Don't Lose Up To 50% of Your RRSPs to Taxes
Author:
Ivon T. Hughes
Like
most Canadians you have probably just made your annual contribution to your
Registered Retired Savings Plan, commonly known as RRSP. Your contributions
are tax-deductible, the funds accumulate without having to pay tax and,
on death, you can transfer the money tax-free to your surviving spouse.
Every retirement plan should take full advantage of the fully deductible
RRSP contributions you can make.
However,
did you know that your heirs stand to lose up to half of this money to the
taxman?
When
the surviving spouse dies, your children or grandchildren who would normally
be heir to any funds remaining in RRSPs or Registered Retirement Income
Fund (RRIFs - the income payout version of RRSPs) stand to lose up to half
of these funds to taxes.
Our
RRSP/RRIF Conserver protects your heirs for the tax payable on the remaining
funds in your RRSP or RRIF when you and your spouse die. As a result, the
full value of your remaining RRSPs or RRIFs will pass intact to your heirs.
Go to our website and click on RRSP/RRIF Conserver - it will show you how
it works and illustrate the difference this strategy could mean to your
heirs.
We
want to help you save on your taxes! Run your own projection at our website
to illustrate how this plan can be an excellent compliment to your RRSP
or RRIF. If you require more information or assistance with your projection,
please do not hesitate to contact us should you require assistance or more
information.
Back
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Ivon T. Hughes, The Hughes Trustco Group Ltd.
Online Insurance Broker - Get a FREE Quote TODAY!
Tel: (514) 842-9001 Email: info@trustco.ca
Web: http://www.trustco.ca
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