Benefit From Corporate-Owned Life Insurance in Buy-Sell Agreements

Many clients are not aware of the tax benefits of using corporate-owned life insurance to fund a Buy-Sell Agreement on death. The effective top marginal tax rate on a capital gain realised by a deceased shareholder on the disposition of shares can be reduced to approximately 11.5%. There are also important Stop-Loss Rules. To read our latest Legal Business Report on this topic, click here.

Alpert Law Firm assists entrepreneurs, investors and seniors in planning and arranging their affairs to preserve wealth and complete an orderly transfer of property and assets to spouses or from one generation to the next. Howard Alpert, C.S. has been certified by the Law Society as a Specialist in Taxation Law and as a Specialist in Corporate and Commercial Law. For more information on our Estate Planning services, click here.

Strategies to Minimize Estate Administration Tax

Beginning January 1, 2020, the Estate Administration Tax has been eliminated for the first $50,000 of the value of the estate. When a will is probated in Ontario, pursuant to the Estate Administration Tax Act, a tax is levied at the rate of $15 per $1,000 on the value of the estate exceeding $50,000. Many clients are not aware that there is a recent regulation under the Estate Administration Tax Act, which requires an estate representative to file additional financial information about a deceased person and the estate. To read our newest newsletter which discusses strategies that clients can use to minimize the impact of the Estate Administration Tax, click here.

Alpert Law Firm assists entrepreneurs, high net worth individuals and family businesses to develop and implement long-term strategic objectives directed towards the inter-generational transfer of wealth in a timely and cost-effective manner. Howard Alpert, C.S. is certified by the Law Society as a Specialist in Taxation Law and as a Specialist in Corporate and Commercial Law and is recognized as an expert in Estates and Trusts Law. For more information regarding the newest methods of implementing Estate Planning Transactions, click here.

Wealth Preservation Strategies

Asset protection planning often involves the creation of holding companies, a corporate reorganization and the implementation of an estate freeze. Such planning regularly requires the preparation of wills, trusts, powers of attorney, living wills and property transfers. Howard Alpert, C.S. is certified by the Law Society as a Specialist in Taxation Law and as a Specialist in Corporate and Commercial Law and is recognized as an expert in Estates and Trusts Law. Howard provides tax planning and corporate advice to develop plans that reduce and defer tax, preserve value and maintain the financial well-being of heirs. For more information on our Wealth Preservation services, click here.