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Winnipeg Free Press Newspaper Archive: February 15, 2001 - Page 83

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Publication: Winnipeg Free Press

Location: Winnipeg, Manitoba

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   Winnipeg Free Press (Newspaper) - February 15, 2001, Winnipeg, Manitoba                                The Jewish Post ft News Financial Guide 2001 13 Unlimited Internet as low as Call 3344946 Inheriting uncle SOP We have an uncle living In the who has Inherited about from a Canadian estate after his mother He would like to give part of that money to some of the other family members who are not involved In the to keep the peace In the I would like to know what the tax Implications are for a resident Inheriting from a Canadian Money inherited from a Canadian is usually received free of taxes beifelialal or she resides The yyhen your a Gift tax is intended to tax the movement of capital out of an estatewhich to estate taxes time of v V Your uncle could consider a couple of methods of avoiding gift First Wcbut hts inheritance M By not accepting 1trthese funds would be distributee to other beneficiarief the Will those haveibenefited if your uncle had predeceased if your uncle renounces his right the the next In line to If his mother hap intended funds to uncle was riotalive atthetime of her by refiouncing his inheritance be paid by the estate to the v This may or may not put the moneyintb the right handsvif not hi a Canadian person not subject to gift tafcesrrthat person could give of the inheritance over ai numberof of per individual peryear This can be doubled to agrees to use her exemption as welL And unlimited gifts can be made for educational or medical lending money at favourable interest aric the loan at the fate of per he could provide extra His willto those he to share y PRIVATE CLIENT GROUP Private Investment Counsel provides discretionary investment managed for over clients nation ally with over billion in assests Our Winnipeg which serves Central has four professional service supported by two client service We offer a very competitive and value added invest ment management service for high net worth indi associations and estates and Please call us directly at 9856033 or toll free at 1 8888105998 or ask your local TD Canada Trust rep resentative for more RICK CFA Regional Investment Counselling Private Investment a division of TD Asset Management 230 Portage Avenue 2nd Floor Phone Fax Toll Free Email Manitoba R3C2S6 riffel.rick@canadatrust.com Outlook Financial provides best fingertip banking By MYRON LOVE The internet and other forms of technology have greatly expanded the number of ways you can do your For those who dont have the time to get to the local bank branch during the day or the patience to stand in a service such as the Assiniboine Credit Unions Outlook Financial is a great Outlook Financial is a virtual There are no All transac tions are done by Canada Post the The lack of a branch network means lower overhead for the company and translates into higher interest rates for the An article in Chatelaine recently cited Outlook Financials interest on sav ings accounts as the highest in the country and it the best sav ings The company also of fers up to 6 on GICs and up to 7 on escalator For those with qualms about deal ing with an invisible rest assured that the parent company Assiniboine Credit Union is one of Canadas most respected coops and that all deposits are 100 guaran teed by the Credit Union Deposit Guarantee To receive an introductory Out look Financial you can phone 9587333 or dial To open your account complete the mem ber application and deposit form and send them along with a cheque made out to Outlook If you want an RRSP print out and complete the Retirement Savings Plan Application and send it along with your By return mail you will receive a Welcome Kit containing your member a guide to accessing and managing account by over the internet and with your member and deposit forms and return Youll also receive a security enve lope with your for your member When you receive the security call Outlook to have your electronic access to your accounts At Outlook Financial they make it easy for you to manage your ac Deposits can be made through the mail or by direct deposit of payroll or government cheques to your savings account or by automatic depositfrom any other financial Withdrawals can be made by or direct paymentthrough or through Outlook members can keep track of their investments by member or the You can pay your bills by phone or All your investment prod ucts will appear under one account Statements are issued semi however statement infor mation is available at all times by phone or Outlooks internet banking ena bles members to view their account transactions and print them out at as the article in Chatelaine its time to get with the times and get with the new world of bank   

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