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With the tax season fast approaching, you may have questions about how your trust is taxed, who is responsible for tax filings, or how trust income taxes get paid.

A Revocable Trust – sometimes referred to as a “Living Trust” – is a lifetime trust that can be amended or revoked at any time during the creator’s life. The creator (or “grantor”) of the trust typically also serves as trustee and is also a trust beneficiary during their life. At the grantor’s death, the terms of the Revocable Trust direct how the grantor’s assets are to be distributed, essentially acting as a substitute for the Will. Nonetheless, the grantor still executes a Will. This is beca

In this episode, Mike LaMena speaks to Jim McCann, entrepreneur, philanthropist, public speaker and published author.

As you begin to think about selling your business, excitement about what your life will look like after the sale may be tempered by the reality of a significant capital gain recognition event. One way to manage some portion of the potential income tax consequences of a sale is through philanthropy. Thoughtful charitable planning may provide both meaningful capital gain management and an opportunity to give back to the community that allowed you and your business to thrive. You may make a charit

One of the most flexible and powerful gifting techniques is to loan money to other family members, especially in a period of low interest rates. The reason it works is simple: on average, the person receiving the loan should be able to invest the money received in a way that produces a rate of return greater than the interest rate on the loan. Thus, when the borrower returns the loaned money at the end of the loan’s term, they will be able to keep this excess return. Because the money was loane

Who would you trust to take care of your children if something happened to you? Who would you trust to manage their finances? Who in your life would be capable of administering your estate if you pass away? For some fortunate people, the answers to these questions are clear. For many others, however, answering these questions is far from easy. When clients are crafting or revising their estate plans, there are a lot of questions to answer and a lot of decisions to make. As a starting point, we

What is a Charitable Lead Annuity Trust (CLAT)? A charitable lead annuity trust (“CLAT”) is a type of charitable trust whereby a charity, donor advised fund, or foundation of the grantor’s choosing (the “Lead Beneficiary”) receives annual payments, either for a term of years or the grantor’s lifetime. At the end of this defined period, the remaining CLAT assets are distributed to the CLAT’s non-charitable beneficiaries, who are usually the grantor’s descendants, or trusts for the descendants’ b

4% Rule Definition Planning for retirement and knowing exactly how much you need to save can be tricky. The 4% rule is a great tool to use to ensure you’re on track to meeting your retirement goals. Where Did The 4% Rule Come From? The 4% rule is based on a study that analyzed historical market returns to determine a realistic and sustainable withdrawal rate over a 30-year retirement period. Financial planner William Bengen popularized the rule that if you withdraw 4% of your retirement savings

Are you interested in a long-term investment strategy but aren't sure where to start? Good! This is for you. Throughout the journey of our professional careers, we will encounter many major decisions, some of which we are more prepared for than others. Depending on your background and interests, you may know that you need a plan for long-term investment goals, but don't know how to begin. If so, know that you’re not alone. To build confidence in your plan, it is important to understand that bui

In episode 6 of the In Crowd podcast, Ang talks to Elizabeth Pizzinato, CMO of Newport Private Wealth based in Toronto and serving clients across Canada.

What Are Magnificent 7 Stocks? The term "Magnificent 7" refers to seven dominant companies, primarily in the tech sector, that currently play a significant role in shaping the stock market. These stocks are pivotal to market indices and represent some of the most innovative and valuable firms globally. What Stocks Make up The Magnificent 7? The Magnificent 7 stocks are seven of the largest, most influential, and high-growth companies in the world, typically including Apple (AAPL), Mic