Is life insurance a true financial asset? In some provinces it is, and you can sell a policy like any other financial asset you own (see my article on this). However, for incorporated businesspeople and professionals, it may be possible to transfer a personal life insurance policy to a corporation or other prescribed entity, especially if the shareholder faces medical or health problems that make purchasing new insurance too costly.
With worries over the European economic situation lessening, European equities have been on a pretty strong run of late, with the Chou Europe Fund leading the European Equity mutual fund pack. It was one of the top performers over the five years ending June 30, gaining an average of 16.3% per year. For the past year alone, it gained an impressive 27%. The fund kept its Fundata FundGrade® A-Grade for June, and achieved the Fundata FundGrade A Rating™ in 2013.
Retroactive tax hikes hurt family financial plans and make it difficult for them to responsibly plan for their financial futures. Yet, that’s exactly what’s at stake with Ontario’s significant tax hikes on high earners and small business, reintroduced in its July 2014 budget. To preserve wealth in 2014 and offset higher taxation on income, planning to minimize personal tax during work life and at retirement must begin immediately for business owners, employees with higher incomes, and in particular, with executors who will preside over a significant untaxed estate.
The iShares franchise, which is owned by BlackRock Asset Management Canada, dominates the ETF market in this country with an estimated share of about 80%. But a new player from south of the border is threatening to make things interesting.