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Legacy — Business Owner Succession

You’ve worked your whole life to build and to maintain a profitable business. Now, it’s time to enjoy the fruits of your labour. You’re making plans to pass your business on to the next generation of owners. Along the way, you’ve bought into various investment vehicles. These may make your earnings vulnerable to high tax rates. Do you know how much you’re paying in taxes from those investments?

By establishing a life insurance policy owned by your corporation, earnings will be further sheltered from taxes. The corporation becomes the beneficiary, receiving a tax-free death benefit, which it will credit to its capital dividend account. The remaining shareholders can then be paid in tax-free funds.

Not only the beneficiaries save taxes, the policy itself has a guaranteed cash value. As long as the money remains in the life insurance policy, it grows in a tax-advantaged way. You will substantially lower your tax burden by moving your investments from a highly taxable environment to a life insurance policy. With Palladium Insurance’s flexible legacy solutions, you maintain complete control of your policy. You can even choose to tap into its cash value at any time.

At Palladium Insurance, we pride ourselves on a long history of protecting business owners’ financial security. Call us to learn more about our flexible life insurance programs.

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