Articles

When many people think of prenuptial agreements (prenups), they might envision them as a safeguard for the wealthy, an uncomfortable formality that presupposes the end of a marriage before it even begins. However, prenups offer far more than just financial protection—they can be a powerful tool for preserving the integrity of marriage by creating a clear, mutual understanding of expectations and providing both partners with the freedom to navigate their relationship honestly and openly.

As people age, it is common for them to consider whether they should be gifting assets during their lives, as opposed to upon their deaths. They may be motivated by their adult children’s financial needs or by the opportunity to reduce tax payable. Regardless, there are several tax considerations when contemplating the gifting of assets.

One of the most enjoyable parts of being a contributor to Canadian MoneySaver is interacting with fellow MoneySavers. Many are not only passionate about personal finance but also want to help others increase their level of financial understanding.

The National Institute on Ageing (NIA) released a 2023 report entitled “Where There’s a Will, There’s a Way: Exploring Canadian Perspectives on Estate Planning”. The findings were clear that most Canadians have ignored their estate planning.