Should your business partner die, who would inherit his portion of the business, his wife, or his children? The sudden death of a shareholder in a closely held corporation can be a significant loss to the company’s on-going operations. It will leave a hole in the management team and could cause severe strain in decisions … Continued
As we discussed earlier, the Federal budget in February of 2018 introduced new rules on how passive investment income inside a corporation is taxed and viewed. Passive investment income has always been taxed at a very high rate, which made it important to be clear on how your corporate cash surplus was invested or saved. … Continued
A critical illness policy is a policy that pays a tax-free benefit if you were to ever contract a critical illness and survive. The big 3 are heart attack, cancer and stroke…but in all, 25 different illnesses are covered in most critical illness policies. Just like life insurance, you can decide whether you want a … Continued
We always think it will never happen to me. But never is happening. Pretty much everyone you talk to would tell you they have had a family member or a friend…if not themselves, affected by a critical illness. Cancer, heart attack, and stroke make up the bulk of these critical illnesses…but most policies will cover … Continued
