Financial Advisor, Estate Planning, Insurance, Mortgage Broker and Loan Referral Services.
Peter J. Merrick, BA, FMA, CFP,TEP, FCSI, is President of MerrickWealth.com , a fee-for-services Certified Financial Planner and executive benefit advisory firm in Toronto, Canada. His consulting work involves creating executive and employee benefits that meet the requirements set in the Canadian/US Tax Treaty, ERISA standards and CAP guidelines. Peter is a professor of financial planning and group benefits, the author of two books, “The Essential Individual Pension Plan Handbook” (Lexisnexis CDA, 2007) and “The TASK – The Trusted Advisor’s Survival Kit” (Lexisnexis, 2009) and was a presenter at the prestigious Canadian Institute of Chartered Accountants 2007 National Conference on Income Taxes. Peter can be contacted at 416.854.1776 or peter@merrickwealth.com
A few years ago I had a conversation with a 90 year old gentleman that held an annuity plan that paid 17% per year on his investment. Each year the insurance company that issued the annuity requested proof that he was still alive because they wanted to stop payments. When I asked why he had [...]
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As an owner of an incorporated business whose dependent(s) have been diagnosed as having a developmental disability, you can make business tax deductions for expenses that are related to the developmental disability through utilizing the Health & Welfare Trust Solution. Are you aware of this tax solution? Have your professional advisors told you about this [...]
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Canadians are aging. Canadian entrepreneurs are aging even faster. Over the next 15 years more than half of the country’s small and medium sized family business owners are expected to retire. According to studies by the Canadian Federation of Independent Business (CFIB), Canadian family business owners are generally not adequately prepared for the business succession [...]
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Avoid being negligent as your client’s trusted advisor for not investigating the registered disability savings plan (RDSP) as a viable program to assist clients and their family members in need. If you don’t know much about the RDSP option fortunately it is not too late to learn about it and help your clients who will [...]
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Some time ago I received an e-mail from the chief financial officer of a New York-based software company that had just bought a Canadian firm with 200 employees. They were asking for a resource to set up an equivalent to the 401k plan for their new Canadian workforce. The Canadian equivalent to the 401k is [...]
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Western economies are susceptible to recessions approximately every 15 years. While most Canadians will never face a bigger debt in their lifetime than their mortgage payment which can span over a 20 to 25 year period, they are rarely provided with strategies that will lessen this burden. As economic times change from good to recession [...]
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In 2003, more than $121 billion was spent for health care in Canada, with 70% of these costs paid for by the publicly funded system. Corporate Canada and individuals picked up the remaining 30%, according to the Canadian Institute for Health Information and Statistics Canada. Health care cost and demand will only keep growing as [...]
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A Health Spending Account (HSA) is a bank account whose deposits are spent exclusively on healthcare expenses, it is a means for both individuals and corporations to control their healthcare expenses in a tax effective manner.
“The Numbers Speak For Themselves…”
Imagine a business owner who earns $100,000 of net income this year, who incurs $10,000 worth [...]
In early 2007, Ian Wright, a lawyer and partner at Scott, Petrie, Brander, Walters & Wright LLP, in London, Ontario approached our firm with an insightful query. Ian, an employment lawyer, believed that the way employee benefits had been valued by legal counsel across Canada over the decades was inadequate. He intuitively knew that the methodology [...]
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Some time ago at a financial education workshop, a 62-year-old executive vice-president shared his story. He was placing his retirement on hold because the value of his corporate-sponsored retirement plans — in which most of his retirement savings were invested — had drastically dropped as a result of a meltdown in stock market.
In recent years, [...]
My husband died at the age of 59 may 24 2003
I was 57...I am 64 now
My income is 30,000
Have I ...
I was wondering my step aunty is POA for my dad and he has passed away is the POA responsible ...
After reading this, I was not too impressed with the way my mortgage renewal went! It so happens that ...
Having executed a will in accordance with all requirements what are the provisions for 'winding up ' the operation? Is ...
Correction to my posting I was under 35 years old (31 to be precise)
My husband passed away 28 years ago, I was under 25 at the time and was told I was not ...
Will I receive my old age pension if I move out of the country.
I also get CPP. 
I just sat reading most of the comments on CPP and OAP pensions. I find most of these very ...
Hi
I am getting 65 years and entitled for CPP and Old Age Security but my wife is only 59 years ...
My wife has never worked outside of the home. When she reaches 65 will she be entitled to OAS ...
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