Planning for the future

Estate Planning

Choosing the right life insurance policy for estate planning
Estate planning is an emotional task with significant financial ramifications. The bright side is that you have several helpful tools. Did you ever consider estate planning along with life insurance? Getting your paperwork and taxes in order is essential for creating a financial plan.
Life insurance preserves your estate's value by managing certain costs, such as probate fees and taxes, that chip away at the inheritance you choose to leave your heirs.
Understanding life insurance and real estate planning

Estate planning utilizes tax strategies with trusts and wills to minimize tax liabilities at the investor’s death. It achieves the investor’s property and wealth distribution in an efficient manner.

Properly structured life insurance provides funds to the estate or holding company to meet fund obligations, estate tax liabilities, and fund to replace lost income.

We have years of experience, so our professionals consider the client dynamics that maintain family harmony when effectively planning the estate.

Developing an estate plan for high-net-worth individuals

Even if you can’t take money with you at death, you still require money when you die. People typically work hard to accumulate assets that they can pass down to their loved ones. A will would be a good starting point because it provides a roadmap for planning your estate.

By having a will, it is the executor’s responsibility to file the tax return on your behalf, and the government considered you had sold all your assets before your death, leading to a large tax bill.

Part of the final tax bill includes probate fees on bank accounts and income taxes on RRIFs and RRSPs. These taxes reduce the assets’ value by 25 to 50%.