Estate planning for incorporated physicians

December 17, 2018

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Estate planning for incorporated physicians

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Is your corporate legacy a gift to the government? How to avoid double taxation

Estate planning for incorporated physicians

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If you have a corporation without a capable executor, you could be subject to double taxation.

If you have been named or asked to be an executor, be sure you understand the full extent of the responsibility.

Canadians who own investment property in the U.S. may have to pay U.S. estate taxes.

The MD Physician Retirement Readiness Study explores how Canadian physicians are thinking about and preparing for retirement.

If you intend to keep your corporation until the end of your life, it could add complexity to your estate plan. Without the right strategies in place, you could end up paying more tax than you need to

If you are an incorporated physician, you can reduce the tax burden on your estate by donating shares from your private corporation

You may already have a will and power of attorney in place. Be sure to protect your digital assets as well and share access with those you trust.

Many people recognize that having life insurance is a necessary part of their estate planning. But, life insurance can be hard to understand, so you’ll find answers to seven common questions...

If you want to be sure that the assets you have accumulated over your lifetime will be passed on to your family after your death, you should consider the benefits of setting up a trust in your...

Estate planning is about ensuring that your assets are distributed in the way you wish and minimizing the burden on your loved ones after you pass away. One of the most important aspects of estate...

Inter vivos trusts—created during your lifetime, as opposed to taking effect after death—are chosen for a variety of reasons. Two of the most common reasons are tax efficiency and personal needs,...

Estate planning is the proactive, systematic process of “putting your affairs in order” so you can minimize the impact (includes tax, legal, accounting and administrative costs) on your estate...

Creating, maintaining and executing a formal estate plan are important for most people. In addition to learning about the reasons why you need an estate plan, there are other related issues you...

To most young adults starting out in their careers, estate planning seems like something for much older and much wealthier people. But even if you don’t have a long list of potential heirs or much...

When you think of preparing a will, what’s your first reaction: relief that you already have one, or embarrassment that you don’t? Dying without a will (known as dying “intestate”) can have...

Estate settlement often involves an array of technical and emotional issues. While it may seem like a privilege to be named an executor, the task also comes with significant responsibilities. An...

While you may consider it an honour to be named the executor of an estate, do you know how to handle the role? Many people find the responsibilities of executorship difficult to manage. The...