BMO Nesbitt Burns
1501, avenue McGill College
Plan to maximize what you leave to your heirs
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:
By developing an estate plan you can minimize their effect and leave more for your heirs.
- 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.
The role of life insurance
insurance can be an important component of your estate plan. When a
beneficiary is named, the proceeds from the policy bypass probate fees
providing more for your beneficiaries. The death benefit can provide the
funds to cover any tax liability. Or it can be used to create a larger
estate for your heirs.
To learn more
you'd like to learn more about planning for your estate, I can
introduce you to one of our Estate & Insurance Advisors. For more
information or to arrange an appointment, please contact me directly: Patrick Phelan (514) 251-7946