613-283-5510 info@pankow.ca

Independent, objective, and unbiased advice isn’t easy to find in today’s financial marketplace. Most advisors you could meet with work for a financial institution, and have an obligation to recommend products produced by that institution.

We are different.

We are a financial planning and investment advisory firm specializing in finding our clients the right solution to their financial, retirement, estate and investment planning needs. As we are not employed by a financial institution, we are able to be independent and unbiased in arranging for our clients the best plan for their insurance or investment needs

 

We draw on decades of wisdom and experience in drafting individualized, customized plans designed to guide our clients to the achievement of their goals. We are associated with the Wealth and Insurance Solutions Enterprise (within Freedom 55 Financial, a division of London Life Insurance Company), a specialized segment of advisors focused on meeting the complex needs of affluent Canadians.

There are literally thousands of investment funds available in Canada. We do daily research through a variety of sources so we can provide our clients with the information, options and insights they need to make the best decisions regarding their investment portfolios. We are able to source dozens of banks, trust companies and credit unions in an effort to find our clients the most competitive GIC rates, and utilize Canada’s leading life insurance companies to ensure we can tailor the most appropriate insurance products for our clients’ financial security needs.

Call us today for a personal consultation – 613-283-5510

WHAT WE OFFER
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Investment Services

Whether your objectives are preservation of wealth or building your future nest egg, Pankow Financial is here to help you. Especially if you don’t have an investment strategy yet, we can help you get started on your way to future financial stability. (Read more)

Planning Services

If you are currently retired or years away, reviewing your plan regularly makes sure all things are on track. With the ever-changing investment options and tax laws planning for retirement requires monitoring and regular updates to be sure you’re on top of things. (Read more)

Insurance Planning

We know that life insurance can provide some unique and valuable financial benefits, especially for those with dependents to support. It is often the best way to insure that your loved ones will be financially stable should you die prematurely. (Read more)

RECENT NEWS
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The responsibilities of an executor are both demanding and difficult. For most executors, their "on the job" training is the only experience they have in dealing with the challenges of their role.

One of the key responsibilities is filing the deceased's terminal tax return and paying all outstanding taxes.

One opportunity not frequently leveraged is the opportunity to make a RRSP contribution after death in order to reduce the taxes otherwise payable from the estate.

Although an executor cannot contribute to the RRSP of someone deceased, the executor can contribute to a spousal RRSP and enable the estate to get the tax deduction.

Considering the possibility of additional income taxes the year of death, and considering the limited window of opportunity to reduce or eliminate those taxes, this is a strategy that can save the estate tens of thousands of dollars in tax.

We start accumulating RRSP room once we start working. As many Canadians cannot afford to maximize their annual contributions to their retirement savings, Canada Revenue Agency allows us to carry forward all unused RRSP room. After years of carry forward, it is not uncommon for people to have contribution room in excess of $100,000.

Executors can make the spousal RRSP contribution the year of death, or up to 60 days after the year of death, thereby creating a tax deduction against other income earned.

Professional advise may be needed to maximize the benefit of this strategy but it is something that should be considered when the opportunity is available.
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