Education

Client collapses trust to fund daughter’s education

Elsa Koertig, 48, is a single mom and schoolteacher in Moose Jaw, Sask. She earns $65,000 annually and her daughter Ingrid is heading to university. Ingrid’s straight As and clean sweep of provincial and national science fairs caught the attention of Ivy League schools, and her heart’s set on Princeton. She’s earned generous scholarships, but even after factoring in RESPs, the family faces a $10,000 annual shortfall. Elsa’s coming off a messy divorce and is saddled with mortgage, car and other debt payments. But if she could access the $100,000 stock-and-bond portfolio her deceased parents left her in trust, she’d be able to send Ingrid to Princeton. Elsa’s foggy on the details. She knows how much is in the trust, and remembers her parents saying they wanted it to fund her retirement. Can she tap the trust sooner?

By Dean DiSpalatro |March 7, 2014

4 min read

Economic Indicators

Are Gen X and Y too confident about finance?

Members of Gen X and Gen Y exude a sense of confidence about achieving key financial goals despite the obstacles they're facing, shows a report by BMO’s Wealth Institute.

By Staff |February 7, 2014

2 min read

Planning and Advice

Canada gets new wealth management designation

The Canadian Securities Institute and the Association of International Wealth Management, are bringing the Certified International Wealth Manager (CIWM) designation to Canada.

By Staff |February 5, 2014

1 min read

Economic Indicators

Mom and dad, send money!

By Thanksgiving, 47% of students at college or university had already asked their parents for money to help their day-to-day finances, shows a CIBC poll.

By Staff |December 13, 2013

2 min read

Parents want ROI from education spending

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Client collapses trust to fund daughter’s education

Are Gen X and Y too confident about finance?

Canada gets new wealth management designation

Mom and dad, send money!

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Raise minimum wage to $14, say students