I always ask business owners if they have buy-sell insurance or partnership insurance. Surprisingly, about 50% of them didn’t know what it was, let alone possess it. When I asked if they had a Partnership Agreement in place, most answered, of course. Some were more formalized than others, but most saw the importance behind having a partnership agreement. Then, I … Read More
What are my 4 Options When we Sell our Family Cottage to Pay Fewer Capital Gains?
I’ve been very blessed to grow up having access to a family cottage. Our cottage has been in our family for the past 36 years, and when the day comes to sell it, there will be very few dry eyes amongst us. Our cottage is a first-generation cottage, but I know of families that have had a cottage in their … Read More
Starting an Insured Retirement Plan to Ensure Your Retirement Goes as Planned?
Maximizing High Net Worth to Fund Retirement Plans for Business Owners So why would you want to set up an Insured Retirement Plan as a business owner? To dividend out your retained earning subjects you pay taxes at your personal marginal tax rate. Depending upon how much you pay yourself (Salary, Bonuses, Dividends) in any given year can mean that … Read More
7 Reasons Why You Don’t Want to Cancel Your Life Insurance Policy
Have you found yourself thinking of cancelling your life insurance policy you pay for every month? You are not alone. As time goes on, we often forget the reasons for purchasing the amount and type of coverage we did. For this reason, it is advisable to have regular reviews to make sure you are adequately protected. Perhaps you are having trouble … Read More
6 Reasons Why It Might be Time For a Life Insurance Audit?
A Life Insurance Audit Will Ensure Your Needs Haven’t Changed. Has it been a while since you last looked at your insurance portfolio? Have you had a life insurance audit since you set up your policies? Are you a little vague in your recollection of all the coverage you have and why you have it? Are you uncertain as to … Read More
4 Key Things to Consider When Building Business Owner Wealth
The Keys To Building Business Owner Wealth You’ve built a thriving and successful business. You continue to be profitable and continue to reinvest into your business while building wealth for your eventual retirement. You have a succession plan in place and a plan to exit the business at some point over the next 15 years. The plan is to work … Read More
5 Reasons Why You Don’t Want to Wait Too Long for Converting Your Term Insurance
Converting Your Term Insurance into an Asset If you require permanent life insurance coverage for family, estate planning, business, or tax planning purposes or you just wish to accumulate money in your life insurance program. It may be time to look at a permanent, level cost solution. Many of us purchase large amounts of low-cost term insurance to cover our needs … Read More
What are the 12 Benefits of Permanent Life Insurance for Business Owners?
Best Corporate Financial Planning Considers the Benefits of Business Insurance Most people hate life insurance. There are even fewer people that want to buy life insurance. The people that like it are the individuals that realize what life insurance can do for them and their business. The only other people who want to buy life insurance are the one’s that … Read More