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What Will Be Sacrificed

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Many believe that if they need long term care, either in their home or in a facility, that the cost will be covered by provincial health care or other government agencies. While there are certain programs available, a significant portion of these costs are the responsibility of the patient. Ted and Martha had been retired for about ten years when Martha developed a cognitive impairment. Ted was…

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The Big Squeeze!

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“Everyone wants to live at the expense of the state. They forget that the state lives at the expense of everyone.” - Frederic Bastiat By the time that you read this article, it is very likely that the Federal elections will soon be over. When all the back slapping, hand wringing and hyper-analysis is done, the new political regime will be faced with one inescapable challenge. Consider the…

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How Should I Insure My Mortgage?

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Ron and Susan are arranging a mortgage and the banker asks if they'd like to include life insurance to pay it off on death. Sounds like a good idea, so they decide to take it. After filling out and signing a few more forms, they have it. Or would your family be better off if they collected the insurance, and then decided whether or not to pay off the mortgage? Since a house without a mortgage isn…

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Life Insurance Tax Rules Changing

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Starting in January 2017, the allowable cash value build up under tax rules in life insurance policies will change. The federal government introduced changes in December 2014 that are designed to modernize life insurance exempt testing rules as they have discovered that people are living longer and that their insurance policies will pay out later. As a result of this new legislation, the…

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Inheritance: The Solution to Your Financial Struggles?

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If you are sitting neck deep in debt, living beyond your means, and still calm and collected about your own financial well-being, then chances are, you are one of the many millions of people expecting an inheritance at some point in the future. Like other inheritance recipients, perhaps you are expecting your personal balance sheet to align just as soon as your parents or a favorite grandmother…

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