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GBK Strategic | Blog Archives - Page 36 of 47 - GBK Strategic

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INSURANCE OPPORTUNITIES FOR THE HNW CLIENT

Posted by Admin1034 in Blog, Uncategorized

Let’s face it, life insurance does not have the “sex appeal” of other types of financial products available to high-net-worth (HNW) individuals. But most wealthy individuals and business owners have purchased life insurance for the significant benefits these products provide to their overall financial and…

Capital SQUARED “the most effective use of capital”

Posted by Admin1034 in Blog, Uncategorized

Capital SQUARED utilizes three policy features (cash value, loan option, death benefit) to enhance overall net wealth and reduce the cost of funding annual premiums. This strategy also enables borrowed funds to be tax-deductible within the scope of subsection 20(1)(c) of the Income Tax Act -Canada. The Loan…

FAMILY BUSINESSES LOOK TO WEALTHY INVESTORS FOR FINANCING

Posted by Admin1034 in Blog, Uncategorized

More than half (58%) of family businesses are currently seeking external financing to fund their investment plans, finds a KPMG survey. And finding the right strategic investment partner can be challenging. While family businesses create more than 70% of global GDP, many find their fundraising options limited,…

Companies must protect key people

Posted by Admin1034 in Blog, Uncategorized

Consider the situation of a recent client, a successful private software firm wholly owned by a married couple. Although the owners are the prime drivers of the business, they rely heavily on their chief analyst for software development. Unfortunately, he died unexpectedly three months ago…

TAX CONSEQUENCES OF TRANSFERRING LIFE INSURANCE

Posted by Admin1034 in Blog, Uncategorized

Business and family relationships change over time. When that happens, people may need to move a life insurance policy from one person or entity to another. This requires careful review to ensure client objectives remain achievable. Typically, when ownership of a life insurance policy changes,…

RRSPS, RRIFS AND INSOLVENT ESTATES

Posted by Admin1034 in Blog, Uncategorized

At issue Where there is a beneficiary designation on a RRSP or RRIF, the funds in the respective account at the annuitant’s death will be paid to the named beneficiary. Specifically, it is the gross funds that the financial institution will pay out, with the…

CANADIANS NEGLECTING ESTATE PLANNING

Posted by Admin1034 in Blog, Uncategorized

More than half of Canadians do not have a will and even those who do either don’t keep it up-to-date or have concerns that the will won’t live up to their wishes. But financial advisors have a role to play in helping their clients make…

Charities and Life Insurance

Posted by Admin1034 in Blog, Uncategorized

Introduction In this Tax Topic, we look at the basic rules relating to charitable giving through life insurance and in particular, the methods of gifting life insurance. There are three main methods by which a donor can gift life insurance to a charity. First, the…