You may have been advised to transfer your Individual Retirement Account to a Registered Retirement Savings Plan. This misguided advice is usually a terrible mistake! You may keep and maintain your IRA when you become a Steele Wealth Management client. There is no need to collapse your IRA. There is no need to transfer your IRA to an RRSP. Transferring your IRA to an RRSP is not necessarily in your best interest.

At Steele Wealth Management, we’re here to make estate planning a positive, life-affirming endeavour that leads to the preservation of your family values. Consider adding a Transfer on Death (TOD) agreement to your RJLU investment accounts as part of your overall cross-border estate plan. A TOD agreement is easy to implement and avoids the probate process.

Understanding the ins and outs of the various Social Security benefits is difficult enough for financial professionals who reside in the US and work with clients who have spent their entire working lives in the US. Those financial professionals who work with clients who have spent time working in both Canada and the US must surmount an even greater wall of understanding when it comes to Social Security benefits, as well as how these benefits interact with Canadian social benefits like the Canada Pension Plan (CPP) and Old Age Security (OAS).