Putting Financial Advice in the Picture: Parenthood (Insert Advisor name) (Insert Company)

Post Secondary Education Costs Please note the above costs do not include transportation, groceries, rent/residence fees, and miscellaneous expenses such as entertainment, clothing, communications, etc To account for inflation, future costs and income are estimated based on a 3% average inflation rate Source - (Government of Canada -

Post Graduate Costs Please note the above costs do not include transportation, groceries, rent/residence fees, and miscellaneous expenses such as entertainment, clothing, communications, etc To account for inflation, future costs and income are estimated based on a 3% average inflation rate Source - (Government of Canada -

Today’s Agenda Saving For Your Child’s Education  The Registered Educations Savings Plan (RESP)  The Canada Education Savings Grant (CESG)  Frequently asked questions  The Tax Free Savings Account (TFSA) Estate Planning, Insurance & Taxes

Saving For Your Child’s Education  Understanding RESPs and the CESG  What is an RESP?  What is the CESG?  The benefits

Saving For Your Child’s Education  The RESP Annual Contribution Limit  a thing of the past  The CESG Contribution Limit  Setting Up More Than One RESP

Frequently Asked Questions 1.Are there different types of RESPs I can invest in?  Family plans  Individual plans  Group/scholarship plans 2.What investment strategy should I use?

Frequently Asked Questions…cont. 3. I haven’t invested in an RESP yet, am I too late?  No, but don’t delay  Make catch-up contributions 4. What post-secondary institutions are eligible for RESPs?  Full-time studies  Part time programmes

Frequently Asked Questions…cont 5. What happens if they don’t go?  If under 21, beneficiary can be changed  If not, capital refundable, CESGs returned and income may be transferable to RRSP

Saving For Your Childs Education

Tax Free Savings Account (TFSA)  Supplement RESP savings  Contribute up to $1,500 a year  Carry-forwards allowed

Estate Planning, Life Insurance and Tax Changes Protecting Your Family

Estate Planning, Life Insurance and Tax Changes Life insurance should take care of:  Debts  Emergency fund  Costs related to your passing  Replace your income and... ** Education costs **

Estate Planning, Life Insurance and Tax Issues  Child Tax Credit  Universal Child Care Benefit  Children’s Arts and Fitness Tax Credits  Child care expenses  Who can claim the deduction?  You can deduct the lesser of: 2/3 of net income $7,000 per child under 7; $4,000 per child age 7-15

Estate Planning, Life Insurance and Tax Issues Child Tax Benefit  Varies by province, number of children, family income  Basic benefit: $1,405 a year per child  Third and additional kids: extra $98 per child  Reduced for higher income families ($42.7K +) National Child Benefit Supplement  For lower income families

Estate Planning, Life Insurance and Tax Issues Your Will  Must be valid and well structured  Name a guardian for your children  Complete a personal record keeper  Hire a competent lawyer

Your Will If you don’t have a Will … you die intestate Without a Will:  The court will appoint an executor  Assets will be distributed according to provincial law using a table of consanguinity, which determines the heirs  Spouse receives a preferential share  Remaining assets distributed per stirpes or per capita, depending on parent’s province of residence

Estate Planning, Life Insurance and Tax Issues Draft an unchallengeable Will  Obtain consensus  Use a qualified lawyer  Proof of mental capacity  Protect against claims of undue influence  Document gifts during life

Estate Planning, Life Insurance and Tax Issues Powers of Attorney  POA for Property  POA for Personal Care

Estate Planning, Life Insurance and Tax Issues Power of attorney for property  Covers matters related to property and finances  Must be a “continuing” power of attorney  Pay bills  Sign documents  Buy and sell investments

Estate Planning, Life Insurance and Tax Issues Power of attorney for personal care  Hospice care  Change of physicians  Use of experimental treatments  Nutrition  Use of ‘heroic measures’ to prolong life

Summary – Saving For Your Child’s Education FREE $$$$

RESPs Today vs. tomorrow… Don’t put it off for another year.

Let’s Get Started You can start today. Let’s book a meeting today.

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Important Information This publication is intended as a general source of information and should not be considered as estate, tax planning, personal investment or tax advice, nor should it be construed as being specific to an individual’s investment objectives, financial situation or particular needs. The information contained herein has been compiled from sources believed to be reliable however, information can change without notice and Dynamic Funds ® does not accept any responsibility for any loss or damage that results from any information contained herein. © Asset Management L.P. – All rights reserved. Reproduction in whole or in part of this content without the written consent of the copyright owner is forbidden. Snapshots TM and Dynamic Funds ® are trademarks of their owner used under license.