Life Buzz - Life insurance newspaper in Canada

  LifeBuzz Inheritance and End-of-Life Matters news clarifies what probate in Canada includes, including when it is required, and situations where a deceased owned assets solely in their name, such as bank accounts, non-registered investment accounts, and individually owned real estate, which cannot be transferred until the court grants the executor the necessary authority. Understanding what probate in Canada is helps families recognize when institutions or third parties may require validation of an executor's authority with banks, mortgage companies, or brokers, especially for larger accounts. What is Probate in Canada: Process, Fees, and How To Plan #LifeBuzz #WhatIsProbateInCanada #InheritanceAndEndOfLifeMattersNews #ProbateRequirements #EstateAdministration 

  LifeBuzz Retirement news outlines how to calculate your CPP Post-Retirement Benefit (PRB), starting with eligibility: Canadians aged 60-70 who are already receiving CPP or QPP pension while working and actively contributing new funds into the system, including self-employed Canadians contributing both employee and employer CPP premium portions. Understanding how to calculate your CPP Post-Retirement Benefit (PRB) through qualification criteria helps working seniors recognize that they must meet the age range for early CPP withdrawals (up to age 70), when contributions cease, pension receipt status from the Canada Pension Plan or the Quebec Pension Plan, and employment with ongoing CPP payments. How to Calculate Your CPP Post-Retirement Benefit (PRB) #LifeBuzz #CalculateYourCPPPostRetirementBenefitPRB #RetirementNews #CPPEligibility #WorkingSeniors

  LifeBuzz Inheritance and End-of-Life Matters news identifies three scenarios where what happens to your debt when you die includes legal transfer to surviving loved ones: joint debts like mortgages, car loans or credit cards with a co-borrower remaining responsible for the outstanding balance even after death; and secured debts like mortgages and car loans staying with the asset where beneficiaries inheriting property acquire debt as well. Understanding what happens to your debt when you die for transferable debts helps Canadians recognize that, in all other cases, unpaid debts die with the deceased and can't be transferred to loved ones, with creditors only collecting from the estate. What Happens To Your Debt When You Die in Canada? #LifeBuzz #WhatHappensToYourDebtWhenYouDie #InheritanceAndEndOfLifeMattersNews #JointDebts #CoSignedLoans

  LifeBuzz Canada Resources news distinguishes two types of SIN numbers: a permanent SIN issued to Canadian citizens and permanent residents, which never expires and keeps the same number for life. In contrast, a temporary SIN issued to foreign workers and international students begins with the number "9". It expires based on the end date of the work or study permit in Canada, requiring renewal when applying for permit extensions. Understanding the update and renewal requirements for different SIN types helps Canadians recognize that permanent residents and citizens are unlikely to need to renew their SINs unless they experience a legal name change or a gender designation update. How to Update and Renew SIN Number #LifeBuzz #UpdateAndRenewSINNumber #CanadaResourcesNews #PermanentSIN #TemporarySIN

  LifeBuzz Canada Resources news defines Canadian transit numbers, also known as branch numbers, as unique 5-digit codes identifying specific bank branches where accounts were opened, with the key purpose of facilitating the efficient processing of financial payments within Canada through the combination of a transit number identifying the branch, an institution number identifying the bank, and an account number identifying the individual account. Understanding Canadian transit number structure helps Canadians recognize transit and institution numbers together form routing numbers as nine-digit codes guiding payments to the right financial institutions and branches, with transit codes specifically pinpointing exact branches, ensuring transactions are transmitted to the correct destinations. Canadian Transit Number: What It Is & How To Find Yours #LifeBuzz #CanadianTransitNumber #CanadaResourcesNews #BranchCodes #RoutingNumbers

  LifeBuzz Canada Resources news defines Canadian bank institution numbers as unique 3-digit numeric codes assigned to any bank, credit union, trust company or other financial service provider operating in Canada, exclusively identifying each financial institution to ensure money moves accurately between institutions by properly routing funds to the correct banks. Understanding the fundamentals of institution numbers helps Canadians recognize that these codes serve essential functions, including proper routing details for direct deposit for payroll, pensions, or government benefits; wire transfers for sending and receiving domestic and international wires; bill payments for utilities, loans, and insurance; and supporting strategic rate planning. Canadian Bank Institution Numbers: A Simple Guide for 2025 #LifeBuzz #CanadianBankInstitutionNumbers #CanadaResourcesNews #FinancialCodes #PaymentRouting