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You May Be Able To Protect Your Estate Wealth Using These 2 Insurance Strategies

Did you know that a significant risk to Canadian estate wealth lies in the application of deemed disposition by the Canada Revenue Agency (CRA)?

In an estate planning context, deemed disposition is the assumption (for tax purposes) that the deceased has disposed all of their capital property just before death, thereby crystalizing taxable capital gains on appreciated assets, as well as including the full value of the deceased’s RRSP or RRIF assets in their  taxable income on their terminal return (if spousal rollover is not elected or is not applicable).

The application of such deemed disposition upon your passing, subject to how you have structured your wealth at the time of your passing, may significantly erode your estate wealth. In extreme cases, your executor may be forced to liquidate assets to settle the resulting tax liabilities.

In this article, we describe two insurance solutions which may help you cover the tax which would otherwise be payable by your estate.

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The Informed Philanthropic Advisor: Helping Your Client Start a Charity

We know you’re the seasoned specialist when it comes to advising your clients on a range of financial and legal topics, but as we’ve discovered over the course of our The Informed Philanthropic Advisor series, the philanthropic landscape is anything but simple. 

That’s why Bloom Investment Counsel, Inc. has put pen to paper in this new informative series to ensure you can become the best possible partner to your clients when it comes to navigating the often challenging (but very rewarding!) charitable sector.

So you’ve done the legwork—what’s next? If you’ve been following along for the entire series, you know that after you’ve had the often tricky conversation about philanthropy, assisted your client in identifying an organization that aligns with their values, and helped them research to ensure the organization is legitimate, there is still lots of work to be done to properly form and execute the plan. But what if your client is looking to expand their horizons by starting their own charitable endeavour? 

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Model Portfolios—Are They Right For You?

Looking for an investing service to manage your investments for you? If you are in the process of selecting an investment manager, the proliferation of providers requires careful navigation.

Assets in model portfolios have been rising fast in recent years, reflecting many investment managers’ and advisers’ growing interest in seeking quick and convenient ways to invest clients’ money. At the end of the day, who do these pre-built investment portfolios really benefit?

In this comprehensive yet easy-to-follow guide, we illustrate what a model portfolio is by using an everyday analogy, and take you “behind industry scenes” to understand their surge in popularity, so that you can understand what they really are before signing investment management documents for your advised investment solution.

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