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Welcome to the new Fiscal Agents monthly newsletter!
We know it's been a while since our last edition - and you may wonder why? We don't have an expansive story to relate, only to say we've been busy building out, testing production and security of our Statement and Income planner software, the MoneyGuide Deposit Tracker (more on that below). The disruptive nature of Covid-19 is still plaguing Canada, as you're aware and has impacted reliability and productivity within the banking systems. Certain institutions have experienced internal disruptions coupled with postal delivery, causing delayed interest or certificate confirmations. Meanwhile, our staff have been intermittently working from their homes without much disturbance to our process. We hope to bring newsworthy items of interest to this publication, not all just talking about money, a cartoon that may poke fun at it and a snapshot of current interest rates.
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| Our Best Rates (as of 15/10/2021) | | Good Reads | | Ontario’s new probate process for small estates is easier The Ontario government’s simplified probate process for estates valued at $150,000 or less will make administering small estates less costly and easier for estate trustees (as executors are known in Ontario), estate practitioners say. Probate, known as estate administration tax in Ontario, is the process whereby a court validates a will and confirms the executor’s authority to administer the estate. While not all wills need to be probated, banks and other financial institutions generally don’t release money held in the deceased’s accounts until the executor obtains probate.
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| | New surveys highlight discrepancies in retirement readiness About a third (36 per cent) of working Canadians and 21 per cent of retirees aren’t confident how much money their retirement income sources will provide them in the future, according to a new survey by Mackenzie Investments. Fortunately, a majority (79 per cent) of retirees said they’re very or somewhat confident their retirement income sources will provide them with enough money for retirement, while 57 per cent of those who are still working said they expect to continue doing so in retirement. More than half (57 per cent of working Canadians and 51 per cent of retirees) said they’re either very or somewhat concerned about market volatility when it comes to their retirement savings.
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| Our Featured Free Publication | | Planning for your children's future In today's hectic world, planning plays an important role in the way we live our lives. From major decisions to relatively minor issues, planning is what makes our lives run smoothly. We often put off tackling the chore of making the most important choices: Planning for our future and the futures of our children.
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| All about: The MoneyGuide Deposit Tracker | | Presenting the MoneyGuide Deposit Tracker, Statement and Interest Income Planner Our rollout of our all-new MoneyGuide Deposit Tracker statement is underway, providing clients with a clearer understanding of where your investments are heading, and much more. Many of our clients have received the new account statements within the last few months, and we're proud of the glowing comments on the new layout we've received that talk to its readability, charts with illustrative graphs, and product segmentation. The laddering profile detailing the Maturities by Year helped with future cash flow requirements with liquidity and access to principal amounts. You can check out these features and benefits in more detail on our website.
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