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Getting your financial affairs in order is critical, no matter your age. 

But estate planning becomes even more important as soon as you have kids.

If you’re in the process of getting your financial affairs in order, you be wondering what estate planning actually is and if you need it. That’s exactly what I’m going to cover in this post.

Keep reading for a story about my mom’s estate planning dilemma and why the emotional side of estate planning matters as much as the tactical side.

It’s critical to understand your money mindset because it will influence all your decisions around money, whether you’re aware of it or not.

Your money mindset is made up of your cornerstone beliefs about money.

It influences everything you do and don’t do with money, such as spending, saving, building up debt, buying a home, and investing. 

Keep reading to find out the 11 key strategies you can use to improve your money mindset.

Money blocks usually develop when you are young and impressionable. They are things you learn and subconsciously take for granted. You believe them to be an absolute truth. 

I’ve been obsessed with the concept of limiting beliefs since I was a kid.

I would observe how different people would react to the same situation. I was curious why some people seemed programmed to respond a certain way while others were not.

I didn’t know the concept of “limiting beliefs,” but I could recognize patterns in people’s reactions based on their life experiences.

It wasn’t until I started meditating that I understood my own limiting beliefs and started to…

If you have minor children and are without an estate plan, the court decides who becomes the legal guardian of your children.

Over the course of many years, I’ve transformed my money mindset, allowing me to create the life I desire. And I know that you can do this too!

In this post, I’ll cover the practical steps you can take to change the way you think about making and managing your money.

Keep reading to find out the one key superpower that is essential for a great money mindset.

Is there a limit to how much money I can put in a trust? In Canada, there is no legal limit on how much money or how many assets you can place into a trust. The amount is not capped, but tax rules apply when assets are transferred into the trust.

In Canada, most personal trusts, such as family trusts, are subject to a 21-year deemed disposition rule under the Income Tax Act. The 21-year rule means that the trust is deemed to have sold its assets after 21 years. This can trigger capital gains tax unless assets are distributed or other planning is done.

I was recently speaking with clients who decided to use a trust as part of their estate plan. I want to share a little bit about why a trust worked for them so you can see if any of their goals and concerns align with yours.  This couple has a high net worth, multiple real estate properties, and investment portfolios. They want to pass their assets to their two daughters and future grandchildren.  Their goal was to transfer some of their wealth while they were alive and have a plan for how the rest of the assets would be distributed after their death. They chose to use a trust to retain control over when and how the assets are distributed…

The main reason to avoid a trust is if your estate is simple. You don’t benefit from the added costs and complexities if your estate is simple. In addition, if you don’t want to lose control of the assets, then a trust may not be a fit for you.

Who legally owns the assets held in a trust?
The trustee holds legal title to and control over the trust assets. However, the trustee must exercise this authority in accordance with the terms of the trust deed. The trustee has a fiduciary responsibility to act in the best interests of the beneficiaries. The BC Trustee Act outlines the strict rules trustees must adhere to within the province.

Manifesting money isn’t just about wishing for wealth.

It’s a deliberate process that involves setting clear intentions and aligning your mindset with your financial goals. 

In this post, I’ll cover 5 steps to help you set your intentions effectively and attract abundance.

I recently worked with a woman in her 80s who had more than enough money to comfortably support her lifestyle for the rest of her life.

She was considering moving to a place she loved, closer to family and a community that shared her values. The hesitation she had wasn’t financial capacity. Instead, it was tax-related.

In this post, I’m going to share what you need to know about living trusts from both a technical and mindset perspective.