Having a child is one of the happiest events in life. However, it brings new responsibilities and numerous concerns. Will you be able to meet the needs of your child, ensure his/her security and do what is best for him/her?

The following sections offer some tips to help you re-assess your budget and your future expenditures so that you can provide your child and your family with the financial resources necessary for their well-being.

• Re-evaluating Your Insurance Coverage: Raising a child comes with financial responsibilities for you and/or your partner. To ensure the financial security of your family in the event something unfortunate were to happen to you, there are several types of life insurance and living benefits available to protect them.
• Saving For Your Child’s Education: Consider a Registered Education Savings Plan (RESP) to save money towards financing your children’s post-secondary studies. Investments in an RESP will grow tax sheltered, and could also benefit from generous government grants or bond. There are several different investment options available on the market, we can help guide you towards the most appropriate choice based on your needs.
• Revising or Writing Your Will: When you have your first child, it is important to have a will in place so they are properly provided for. If you don’t have a will, it is recommended that you draw one up as soon as possible. Be sure to name a legal guardian for your child so that if something happens, he or she will be raised by the person of your choice. Speak to your legal advisor.

Challenges related to finance will become apparent over time. Why not sort it out right from the beginning? Contact us, see how we can help.