|
Coleen Clark
Captus Press,
ISBN
978-1-55322-289-7
(2013)
Fully updated, Retirement and Estate Planning in
Canada, 3e provides a detailed examination of both retirement and
estate planning. The first part of the book deals with both the financial
decisions that individuals must make to prepare for their retirement as
well as the actions they will need to consider once they are in retirement.
Beginning with a review of the factors that affect these financial
decisions (personal taxation, in particular), Part I focuses on the
critical topics of government-sponsored pension plans,
employer-sponsored pension plans, Registered Retirement Savings Plans
and Retirement Income Options. Understanding these topics is essential
for readers planning for their retirement. Part II looks at the issues that surround estate
planning — the process of distributing family assets in an orderly and
tax-efficient manner. In addition to explaining the importance of
estate planning and knowing how to build an estate, issues discussed
within this part include wills, family law and power of attorney,
taxation at death, trusts and donations to charity. Part III rounds out Retirement and Estate
Planning in Canada, 3e with complete lists of acronyms, formulas,
and glossaries. To enrich learning and enhance the application of
concepts and principles to real-life situations, throughout the book,
readers will follow Margot and Craig, a fictional but typical family, as
they go through the retirement and estate planning process. The
realistic situations and decisions facing Margot and Craig within their
family life cycle introduce readers to retirement and estate planning in
a logical way.
Preface Introduction Part 1. Retirement
Planning Part 2. Estate
Planning. Part 3. Appendices Margot and Craig
and Others 1 Retirement
Planning 1
The Retirement Planning Process Introduction A. The Planning
Model B. Implementing the
Process Summary Margot and Craig Key Terms Questions and
Problems Appendix 1A:
Review of Time Value of Money 2
Factors Affecting Retirement Planning . Introduction A. Longevity B. Inflation C. Rates of Return D. Income Tax Summary Discounting and
Compounding Rules Sources — Taxation Key Terms Questions and
Problems Appendix 2A:
Review of Investment Basics Appendix 2B:
Taxation for Provinces and Territories 3
Government Pension Plans A. Introduction to
Canada’s Retirement Income System B. Canada Pension
Plan (CPP) C. Old Age Security
Program (OAS) D. Taxation of CPP
Contributions and Retirement
Pension E. Effect of
Government Pensions on Retirement Savings Required Summary Sources Key Terms Questions and
Problems 4
Registered Pension Plans (RPPs) Introduction A. Types of
Registered Pension Plans B. Setting Up a
Registered Pension Plan C. Features of
Registered Pension Plans D. Types of
Benefits E. Eligibility for
Retirement Summary Sources Key Terms Questions 5
Pension Adjustment (PA) and Other Pension Plans Introduction A. Pension
Adjustment and its Effect on RRSP Contributions B. Profit Sharing
Plans C. Other Types of
Plans D. Taxation. Summary Sources Key Terms Questions 6
Registered Retirement Savings Plans and Other Savings Plans Introduction A. Features of
RRSPs B. Borrowing from
an RRSP C. Using Your RRSP
to Give Yourself a Mortgage D. Registered
Education Savings Plans (RESPs) E. Tax-Free Savings
Account (TFSA) F. Taxes on
Sheltered and Non-Sheltered Savings G. Pension Reform H. Registered
Disability Savings Plan (RDSP) Margot and Craig Summary Sources Key Terms Questions and
Problems 7
Retirement Income Options Introduction A. Transfer of
Registered Plans B. Retirement Fund
Options C. Non-Registered
Investments D. Demutualization
and Government Pensions E. Taxation of
Annuities Craig and Margot Summary Sources Key Terms Questions and
Problem Retirement
Planning Case Assignment The
Case — John and Rachel Whitney 2 Estate
Planning 8
Introduction to Estate Planning Introduction A. Estate Planning
Issues B. Planning at Retirement C. Margot and
Craig: Accumulating Assets D. Drawing Down
Retirement Assets Summary Margot and Craig Key Terms Problems 9
Family Law and Power of Attorney Introduction A. Family Law B. Power of Attorney
Summary Margot and Craig Sources Key Terms Questions 10
Disposing of Estate Assets Introduction A. Dying without a
Will — Dying Intestate B. Wills C. Executor D. Probate E. Business Assets Summary Margot and Craig Sources Key Terms Questions and
Problems 11
Taxation Issues Introduction A. Disposition of
Assets Owned for Personal Use B. Disposition of
Assets Used to Earn Income C. Transfer of
Assets to Spouse D. Non-Arm’s Length
Transfers and Income Attribution E. Deemed
Dispositions at Death F. Final Tax Return
G. Capital Gains
Exemption and Estate Freeze. Summary Sources Key Terms Questions and
Problems 12
Trusts, Donating to Charity, and U.S. Assets A. Trusts B. Trusts and
Taxation C. Donating to
Charity D. Life Insurance
to Pay Final Taxes E. Assets in the
United States Summary Sources Key Terms Questions and
Problems 3
Appendices . Acronyms, Tax
Rates and Time Value of Money Formula Acronyms Glossary of Tax and
Time Value of Money Terms Discounting and
Compounding Cash Flows Rates of Return Personal Income
Taxes. Time Value of
Money (TVM) Glossary
of Retirement Planning Terms Glossary
of Estate Planning Terms Index
For instructors teaching with the text, a manual, solutions to problems, and a test bank is available.
Coleen Clark, MBA, CFP, is an Associate Professor of Finance at Ryerson University. She developed the Financial Planning program at Ryerson and registered the program with the Financial Planners Standards Council so that Bachelor of Commerce graduates as well as graduates in the Certificate in Financial Planning can write the national Certified Financial Planner® examination. Before coming to Ryerson, Coleen had extensive experience in the private sector in music publishing, magazine publishing, manufacturing and as a consultant to small businesses. Both her first textbook, Retirement and Estate
Planning in Canada, and Risk Management and
Insurance in Canada are written to fill gaps in these fields by providing a
detailed overview of these areas. Written with her students’ professional
future in mind, both books also meet the educational requirements for CFP®
examination.
|
|||||||||
