HGA 3-Minute Update!

Bill 22: What this means for your current estate planning

Recent changes in Estate Law have impacted the ability of Albertans to alter beneficiary designations associated with benefit plans. Prior to the changes, beneficiary designations imbedded in insurance or other benefit plans did not follow conversions or transfers of those plans. This meant that if a designated plan is converted into another format or transferred to another institution, the beneficiary of that plan must be re-designated.

This created problems for an incapacitated person with an attorney or trustee acting on their behalf. It was previously unclear whether that attorney or trustee had the ability to re-designate a beneficiary under such plans, and institutions adopted their own policies which were often not consistent across the board. The new legislation has rectified this uncertainty, and now provides that an attorney or trustee can re-designate (but cannot change or revoke) existing beneficiaries under converted, renewed or transferred plans.

A member of the legal team at HGA Law would be happy to review your current estate planning documents and to explain the benefits and drawbacks of Bill 22 and how that may impact your estate.

Do you still keep your accounting up to date manually?
Keeping your day-to-day accounting records up to date is crucial to a company’s overall financial success. Why not automate your bookkeeping process and utilize the technologies available to enhance your efficiency and accuracy?

With ever-improving accounting software solutions such as Quickbooks Online, there are numerous ways HGA can help you improve your accounting processes Take advantage of features like project tracking, automated bank feeds, payroll reporting, budgeting and more.

Worried about the transition or just want to know more about how we can help? Consult with your HGA Advisors and let’s talk about your business and how we can help.

Beat the work-from-home blues: Here are 3 ways to help!

Take time for you, even at home! Write REST in blocks in your calendar throughout the week and honor those blocks of time. Step away from all of your devices and give yourself a mental break.
Build and maintain your support networks: Don't isolate yourself more than you have to. Schedule regular Zoom calls with staff, family, and friends.
Celebrate your successes, big or small: It is important to give and receive appreciation in order to fuel dopamine levels that allow us to focus on challenging goals. Be easy on yourself and offer generous praise to others.

HGA Highlight: Black Heron Gym

Have you had a chance to visit the Private Training space downstairs here at the Ikonic Centre? The Black Heron Gym is a private personal training studio that offers some amazing personal trainers focused on multiple areas of expertise.

From diet and lifestyle coaching to golf programming, the Black Heron team can provide customized programs and solutions for what you need. If you'd like to learn more, following them on social media at @blackheronyeg or give them a call at (780) 903-5638.

Click here to visit Black Heron on Facebook

Grey Street Media: 4 Ways Businesses Are Capitalizing on the Shift to Online

1. Utilize video: Have you reduced some of your in-person activities? Turn to online video events or videos online to market yourself and your products. Don't stop connecting with your customers!
2. Offer the essentials online: Who knew that this many businesses wouldn't need a brick & mortar? Provide what essential services you can online to make your business accessible to all.
3. Find a partner: Consider bundling or joining forces with another local business. There is no better time for us all to band together for the greater good of all local businesses!
4. Get it to go: Curbside pick-up? Contactless?Consumers have changed the way they shop. It doesn't have to be fancy! Make your goods and services as accessible as possible.

Read these points in more detail on the Grey Street Media blog.

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