Tag: Estate Planning

Estate Planning 102

What happens to your assets when you pass away? Rick is a retired Physician. He and his wife Janet are both Canadian and they have three children. He is incorporated and has built up savings of $3,000,000 in his corporation which includes the cash value of his life insurance. They have RSPs of $2,000,000 and they own their home which is worth $2,500,000 and have no debt. Their children are grown up and they have five grandchildren. Their Wills and…