Estate Planning

Estate planning refers to planning ahead for how your assets will be divided up, managed, and preserved upon your death, including what taxes will be owed, how they will be paid, and who will be managing everything. Estate planning is very important, and the more assets one has, the more important it is. Estate planning is for the individual what succession planning is for a business.

Ross Financial are experts at estate planning and specifically how to minimize the tax consequences of your estate. While there is no inheritance tax in Canada, there are still plenty of ways that individual assets may be taxed when they are transferred to someone else.

There are several ways to use insurance for tax purposes, and in one example, it is possible to use life insurance to reduce the taxable income on your final return. Another example is using corporate-owned insurance to pay estate taxes.

Using insurance to defray taxes is our area of expertise. We encourage you to attend one of our free seminars or contact us and let us help you save more for your loved ones and pay less to CRA.