By Rosalyn Wilson, BA
Here is a list of articles I found most interesting this past week:
1. Mom’s in a nursing home; can we sell her house and divide the money? Uh, no. Five daft siblings ask a lawyer about splitting their mom’s estate before she passes. Great, informative rebuttal from the lawyer follows.
2. RRIFs and LIFs: Everything You Wanted to Know Financial author Gordon Pape explains the major differences in RRSP’s, RRIF’s, and LIF’s in layman’s terms. Be sure to check all [short] five pages as he bridges into a Q&A that puts the best uses of each fund into practical situations.
3. The goal of life The generally world-weary Garth Turner becomes uncharacteristically sentimental about reader Pearl’s family. He explains the material consequences of being painfully risk-averse. He encourages her to boost her parents’ confidence (and savings rates) in very safe investments with rates that will at least account for inflation and hopefully result in incremental growth as well.
4. Is your business ready to move on without you? Jacoline Loewen asks three simple, yet telling questions to determine whether your business can continue successfully when you are no longer in the picture. A refreshing article offering practical advice in answer to a myriad of succession queries.
5. Seniors’ divorce takes financial toll and mostly on women, according to Financial Post columnist Gary Marr. He describes the financial fall-out when marriages break up, especially regarding RRIF’s, explaining how income can drop for one party, while taxes jump for the other.