Three Ways High Earners Can Earn Higher After-Tax Returns and Help their Kids


For those of us born before the 1980s, we enjoyed the benefits of affordable higher education and a fairly low entry point to the real estate market.  For kids about to enter University, the tuition cost of a three year law program could easily run over $100,000, a two year MBA between $60,000 -100,000 and the 20% down payment for their first home in Toronto would likely be over $150,000.  By comparison nearly 15 years ago, higher education was only about 10-15% of this cost and my first house down payment was less than $70,000 (and yes that was over 20% of the purchase price).  Our children, while given nearly every advantage, may find it tougher making their way in the world and to move out of our basements unless we start planning now.

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How to Get Low Cost Estate Protection


Josh Tward, Director of Insurance Operations, writes, “Clients often ask if they should be concerned with Estate Planning or if it’s only an issue for the wealthy.

The truth is that you don’t have to be wealthy for Estate Planning to be important to you, your spouse, children, grandchildren, etc.    The scale of assets being protected might be different; but no less important to your beneficiaries, & loved ones.

A simple and cost effective way to achieve long term Estate & Tax Protection would be to establish a type of life insurance policy, adapted for Estate Planning purposes.  The insurance in these plans are usually permanent, with locked in & level costs of insurance (COI), for life.  One of the most effective life insurance plans utilized in Estate Planning today is the Joint Last to Die Life Insurance Policy (JLTD); where both spouses are insured on the same policy. The policy pays out upon the passing of the 2nd spouse, thus keeping the cost of insurance lower.  In the insurance industry in this country, there are some interesting variations on JLTD policies, in terms of product features & pricing.  A qualified & experienced insurance broker, in the area of Estate Planning, can adapt the best option for specific client needs.


In Canada, when one spouse passes away their assets are allowed to pass to the other spouse without having to pay taxes on them. When the second spouse passes away a large tax burden can be created when the assets pass to the next generation.

The tax bill after the death of the second spouse can be very large, for many hard working Canadians.  This tax bill could be more than 40% of the value of the estate.

Here is where proper Estate Planning becomes so important.  Establishing a JLTD life policy tailored to your estate planning needs, can be a very welcome site; when that final tax bill from the government arrives.

The JLTD policy pays out lump sum & tax free to the beneficiary/s or your estate. Those funds are available quickly & can be used to pay the tax liabilities that will be owed on that 2nd passing.  Thus, allowing those hard earned assets to be directed to the beneficiaries of your choice & not the government.

Proper Estate Planning is critical in protecting a lifetime of hard earned income & assets.  By establishing smart & effective financial products like JLTD life insurance, you will be the one in control of protecting those assets & directing them where you want.

Life insurance policies are always best established as early as possible.  Insurance premiums only get more costly each year.  They also tend to increase in price at a much quicker pace, as we head into our forties & beyond.  Health is more likely to be favourable at younger ages as well.  Life insurance costs & Insurability is determined by variables such as:

Age – Health – Smoking status – gender, etc.

By working with us to prepare a comprehensive financial plan, you can learn ways to substantially reduce your lifetime tax bill and significantly increase the value of your estate.

If you would like to find out more about Estate Planning & how it relates to you, your family, &/or business please contact us.”