Does the Timing of Required Minimum Distributions Matter?
The answer is a resounding yes. If you’re 72 years of age or older and need to meet the minimum distribution requirements for your qualified retirement plans each year, several factors need to be considered when determining the best time to do so. Learn more about them in this blog post.
Cardinal Point to Join Focus as a New Partner Firm, Bringing Cross-Border Tax and Wealth Management Expertise to the Focus Partnership
Focus Financial Partners Inc. (NASDAQ: FOCS) (“Focus”), a leading partnership of independent, fiduciary wealth management firms, announced today that Cardinal Point Capital Management Inc. and Cardinal Point Wealth Management, LLC (together, “Cardinal Point”) have entered into a definitive agreement to join the Focus partnership. The transaction is expected to close in the fourth quarter of 2021, subject to the receipt of regulatory approval and other customary closing conditions.
The British Columbia (BC) Speculation and Vacancy Tax
If you’ve been living in the US or elsewhere abroad and plan to purchase property in British Columbia in the future, you are going to encounter the SVT or BC Speculation and Vacancy Tax. Designed to address real estate affordability, the tax is imposed annually based on factors including residency status and where you derive and report your income. Learn more about the SVT and its complex cross-border implications in this article.
Combating Inflation Risk Within a Diversified Portfolio
If you have been paying any attention to economic news lately, you’ve likely been inundated with articles about inflation. While some economic media outlets are predicting sustained inflation over 3%, it is truly impossible for anyone to know what the future may hold. That is why our Investment Committee continuously meets to review market conditions and discuss any additions that may provide value to our client portfolios. Learn more about how we combat inflation risk with diversification in this article.
Structuring Options for a Canadian Owning U.S. Vacation Property
Home equity in Canada has significantly increased, and some Canadians are now thinking about purchasing vacation homes. Thanks to a favorable Canadian-to-U.S. dollar exchange rate, many of them are also considering the U.S. as the possible location of such vacation property. If you are among them, you need to consider your wealth structuring options before you make a purchase. Learn more in this article.
Terry Ritchie on Life and Retirement Traps for Cross-Border Clients
From dangerous assumptions and differing tax rules to inadequate health coverage and life insurance considerations, there are several common traps U.S. retirees moving to Canada may face without the guidance of a cross-border wealth manager. Terry Ritchie recently shared his insight into these traps with ThinkAdvisor, an online resource for financial and investment advisors.
The Health Savings Account in a Canada-U.S. Context
Everyone should save for retirement and rainy days. However, once you’ve established an emergency fund in a basic savings account, the decisions you’ll need to make about how to invest your money become more complex. This is doubly so if you’re moving from the U.S. to Canada or living cross-border. In this article, we’ll take a look at why health savings accounts (HSAs), which are tax friendly in the U.S., may not be as tax friendly in Canada.
The Importance of Neighborhood Choice When Moving Cross Border
With so many factors to consider when planning a move across the Canada/U.S. border, it is easy to neglect researching the history and ethnic diversity of the neighborhoods in which you may want to buy your new home. Learn more about why these details matter in this firsthand account of one family’s experience.
With recent headlines touting hidden bond risks, you may be wondering if you should be concerned about your bond holdings. In this piece we’ll take a look at why Cardinal Point views bonds as a means to provide stability in client portfolios and not an area of dramatic long-term risk.
Should You Consider a Continuing Care Retirement Community?
Whether you’re planning your own retirement or helping an older relative with his or her later-life decisions, a continuing care retirement community may be a good housing option. In this blog post, we’ll take a look at the definition of continuing care, the various levels available, and other considerations to make when evaluating facilities.
Environmental, Social, and Corporate Governance Investing
Would you like to align your investments with your personal views? If so, ESG investing—also known as socially responsible investing or impact investing—may be for you. In this blog post, we’ll take a brief look at recent growth in this investing model as well as the various factors evaluated within it.
At present, only Canadian citizens or permanent residents of Canada are permitted to enter the country. If you’re planning to move to Canada during this pandemic, you’ll need dual citizenship or to travel as the immediate or extended family member of a Canadian citizen. You’ll also have to follow specific protocols before and after entry into the country
Scott and Marie McFarland lived and worked in Canada for many years as well as in the U.S. for a time. They eventually retired to the United States, choosing the Sun Belt as their home. The McFarlands are not wealthy. However, they will gladly tell you that they feel rich.
Canada Non-Resident Planning: A Guide to Retirement Account Unlocking
Canada Non-Resident Planning: A Guide to Unlocking Your Retirement Account Are you a former Canadian resident with a Canada-based retirement account or pension? If so, and you’ve permanently departed the country, you may be able to unlock these retirement savings. In this blog post, we’ll explore the various provincial rules surrounding this opportunity.
Canada and the United States have a Tax Treaty – So What?
What You Need to Know About the Canada and U.S. Tax Treaty Are you considered a taxpayer in both the U.S. and Canada? If so, a better understanding of the two countries’ income tax treaty—established in 1980—may help you minimize your tax burden. In this blog post, we dissect several examples of residency and the treaty’s implications.
From insurance policies to checking and saving accounts, loan payments, and other monthly bills, who will handle your assets and obligations should you die unexpectedly? If 2020 has taught us anything it’s that unpleasant surprises are always possible. Meeting annually with your spouse, significant other, or a trusted family member or friend to go over your financial and personal wishes can give you peace of mind in an otherwise uncertain world. Learn more about the details you should review in this article.
Do you have assets in two or more countries? If so, you’ll want to read this blog post about managing the different currencies in your portfolio. In it, you’ll learn more about Cardinal Point’s philosophy on currency hedging including considering your future income needs.
Estate Planning when moving from the U.S. to Quebec
If you’re a Canadian living in the U.S. or elsewhere in Canada and planning a return to your home province of Quebec, there are a number of factors you’ll need to consider including the ramifications of such a move on your current estate plan. In this article, we’ll take a closer look at differences between Common Law and Civil Law and how they relate to estate planning.