A Tax Free Estate Planning Solution for Individuals and Corporations
Over 30 Years Estate Planning Experience
Scott Mallender Insurance has vast experience developing insurance strategies for clients in the Windsor Ontario area with various estate planning needs. As no two clients are alike, Scott provides customized solutions that help his clients safeguard their future and their estate planning objectives in a tax-efficient manner.
At Scott Mallender Insurance, Scott uses Universal Life for estate planning as it provides many benefits for Canadian citizens and Corporations, including tax free death benefits. More importantly, present legislation allows for a Tax Free investment account with a multitude of investment options, while requiring no reporting ever on any activity or growth within.
Scott’s goal is to inform and educate everyone about this cutting edge product, with expert advice and service. He will design your UL product, specifically to maximize your priorities and financial desires. *Preferred beneficiaries will automatically provide Creditor Protection, for the life of this contract, guaranteed by the Canadian Insurance Act.
Meet with Scott to structure this tool, so that it becomes your Estate’s or Corporation’s most valuable asset. By working together, you can ensure the CRA will not become your biggest beneficiary!
Personal
- Ability to name preferred beneficiaries*
- Monies are 100% tax-free, creditor protected and immediate (received within 10-14 days)
- Private and confidential, – considered outside of your estate thus no delays, taxes, legal, accounting fees, or any reporting required thereby reducing the estate’s settlement costs
- Your tax-free investment portion can be included in your death benefit
*Preferred beneficiaries are designated by CRA as follows: spouse, mother, father, sons, daughters, and grandchildren. NOT ESTATE OR PARTNERS
Corporate
- Corporate owned policies are the most directly impacted by upcoming legislation
- Corporate owned policies must be thier own beneficiary
- Insurance premiums paid at the lower corporate tax rate
- Death benefit is paid automatically and immediately to shareholders, tax-free, through a Capital Dividend Account (CDA)
- Ability to tax shelter retained earnings, building equity that creates accessible cash value over time
- Manulife Bank understands the need for corporate cash flow by leveraging your corporate-owned policy (Prime + 1%).
- 75% of CSV immediately accessible through corporate leveraging with a multitude of leveraging options depending on your shareholder structure.
- All investment growth inside this UL is Tax Free and has no year-end reporting requirements.
- Annually, CRA and the insurer automatically recalculate the upcoming year’s maximum deposit.
- Annual maximums vary on the MTAR insurance setting and the previous year of deposits.
- The 7th year anniversary is an important milestone (Anti-Dump-In, 250% rule). I specialize in helping you strategize these first 7 years to maximize your future generous tax-free savings account.
- Money leveraged for investment purposes is tax deductible. Manulife Bank handles and supplies all required paperwork to qualify for this deduction with CRA.
- Life insurance proceeds automatically create a Tax Free credit in your company’s capital dividend account (CDA).
- Consult with your accountant and lawyer to determine which shareholder structure is ideal for you to maximize your CDA.
Would You Like to Give More to Your Family and Less to the Government?
If your answer is “yes,” you might want to consider the Estate Bond.
Scott Mallender is a Gold Elite Insurance Broker who works with fifteen of the top Canadian Life Insurance companies. His associates include a network of tax, retirement and estate planning lawyers, accountants, underwriters, and actuaries.
