It’s a special blend of love, prudence, and life insurance
A goals-based approach targets financial planning to meet objectives throughout life.
The total net value of your estate represents what you will leave to your family when you die. After paying off any liabilities, taxes arising at death, last expenses etc., what is left over is what your family will use to maintain the lifestyle that you created for them.
Life insurance is used for two general purposes in a private corporation – managing risk and creating opportunities. The risk management function is satisfied as life insurance provides the corporation with a tax-free payment in the event of the death of an owner or someone vital to the success of the business. As life insurance also allows for the tax-sheltered build up of cash value additional planning opportunities are additionally created.
Don and Kate were nervously anticipating Don’s upcoming life saving surgery. Don was also concerned that, should he not survive, Kate might not know everything that needed to be done upon his death. The night before his surgery he made this list for Kate of the things she should do if he didn’t make it through the operation
It has been said that a Will is the last message you will leave your family. Having a Will can provide clear direction as to what your wishes are and who will get what. Die without a Will (known as dying intestate) and chaos will likely be the result. Having a Will allows you to provide for certainty instead of chaos.
The 2018 Ontario budget features a number of new measures and billions of dollars of enhanced spending across the spectrum, as announced by the province’s Finance Minister, Charles Sousa. Read on for some of the key proposals.
If you are interested in creating a legacy at your death by making a charitable donation, you may wish to investigate using life insurance for that purpose.
Permanent life insurance, such as Whole Life or Universal Life, has long been accepted as a tax efficient way of accumulating cash for future needs. … Read More »Taxation of Life Insurance – New Rules Offer a Window of Opportunity