Insurance

Plan to maximize what you leave to your heirs


Many people don't realize the hidden tax liability in their estate. Here are some of the ways taxes and fees can erode your estate's value:

 

  • Capital gains tax on the appreciation of your assets.
  • Income tax on the remaining value of your RRSP or RRIF.
  • Probate fees based on the value of your estate.

 

By developing an estate plan you can minimize their effect and leave more for your heirs.

Papers on a table at a meeting


The Role of Life Insurance

Life insurance can play an important role in your estate plan. By naming a beneficiary, policy proceeds generally bypass probate, helping preserve more of your estate for your loved ones. The death benefit can also provide liquidity to cover taxes and other estate expenses, or help create a larger financial legacy for your heirs.