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Take control of your financial destiny with great insights, tips and advice from Senior Financial Planners Rob McClelland and Mike Connon at The McClelland Financial Group of Assante Capital Management Ltd.
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Thursday Nov 02, 2023
Thursday Nov 02, 2023
When it comes to financial decision-making, "cutting off your nose to spite your face " is not always the best tactic. Senior Financial Advisors Rob McClelland and Mike Connon discuss the common mistakes people make in their financial planning, such as trying to avoid probate by setting up complex structures that are more expensive than the probate fees themselves. They also discuss the potential pitfalls of transferring assets directly to children, joint ownership of accounts, gifting assets, setting up trusts, and creating overly complex wills.
(01:40): Mistakes people make to avoid probate
(02:34): How to deal with a vacation property or cottage?
(03:36): Doing it wrong
(06:10): Issues with joint ownership
(07:42): Setting up a trust
(09:03): Beneficiaries
(11:10): The number one mistake made with Wills
(12:41): Setting up a company- does it make sense?
(13:40): Overly complex Wills
(02:34): How to deal with a vacation property or cottage?
(03:36): Doing it wrong
(06:10): Issues with joint ownership
(07:42): Setting up a trust
(09:03): Beneficiaries
(11:10): The number one mistake made with Wills
(12:41): Setting up a company- does it make sense?
(13:40): Overly complex Wills
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