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WHAT HAPPENS WHEN AN RESP SUBSCRIBER DIES?
December 15th, 2015 by Gemma Brown
With our rising education costs, Registered Education Savings Plans (“RESP’s”) are becoming a popular way to save for a child or grandchild’s education. What happens however when the RESP subscriber, being the person who set up the RESP, dies? Many think that RESP’s are treated the same as RRSP’s, but that is not true. They are not a trust, but rather a contractual arrangement. On… Read More »
Registration of Business Names
December 11th, 2015 by Robert Smith
Selecting the appropriate business name is sometimes the most difficult task faced by the prospective entrepreneur. Your name will be your identity and the way others see you. The registration of a business name is on the public record at the Companies Office of Manitoba and a search of any registered business name will reveal the location of the business and the owners of it.… Read More »
RRSP Home Buyers Plan
October 22nd, 2015 by Robert Smith
When two or more eligible individuals jointly purchase a home, the credit may be shared but the total credit amount claimed cannot exceed $5,000. In addition to the HBTC, first time home buyers are also eligible for the Home Buyer’s Plan (“HBP”). This is a program that allows you to withdraw up to $25,000 in a calendar year from your registered retirement savings plans (RRSP) to buy… Read More »
Health Care Directives
September 16th, 2015 by Robert Smith
Elsewhere, this website has featured articles on Wills and Powers of Attorney. A Will is a written document which sets out the method of distribution of the assets of the deceased. A Power of Attorney is a written document wherein the individual, called the donor, appoints an attorney or attorneys to carry on the donor’s day to day affairs during the lifetime of the donor… Read More »
Lawyers for Literacy
May 7th, 2015 by SNJ
“Once you learn to read, you will be forever free.” – Frederick Douglas As lawyers, we may often take for granted the gift of literacy that we have all been given and encouraged to grow as we followed our individual paths into roles that are to help assist and foment societal progress for not only the presiding generations, but for those to come. This notion… Read More »
Cottage Planning
April 17th, 2015 by Gemma Brown
Cottages are similar to family farms. Their succession plans should be similar too. Cottage succession planners should take a lesson from farm experts. Cottages, like farms, make succession planning challenging. Succession planning for the family cottage has many similarities to transferring the family farm. The primary goals of most cottage owners are: To preserve the cottage for future generations To eventually transfer the cottage to… Read More »
