Retiree
Life Income Fund
A Life Income Fund (LIF) is a specialized retirement income vehicle designed to manage pension funds and provide a steady stream of retirement income. Unlike lump-sum withdrawals, LIFs are structured to ensure financial support throughout your retirement years.
Key Features:
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Lifetime Income: LIFs are tailored to provide income for your lifetime.
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Government Guidelines: Minimum and maximum withdrawal amounts are determined annually based on your LIF's balance and annuity factor, as specified in the Income Tax Act.
A RRIF, or Registered Retirement Income Fund, is a registered arrangement between you and a financial institution recognized by the Canada Revenue Agency. It allows you to transfer funds from various retirement savings plans, such as RRSPs, PRPPs, RPPs, SPPs, or another RRIF.
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Tax Benefits - Enjoy tax-free earnings within your RRIF while understanding that withdrawals are taxable upon receipt. The flexibility to transfer property from various retirement plans adds to its appeal.
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Tailored Payouts - With a minimum annual withdrawal requirement based on your age, RRIFs are designed to cater to your specific needs during retirement. For more details, reach out to us for personalized guidance.
Registered Retirement Income
Funds (RRIFs)
The Canada Pension Plan (CPP) is a mandatory contributory retirement plan that provides you with an inflation-indexed retirement pension, generally beginning at age 65.
CPP Income Planning Guide
Guide to Passing on Wealth
Planning for death is difficult, because it’s an emotional topic. However, to preserve wealth, it’s important to employ a checklist to enable a thorough discussion and encourage trigger questions.
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Ontario's probate process is governed by the Estate Administration Tax Act, 1998 ("EATA"). In 2011 Ontario enacted significant changes to the legislation. With these regulations in place, Ontario released its Estate Information Return, which executors will be required to file for estates for which an application of probate had not been submitted prior to January 1, 2015.
To learn more about how these regulations may affect you, please get in touch with us or click Contact us .
Ontario's Estate Information Return
Your Will Planning Workbook
A great deal of thought and planning needs to go into preparing your Will. Not only should you consider what your estate is currently worth, you should also consider your future sources of wealth.
Segregated fund contracts offer built‑in features designed to help clients achieve all of these goals to protect and build savings, and do so in ways that may not be possible with other investment vehicles. They appeal to conservative investors, particularly those who worry about market downturns and enable them to retire with confidence. They have elements that attract business owners and professionals, who may have concerns about creditor protection. They provide advantages to anyone looking for strategies to protect an estate for loved ones.
*Subject to any applicable death and maturity guarantee, any part of the premium or other amount that is allocated to a segregated fund is invested at the risk of the contract holder and may increase or decrease in value according to fluctuations in the market value of the assets in the segregated fund.
Segregated Funds*
Annuities
An annuity is an insurance contract where, in exchange for a single lump-sum deposit, an insurer makes guaranteed regular income payments back to the owner of the annuity. These payments contain both interest and a return of principal component. Annuity payments can continue for a chosen period of time or for the lifetime(s) of on or two people.
