Estate Planning

Estate Planning Intro

Financial and estate planning offer opportunities to help secure the financial well-being of a loved one with a disability. This is particularly important if your family member with a disability has limited opportunities to earn a good income from employment or has little or no other sources of income. There are many issues to consider […]

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Financial Planning Process

Overall, financial planning is about reviewing your family’s financial situation, determining your financial needs and goals, and deciding how you are going to achieve your goals. When you have a family member with a disability, financial planning tends to address the goal of providing for your family member today and in the future. There are […]

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The Tax System and People With Disabilities

The Canadian income tax system provides for a number of important benefits and deductions for people with disabilities and their families. Each year, the Canada Revenue Agency produces and updates a guide entitled Medical and Disability Related Information (CRA document number RC 4064). People can usually get this guide at their local Canada Revenue Agency […]

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Registered Disability Savings Plans: A New Planning Opportunity

In 2008, the government of Canada established a new tax deferred savings plan for people with disabilities. Registered Disability Savings Plans (RDSPs) will provide opportunities for parents and others to make contributions and for people with disabilities to receive government grants and bonds. NBACL has a detailed resource booklet for families who are interested in […]

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Estate Planning Introduction

Estate planning is an important aspect of family financial and future planning. Estate planning is about deciding how you distribute your assets and provide for the people who you care about. There are a number of important things to consider when preparing an estate plan, especially if you are intending to support a loved one […]

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Establishing a Financial Trust

A trust is a legal arrangement whereby a person gives assets (that he or she owns) to a trustee to manage and use for the benefit of another person or a group of people (known as “beneficiaries”). The trustees of a trust have strict legal responsibilities to hold and administer trust assets, to follow the […]

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A Plan For People With Disabilities Receiving Social Assistance Benefits

When a family member with a disability receives provincial social assistance (income support) benefits, financial and estate plans must take the rules of the social assistance program into account if these benefits are to be protected. What Income or Assets can a Person Have and Still be Eligible for Income Support Benefits? Generally, government considers […]

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Planning For a Future Home

Planning for a future home for your family member is one of the most important aspects of planning. Over the years, your son or daughter has known the comfort and security that comes from living in your family home. The family home has provided a sense of belonging and security that your son or daughter […]

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Putting It All Together

The scenarios below are fictitious but may represent similar circumstances of families in New Brunswick. While they contain information about planning ideas, they are not meant to be used as financial or legal advice for your specific family situation. We thank Jeff White from Freedom 55 Financial for providing the financial planning information for these […]

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