https://dytucofinancialservices.com/wp-content/uploads/2016/12/Corporate-estate-transfer.jpg 389 821 Dytuco Financial https://dytucofinancialservices.com/wp-content/uploads/2016/10/Header-image-Medy-Different-Perspective-smaller.jpg Dytuco Financial2017-03-01 13:05:522017-04-05 21:20:08The Corporate Estate Transfer
If you are the owner of a successful company it is likely that you have retained profits or surplus cash in your corporation. If this is the case, chances are also good that this invested surplus is exposed to a high rate of corporate income tax. If this describes your company then you may be a candidate for the Corporate Estate Transfer. This strategy provides tax sheltered growth as well as maximizing the estate value of your company upon your death.
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2016 is an opportune year to buy life insurance. After this date, certain new policies will not have as much tax-free benefits as they currently do. This means policies approved and issued in 2016 are grandfathered with the higher tax-free benefits, but be aware that most insurance companies need about 3-4 months to get through this underwriting & approval process.
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In today’s family it is not unusual for spouses to enter the marriage with children from previous relationships. Parents work hard at getting these children to functionally blend together to create a happy family environment. Often overlooked is what happens on the death of one of the parents. In most cases special consideration for estate planning is needed to avoid relationship loss and possibly legal action. Your Life Could Change in a Minute!
https://dytucofinancialservices.com/wp-content/uploads/2016/01/beneficiary-designation-1.jpg 196 425 Dytuco Financial https://dytucofinancialservices.com/wp-content/uploads/2016/10/Header-image-Medy-Different-Perspective-smaller.jpg Dytuco Financial2016-06-01 08:00:052016-10-20 05:23:16Pay Attention to Your Beneficiary Designation
Naming a beneficiary is a valuable feature of life insurance and segregated funds policies so it is important to carefully choose your beneficiaries.
https://dytucofinancialservices.com/wp-content/uploads/2016/05/Questions-000103-0018-001260.jpg 1701 2400 Dytuco Financial https://dytucofinancialservices.com/wp-content/uploads/2016/10/Header-image-Medy-Different-Perspective-smaller.jpg Dytuco Financial2016-05-01 06:39:502016-05-31 21:13:21Understanding your life insurance options
Most people would agree that life insurance is an integral part of any comprehensive financial plan. The question is how to decide on the best type for your needs. This document can help you understand the different types of insurance options and how to select the type of plan that best suits your needs for coverage.
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If you are a grandparent wishing to provide an asset for your grandchildren without compromising your own financial security you may want to consider an estate planning application known as cascading life insurance.
https://dytucofinancialservices.com/wp-content/uploads/2016/01/iStock_000008480354Small.jpg 565 849 Dytuco Financial https://dytucofinancialservices.com/wp-content/uploads/2016/10/Header-image-Medy-Different-Perspective-smaller.jpg Dytuco Financial2016-03-06 08:00:222016-04-23 15:55:53Estate Planning for Real Estate Investors
For many Canadians the majority of their wealth is held in personally owned real estate. For most this will be limited to their principal residence, however, investment in recreational and real estate investment property also forms a substantial part of some estates. Due to the nature of real estate, it is important to utilize estate planning to realize optimum gain and minimize tax implications.
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If your plans involve doing well financially and leaving an inheritance for future generations, look at using life insurance to transfer wealth tax-free. This would seem preferable to leaving a big chunk of your hard earned money for the government. It also protects your money from probate and claims or "challenges" made to your Will.
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See how getting your own coverage gives you & your family more benefits compared to getting Mortgage Insurance from your lender.
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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. Soon the amount of funds that can be tax sheltered within a life insurance policy will be reduced by new tax rules which take effect January 1, 2017. These changes may make 2016 the best year to buy cash value life insurance.