Keys To The Vault Podcast
Keys To The Vault Podcast
Podcast Description
Welcome to Keys to the Vault Podcast, your one-stop shop for wealth and tax planning with Whitney Hammond and Kelly Ross.
This podcast is designed specifically for women who have achieved success and face complex financial needs. We want to empower women with the knowledge and strategies to make informed decisions about your business and personal wealth. Every week, we dive into insights, strategies, and stories that help accomplished women take control of their financial future—unlocking the tools you need to build, grow, and protect your wealth. We build the fortress. You keep the keys!
Join the CEO of SWM, Whitney Hammond, Chartered Life Underwriter and Certified Financial Planner and CEO of Ross Professional Corporation Kelly Ross, Chartered Professional Accountant, as they build a movement of financially savvy women across Canada!
Podcast Insights
Content Themes
The podcast focuses on empowering women in financial matters, addressing complex financial needs, and offering strategies for personal and business wealth management. Example episodes explore topics like merging financial planning with tax strategy, building financial independence, and insights into the financial obstacles women commonly face.
Welcome to Keys to the Vault Podcast, your one-stop shop for wealth and tax planning with Whitney Hammond and Kelly Ross.
This podcast is designed specifically for women who have achieved success and face complex financial needs. We want to empower women with the knowledge and strategies to make informed decisions about your business and personal wealth. Every week, we dive into insights, strategies, and stories that help accomplished women take control of their financial future—unlocking the tools you need to build, grow, and protect your wealth. We build the fortress. You keep the keys!
Join the CEO of SWM, Whitney Hammond, Chartered Life Underwriter and Certified Financial Planner and CEO of Ross Professional Corporation Kelly Ross, Chartered Professional Accountant, as they build a movement of financially savvy women across Canada!
Episode Summary: Understanding Estate Taxes
The number one question I get in my practice is about estate taxes—and in this episode, Kelly and I break it all down. We cover:
What exactly the inheritance tax is (and isn’t)
Probate fees (Estate Administration Tax or EAT): the first $50,000 of your estate is taxed at 0.5%, and everything above that is taxed at 1.5%
How to reduce probate fees—a question I get all the time from clients
The role of beneficiaries and joint ownership (with a spouse or family members)—what you need to know, and the potential risks involved
For example, putting your home in your child’s name to avoid probate may disqualify them from first-time homebuyer benefits
It may also result in capital gains tax if that property is no longer considered their principal residence
We also dive into:
Why estate planning isn’t just about taxes—wills can be contested, assets may be frozen until probate is complete, and funeral costs can catch families off guard
The two taxes to be aware of at death: your final personal income tax return (T1 terminal return) and estate taxes
Why the wealthiest people buy life insurance as a strategic planning tool
The importance of working with a professional—this is not the time to rely on “advice” from friends or social media
It may all sound daunting—and that’s exactly why we encourage people to start early. Many panic as they get older and their wealth grows, but delaying only makes it more expensive and stressful later on.
Start now. It’s worth it.
Disclaimer
This podcast’s information is provided for general reference and was obtained from publicly accessible sources. The Podcast Collaborative neither produces nor verifies the content, accuracy, or suitability of this podcast. Views and opinions belong solely to the podcast creators and guests.
For a complete disclaimer, please see our Full Disclaimer on the archive page. The Podcast Collaborative bears no responsibility for the podcast’s themes, language, or overall content. Listener discretion is advised. Read our Terms of Use and Privacy Policy for more details.