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5 Questions Newlyweds Have About Life Insurance
  • MyRightPlan Admin
  • 2022 Aug 25

5 Questions Newlyweds Have About Life Insurance

Newlyweds, whether young or old, financially established or just getting started, often have similar questions related to their new marital status. So, let’s look at five FAQs newlyweds have about life insurance. How much life insurance do we need? What kind of life insurance do we need? Do we need life insurance if we don’t have kids? Can we afford life insurance? What is life insurance used for?   Source: LifeHappens.org Author: Devin Pascoe Read More: https://lifehappens.org/blog/5-questions-newlyweds-have-about-life-insurance/  

5 Questions Newlyweds Have About Life Insurance
Should Divorce Revoke The Beneficiary Designation In An Insurance Policy?
  • MyRightPlan Admin
  • 2022 Aug 13

Should Divorce Revoke The Beneficiary Designation In An Insurance Policy?

In Ontario, when a person gets divorced and then dies his/her bequest in their will to the former spouse is revoked.1 The law reads the will as if the former spouse died first.  So what happens when someone owned an insurance policy that designated the former spouse as the beneficiary – or what about the RRSP?  Does divorce automatically revoke those designations?                                                             Read More: https://www.wagnersidlofsky.com/should-divorce-revoke-the-beneficiary-designation-in-an-insurance-policy

Should Divorce Revoke The Beneficiary Designation In An Insurance Policy?
Estate planning with TFSAs
  • MyRightPlan Admin
  • 2022 Aug 13

Estate planning with TFSAs

When a TFSA account holder dies, the tax implications can vary based on the beneficiary named, the amount of income earned after death, how long it takes to distribute the amounts and even the type of TFSA. In all cases, the fair market value (FMV) at death can be distributed tax-free — but any increase to the FMV after death is taxable.                                                                                                                   Read more: https://www.advisor.ca/magazine-archives_/advisors-edge_/estate-planning-with-tfsas/  

Estate planning with TFSAs
The Law of Intestacy in Ontario
  • Rahber Fatmi
  • 2020 Jul 13

The Law of Intestacy in Ontario

Ontario Court has statutory provisions that detail who inherits an estate when the deceased did not have a valid will. Link to Ontario Ministry of the Attorney General on How Estate is Distributed is https://www.attorneygeneral.jus.gov.on.ca/english/family/pgt/heirclaim.php Source: The Law of Intestacy in Ontario

The Law of Intestacy in Ontario