to a maximum value each year.  Unused contributions are carried forward each year, therefore if you didn’t maximize your RRSPs last year, you can add the unused amount to the current year’s limit.


When an individual turns 71, they have options with respect to their RRSP savings.  They can withdraw all of their RRSP savings, which will be fully taxable.  They can also transfer them into a RRIF, in which earnings are tax-free and amounts paid out are taxable on receipt.  The minimum amount must be paid to you in the year following the year the RRIF is established.


Registered Education Savings Plan (RESP) – A Registered Education Savings Plan, or RESP is a government registered plan that helps you save for you children’s post-secondary education. Savings grow and are tax deferred, contributions may be eligible for government grants.


Locked In Retirement Account (LIRA) / Life Income Fund (LIF) – A LIRA is a Canadian investment account specifically designed to hold locked in pension funds for a former plan member, spouse or common law partner.  Funds in a LIRA are generally not accessible until retirement at which point they are transferred to a LIF.


LIF  – is a type of locked in account, similar to a RRIF but with certain restrictions. Funds transferred into a LIF originate from a pension benefit under a federally regulated pension plan.



Segregated Funds – These funds combine the growth potential of a mutual fund with the security, creditor protection and guarantees of a life insurance contract.  Like mutual funds, segregated funds are professionally managed and consist of a pool of investments in securities such as stocks, bonds and debentures.  Segregated funds may be registered, or non-registered.
Unlike mutual funds, segregated funds provide death benefit and maturity guarantees – usually (75% to 100%).  For these guarantees – Segregated funds usually have higher management expense ratios (MERs).  If positioned properly, segregated funds also offer potential creditor protection and can by-pass probate.



An annuity is an insurance product where you invest a sum of money in exchange for a steady stream of payments. These payments can last for a life time, for one or two people, or a specified time period. There are two types of annuities.


Deferred Annuity – payments commence after a specified period of time from the final contribution.
Immediate Annuity – payments commence a soon as you invest.