Tax, investment and estate planning strategies for those age 65 and over.
There are many tax, investment and estate planning strategies available throughout an individual’s lifetime, but there are also some that are more relevant for seniors or that apply specifically to those age 65 and over. The following is a chart of commonly used strategies:
(Note: Any reference to “spouse” also includes a common-law partner.)
*Note: If you are a resident of Quebec, you will only be able to split life annuity payments from a registered pension plan for provincial tax purposes if you are 65 years of age or older.
The information provided is an overview of certain strategies and considerations, and may not necessarily apply to your individual situation or needs. To further discuss the details and to determine whether any of these, or other, strategies are suitable, it’s crucial to consult with your qualified tax and legal advisors to ensure your personal circumstances and goals are properly accounted for.
In Quebec, financial planning services are provided by RBC Wealth Management Financial Services Inc. which is licensed as a financial services firm in that province. In the rest of Canada, financial planning services are available through RBC Dominion Securities Inc.
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