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Marjo Johne, The Globe and Mail»
A worry for the wealthy: keeping cash from children’s ex-spouses
An integral part of a successful financial plan is estate planning, which can include passing on your wealth to your children, and “keeping it in the family.”
Many of our clients have voiced their concerns about passing on their wealth to their child(ren) only to have it lost due to a breakdown in their child(ren)’s marriage. The attached article written by Marjo Johne, provides similar recommendations as us to questions we have encountered from clients, such as:
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We want to give our child a large sum of money as a down-payment for their house. How do we do this while still protecting our wealth?
- We give our child a regular distribution from our wealth. Can this cause an issue if our child’s marriage ends and the ex-spouse claims dependency?
- How can we gift money to our child and ensure that it does not go to the ex-spouse if there is a marriage breakdown?
A properly executed estate plan will ensure that your wealth is distributed to your beneficiary(ies), for their benefit, in the way that you intended.
Continue reading...
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Insurance »
Personal Insurance Needs
Have you ever thought about life insurance but weren’t sure what your actual needs are or how it could benefit you? Manulife’s “Personal Insurance Needs” article goes over just that with a wide range of topics such as protecting dependants, covering estate costs, leveraging opportunities and intergenerational transfers of life insurance. If you come across a topic in this article that you would like to learn more about, contact your advisor at The McClelland Financial Group. We would be happy to assist you with any of your life insurance questions and/or needs.
Continue reading...
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Ask your advisor»
Risk
Risk can mean different things to different people. Some see risk from a potential loss perspective while others see it from a potential gain perspective. There is no right or wrong answer because risk is unique to every individual.
At The McClelland Financial Group, we view risk differently as well. We see risk as a measurement of time rather than a percentage. Traditionally, when it comes to investments, risk of loss or risk of gains is measured in percentages ((i.e. "because I have some stocks in my portfolio, I could lose 20% at any given time"). Conversely, a portfolio of some stocks could gain 20% at any given time. Our investment philosophy attempts to eliminate the term "could" in the previous examples and accept the fact that a market-based account will decrease and/or increase in value at any given time. The question now becomes, if my portfolio does drop in value (regardless of the amount), then when or how long will it take to recover?
How do we do this? By simply investing our clients' money into the entire investment universe (all publicly traded companies). Since the time that data has been recorded for stock market performance, their values have increased. It is common sense. Companies are in the business of making money for their shareholders. Surely, there are companies that will go bankrupt or insolvent. But there are also companies that will experience tremendous growth. The goal is not to guess which companies to avoid and which companies to own. The goal is to own all companies and take the good with the bad.
A portfolio with 100% stocks (i.e. indices), would experience swift losses with the market, but would then experience swift gains when the market recovers. A portfolio with 60% stocks and 40% bonds (safety) would not decrease to the same level of the market, and therefore would experience a shorter recovery period to the pre-loss level.
In summary, with an appropriately diversified portfolio, risk should be viewed as an element of time rather than an element of percentage.
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Refer a Friend and You'll Both Be Well Advised.
We at the McClelland Financial Group are here to help.
If you have a friend or family member that you think could benefit from our advice we would be happy to assist.
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Stay Tuned for September 25th Lunch and Learn at The Thornhill Golf and Country Club!
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Assante Capital Management Ltd. is a member of the Canadian Investor Protection Fund and is registered with the Investment Industry Regulatory Organization of Canada. This material is provided for general information and is subject to change without notice. Every effort has been made to compile this material from reliable sources however no warranty can be made as to its accuracy or completeness. Before acting on any of the above, please make sure to see me for individual financial advice based on your personal circumstances. Insurance products and services are provided through Assante Estate and Insurance Services Inc.
Commissions, trailing commissions, management fees and expenses, may all 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 Fund Facts and consult your Assante Advisor before investing.
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