The Globe and Mail, Joel Schlesinger Cynthia Kett, a certified financial planner and CPA, says “giving” shares to children who are not adults by law is tricky. “Children under the age of majority can’t hold shares in their own name because they lack legal capacity to [enter into a] contract,” says Ms. Kett, a trust
The Globe and Mail, Kira Vermond “Wealth is a factor of not only how much you make, but how much you keep,” says Cynthia Kett, an advice-only financial advisor and principal at Stewart & Kett Financial Advisors Inc., in Toronto. When couples visit her office, she makes a point of involving the woman in every
The Globe and Mail, Chris Atchison Because lawsuits exceeding $2-million are commonplace nowadays, even less-wealthy individuals need substantial personal liability coverage, says Cynthia Kett, principal at Toronto’s Stewart & Kett Financial Advisors Inc. She advises her high-net-worth clients to carry umbrella liability policies, but she stresses that the amount of coverage doesn’t need to correlate
The Globe and Mail, Dale Jackson Ownership has advantages, but it also has risks. Cynthia Kett from Toronto-based Stewart & Kett Financial Advisors Inc. says much of that market risk is offset by the company’s contribution. A four-to-one share plan, for example, can be considered a 25-per-cent guaranteed gain before the shares even trade. Read
The Globe and Mail, Joel Schlesinger The math is simple. The more money you make, the more taxes you pay. Among the manoeuvres under review is “income sprinkling,” whereby earnings from the corporation are split among the business owner, a spouse and adult children to reduce the overall tax burden. One advantage that will remain
Certified financial planner Cynthia Kett advises clients to do a checkup on their finances at least once a year to ensure they’re on track with their goals.
January is often a good time to conduct a budget review because you’ll have the benefit of the full year’s receipts and expenses, she says.
The Globe and Mail, Kira Vermond The big push is on to convince Canadians to load their extra cash into registered retirement savings plan (RRSP) investments before the Mar. 3 deadline. But though it may seem as though contributing is the only option when it comes time to decide what to do with the money,
The Globe and Mail, JOEL SCHLESINGER Eleanor lives in a nice neighbourhood in Toronto in a heritage home that is a gold mine of equity. Yet that wealth is out of reach for the 67-year-old, single retiree, and she now wonders whether she should sell it to capitalize on its $750,000 of equity. “I get
