MAXIMIZE Your Estate Plan With Proper Tax Planning

I think a lot of people think that Estate Planning is all about your will. Having an updated will when you pass way is extremely important, but without integrating tax planning into your estate plan, then the government will be the first in line for your estate in the form of taxes. In order to pay the least amount of tax on your estate when you die, your estate plan needs to be incorporated into your retirement and tax plan while you are alive.

Financial Resources I personally recommend:

OUTLINE
0:00 - 2 Parts of Estate Plan
0:20 - Part 1: Will
0:58 - Part 2: Maximization
1:35 - Who Gets Your Assets?
2:23 - Tax Planning
3:33 - Rental/Vacation Properties
5:12 - Tax Is Inevitable
5:52 - Life Insurance
7:20 - Have A Plan

This presentation is intended for information purposes only and does not constitute an offer to buy or sell our products or services nor is it intended as investment and/or financial advice on any subject matter. Every effort has been made to ensure the accuracy of its contents. Certain of the statements made may contain forward-looking statements, which involve known and unknown risk, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Returns are not guaranteed and past performance may not be repeated.
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DISCLAIMER: The videos and opinions on this channel are for informational and educational purposes only and do not constitute investment advice. Adam Bornn is not registered to provide investment advice and as such does not provide recommendations - those looking for investment advice should seek out a registered professional. Adam is not responsible for investment actions taken by viewers and his content should not be used as a basis for investment trades.

#retirement

[moewilson]

My mom gave the cottages to the kids before she passed. She paid off the capital gains tax. She continued to maintain a room there and no longer had to pay the property taxes, utilities etc….A smart mom.

[fahimaziz]

Hey Adam, great channel and advice! Quick request. can you make a video about what happens when parents pass away and kid has been passed on to their primary residence? Will the kid need to pay any tax to inherit parent's primary residence (not second home / rental property)?

[jordenhenry]

Maybe a video about Whole Life insurance.
Some make it sound like a great deal but seems like term is much better

[brigidemattar]

Can you make a video on setting up a trust and how to you it?

[sharonbuffett]

Thank you - so much - for this information.
I will be receiving the remainder of my inheritance in 4-6 months and I will ABSOLUTELY be contacting you at that time.

[BrockoM]

When you buy call options on fomc day, do you buy them around 1:30 rally time and how many days out do you buy for the expiry?

[matthewvanrossum]

So I’m assuming that a 2nd property should be treated like a business and all receipts should be keep. So to use your example, if you added a $10, 000 dock and spent $90, 000 on landscaping your cottage adjusted cast base is now $200, 000 instead of $100, 000?

[dynamics]

Success come with hard work, failure comes with taking easy. BTW:: this is a wonderful video, a fellow creator

[katalystc]

That's unethical. Deemed disposition? But the rental property isn't sold. How can CRA demand taxes from a property that isn't sold.

[ronbonora]

When your single with a lot of assets, it is difficult to get your taxes even upon death! Yes with a will etc...

[tadbbq]

For property, ppl can sell it buy another one with their kids or sell the purchase price to the kid. No captain gain at all. Lol