Bob Gauvreau covers four estate-planning moves: get a will, use a secondary will for your business corporation to skip probate, structure it to keep the capital gains exemption, and buy insurance to cover tax bills.
Let's talk about some estate planning tips. I know it's not a very popular topic for discussion, but it's something that's super important if you want to make sure you protect your financial interests and you protect your family. Let's one make sure that our wills are in place. If you have a small business corporation, let's use a secondary will to prevent probate on that asset class. Let's ensure that your corporate structure is set up the right way so that you don't lose out on any capital gains exemption tax planning opportunities. And as well, let's look at insurance planning and make sure if we have any tax liability or some future tax exposure, that insurance is in place to protect and preserve the wealth that you've worked so hard to create. Let's make sure that your assets are protected and that you have a plan in place to ultimately protect all the assets you've created.
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