Media

An Ontario woman was shocked with a $660,000 tax bill after both her parents passed away just months apart. How did this happen — and how can you protect your family from the same fate?

This week, Peter breaks down:

• What happens to your RRIF when you pass away
• How rental properties and family cottages are taxed
• Smart steps to reduce estate taxes and preserve wealth

Don’t wait until it’s too late — learn how to plan ahead and safeguard your legacy.

This week on CTV Morning Live Vancouver, Peter explains what really happens to your RESP if the Subscriber dies – and clears up a common misconception.

Most people think a RESP disappears from their estate because it’s a “trust”—but that’s not quite true. It’s actually a contract between you (the Subscriber) and your bank or financial institution (the Promoter).

So, what does this mean for your RESP and your loved ones after you’re gone?

Peter breaks down how you can:

• Name a successor Subscriber
• What they need to do to take over, and
• Whether your personal representative can step in.

Don’t miss this episode – it’s all about protecting your RESP and planning ahead for your kids’ future.

A recent report says you do, but is it true? Tune into Peter this week on CTV Morning Live as he breaks down fear vs fact.

Take this real couple:

• Retired at 65 and 63
• $610,000 in investments
• Total monthly income: $8,050
• Only need $5,000/month to live well

They have more than enough, and they’re not touching their principal. Don’t buy into the hype pushed by banks and mutual fund sales reps. Make smarter, clearer financial decisions.

Ignoring estate planning won’t make it go away. This week on CTV Morning Live, Peter breaks down why it’s time to lift your head out of the sand and tackle the essentials:

• RRIF and taxes
• Rental property management
• Your will, power of attorney and representation agreement
• Advanced medical directive
• Beneficiaries—do you have the right ones in place?

A well-prepared estate means peace of mind for you and your loved ones. Tune in to find out what you need to know!

Estate planning is about more than just managing money – it’s about leaving a legacy and ensuring your wishes are carried out. Join Peter as he dives into this critical topic, answering essential questions like:

• How to handle your money, taxes and assets after you’re gone. Create a lasting impact and help your loved ones.
• What happens to your RRSPs?
• How to ensure your wishes are fulfilled as you intended.

It’s never too early to talk to your financial planner about building an estate plan that works for you. Take charge of your financial future today!

Does adding your child’s name on your property title before you pass make the process easier or will it lead to more complex issues? Peter joined CTV Morning Live to break it down and provide you with some tips to think about.