The Globe and Mail, Joel Schlesinger While broaching the subject with clients can be tricky for advisors as they run the risk of appearing opportunistic, discussing life insurance has more merit than ever before, says Cynthia Kett, principal at Stewart & Kett Financial Advisors Inc. in Toronto. “I probably bring [insurance] up pretty close to
The Globe and Mail, Content from: Randall Anthony Communications A principal of Stewart & Kett Financial Advisors, Ms. Kett says there are many estate-planning strategies to simultaneously benefit individuals and the Foundation. Examples include giving gifts of shares with unrealized capital gains, life insurance and, in some circumstances, registered accounts like registered retirement savings plans
The Globe and Mail, Joel Schlesinger Most Canadians understand how term life insurance protects their families. However, financial advisors can find themselves with much explaining to do around using permanent life insurance as a financial and estate planning tool. Still, permanent life insurance is a big financial commitment compared to term insurance. Cynthia Kett, principal
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
The Globe and Mail, Pawel Dwulit While people sometimes leave advisors because of low performance or high fees, more often it’s because of lack of service or attention. “I would say that it’s time to move on when clients no longer trust their advisor or when their needs change,” says Ms. Kett. “An advisor who
