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Client Experiences

This example is provided for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. We are not tax advisors and we recommend that clients seek independent advice from a tax-professional.


Case #1

Easy Transfer of Estate funds and protecting from “Gold Digger”

Bill Smith (name has been changed to protect identity), an 82-year-old man was referred to us by a local lawyer. Bill wanted to make sure his daughter received an inheritance after his death. However, his daughter was not investment savvy, so he wanted to have something in place so she would receive monthly income rather than a lump-sum from the inheritance.

After discussing with him his concerns and expectations, we advised him to invest $200,000 in variable annuities (segregated funds) with one of the Canadian insurance companies. We added the Annuity Settlement Option (ASO) on the policy (this allowed him to tell us how to payout the money going to his daughter upon his death and for how long).

When Mr Smith passed away, the proceeds from the money invested with the insurance company were used to purchase an Annuity (ASO) in the daughter’s name and she started receiving her monthly income eight weeks later. These funds also by-passed the probate process and the associated fees.


Case #2

Helping to simplify finances (accounts), increase retirement income and prepare a smooth estate transfer with lower fees.

Ms. Miller at 72 years old, moved to Trenton to live in a retirement home closer to her three grown children and her young grandchildren.

Ms. Miller came to us with multiple RRIF investment accounts as well as a couple of different investment accounts with different banks. She receives enough income from CPP, OAS and a nurse’s pension to satisfy her current monthly expenses.

However, she was concerned she could outlive her investments since she comes from a family with long life expectancies.

After discussing her concerns and goals, we consolidated all of her RRIFs into one RRIF (less paperwork going forward). We Invested all her proceeds in the RRIF ($75,000) into segregated funds with a Guaranteed Minimum Withdrawal Benefit (GMWB) rider from a well-established life-insurance company.

This guaranteed income product ensures that she will not be able to outlive her RRIF income.

The majority of the assets held in her non-registered investments were also put into several segregated funds from two major life insurance companies. Her guaranteed income in retirement is 4.75% for life.

Upon her demise, all investments will be passed to her three children in a fast and very cost-efficient manner (bypassing probate). Mary is now very much at peace with her new financial situation and can enjoy her time traveling and visiting with her grandchildren.