Against a rainy day

Article Abstract:

Being well-prepared for a financial crisis can help individuals and businesses protect their assets from creditors. One important part of the planning process is knowing which asset protection strategies are legal and which ones are illegal. Canadian laws acknowledge both the need of creditors to recover their losses and the desire of individuals to protect their assets. Although the division between these two conflicting needs sometimes become blurred, debtors must ensure that they are complying with applicable federal and provincial statutes. Some of these statutes are discussed.

Canada, Laws, regulations and rules, Protection and preservation, Debtor and creditor, Assets (Accounting)

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Shut up and listen

Article Abstract:

Financial planners should accumulate and understand personal as well as financial information about their clients. An effective method for obtaining this information is presenting clients with a complete questionnaire that identifies how they feel about their finances. Effective personal financial planning involves understanding clients' goals for their futures and providing suitable advice towards attaining these goals. A knowledge of accounting methods and procedures is not sufficient to maintain solid financial planner-client relations.

Investment advice, Planning, Personal finance, Practice, Financial planners

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Parental guidance

Article Abstract:

The responsibilty of handling financial management decisions of senior citizens normally falls on the shoulders of their children. As financial management preparations can prove to be tedious, now is the appropriate time to assist parents on the future of their financial holdings. Keeping a record of bank accounts, stocks and personal property descriptions is a start. Other ways of financial planning include the wise investment of monetary assets and keeping account of payments covering monthly expenses.

Aged, Elderly, Finance

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