Individuals in receipt of eligible pension income can allocate or split up to 50% of the income with their spouse or common-law partner, and the allocated income is reported as the spouse’s taxable income. This allows the shifting of income from a higher-income spouse to a lower-income spouse, enabling the couple to reduce their combined income tax liability and increase cash flow during retirement.
Why Have a Will?
A Will determines who controls your assets after death and also identifies the people to whom your estate and assets will go to. Preparing a Will is the simplest way to ensure that your funds and property will be distributed according to your wishes. The benefits of creating an online Will are as follows:
Over the past few years, the late King of Pop’s estate has been fraught with contention:
From the scuffle in front of the Jackson home to the appointment of the new Guardian of Michael Jackson’s children to Michael’s mother being kept from her grandchildren there has been a lot of Jackson family drama over the past few years. Click on the links in blue to read all about it.
What are some of the strangest Wills in recorded history?
If you’ve ever thought about estate planning and about the value of the assets you hold dear, you may want to read the following article on a millionaire with no dependents. Not only does this particular millionaire have no dependents, he left behind no Will in the wake of his death.
No doubt there will be thousands of “relatives” from around the globe, clamoring for his fortune.
Where will his assets go? Read on to find out: The Millionaire with no Will.
Are you a fan of Marvel Comics new hit Captain America: The Winter Soldier movie? If so, were you aware of an interesting tidbit concerning (the now deceased) Captain America writer, Mark Gruenwald and his lasting legacy?
Legendary radio host of American Top 40, Casey Kasem, passed away this past Father’s Day at the age of 82. Kasem suffered from both Parkinson’s and dementia and was taken off of life support at the behest of his children, who were following their father’s wishes.
You can also read about the tragic death of Martha Stewart’s late sister and her Living Will. If you have never reflected about the importance of having Living Will done, this article can give you pause for thought: Read More Here.
Remember the Rich Kids of Instagram controversy? Just as the name implies, the children of the rich and famous ruffled a few feathers a few years back when they posted photos of their lavish lifestyle all over the social media site.
English musician, Sting, however, is ensuring that his kids develop a healthy work ethic. He opened up in a candid interview about his plans for his children in the article below:
Following along in Sting’s footsteps is the late Philip Seymour Hoffman; read about what was left in his Will for his children in the following article: Philip Seymour Hoffman’s Estate.