How can I Protect my investments from taxes on death?

There are good reasons why retirees should do estate planning to minimize taxes

The Walton Financial Group in Barrie Ontario has advice for investors wishing to minimize taxes on death After a lifetime of successful investing and planning people need to know how to protect their investments from taxes on death and the Walton Financial Group in Barrie Ontario has some tips:

• Canadian residents are deemed to have disposed of all their assets as of the date of death
• In many cases , at the time of death you are going to have more taxable income than at any other time of your life
• Registered retirement savings plans ( RRSP’s ) and registered retirement income funds ( RRIF’s ) are effectively de-registered at the date of death and subject to tax

So how can you plan for this?

• Through what is called a spousal rollover both non – registered funds and RRSP/RRIF’s assets are transferred to a spouse or common law partner with no tax triggered until the recipient dies.
• Registered retirement savings accounts ate tax free however there is a detail of some importance for couples that the Walton Financial Group will discuss with you related to the difference between the ” successor holder” designation instead of the ” beneficiary arrangement”

Make an appointment with a financial advisor at the Walton Financial Group to learn more about to minimize taxes payable on death . Your estate beneficiaries will appreciate it.