Estate Planning with Life Insurance, 9th Edition - AnswerConnect

Format: Online Book
Product ID: 000000000010121134

This guide provides critical insight into the many roles life insurance plays in estate planning. 


This book is primarily intended for insurance advisors who work with business owners, executives, and other high net worth individuals, although lawyers, accountants, and other professionals admit to reading the book. We hope this book will be helpful not only to insurance professionals but also to tax advisors who may be unfamiliar with insurance opportunities and rules. By necessity, this book contains a lot of income tax-related material. It is not, however, intended to be an income tax or estate planning text. The income tax information provided is intended to be of sufficient detail that it will help the insurance advisors understand how insurance products can best be used in client situations. As in all previous editions, new and relevant case law have been included, as well as references to relevant sections of the Canadian Income Tax Act and pertinent CRA publications. Unless otherwise indicated, the examples and commentary in the book apply only to Canadian residents and citizens.

This handy reference includes:

  • How to resolve and plan for estate liquidity needs;
  • The impact of personal and corporate tax rates on life insurance planning;
  • The role of corporate-owned life insurance in estate and business planning;
  • Insurance needs and succession planning for owners of family businesses;
  • Detailed strategies for funding shareholders' agreements;
  • How to help clients and find insurance opportunities by reviewing and understanding shareholders' agreements;
  • The use of life insurance as a leveraging vehicle;
  • The use of life insurance in planning with trusts;
  • The role of life insurance in charitable giving;
  • Creditor protection using insurance products;
  • The impact of the passive income rules and other private corporation tax changes on life insurance planning;
  • Commentary regarding the transfer of insurance policies between corporations and shareholders;
  • New case studies and important new court cases;
  • Commentary in different chapters concerning the impact of changing personal tax rates and dividend tax rates on insurance and tax planning;
  • The impact of recent Budget changes on corporate-owned life insurance and capital dividend account planning.

An essential reference for anyone involved in estate planning, this book will demonstrate how life insurance can assist your clients in securing lifetime financial success and establishing a strong legacy.

More Information
Contributors Steve Meldrum
Product Type CCH AnswerConnect
Format Online Book
Subject Area Life Insurance
Steve Meldrum
Steve Meldrum CFP, CLU, FEA
Steve’s an authority within the Canadian insurance industry and frequent contributor to industry and accounting publications and events. He believes that simplicity brings clarity and seeks to answer estate planning complexities through this lens.  Steve is the corporate insurance specialist at Swell Private Wealth Ltd. He’s a contrarian by nature and loves getting deep into tax. His practice trains accountants how to integrate insurance solutions into their advisory models. Steve’s mantra is to CRUSH TAX, both now and in the future. When there’s a challenging problem to solve, he dives all in to bring value to the table.   Steve is a designated Family Enterprise Advisor, Chartered Life Underwriter and Certified Financial Planner. He obtained a Bachelor of Management degree with a double major in finance and marketing from the University of Lethbridge and studied international finance at the Universidad de Panamericana in Guadalajara, Mexico.   He currently serves on the board of directors for the Conference for Advanced Life Underwriting (CALU). Additionally, he’s enrolled in the Chartered Professional Accountants In-Depth Tax Program and the Society of Trust and Estate Practitioners Trust and Estate Practitioner designation.