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Monday, May 12, 2014

Joint last-to-die insurance: a quick overview

As part of your estate planning process, you should consider your life insurance needs, and discuss them with your lawyer or financial advisor. You might be surprised at the creative ways that life insurance can be used to create needed cash flow in an estate. It's not for everyone, but can be a very useful tool.

Since I'm not an expert in the numbers associated with insurance, I leave that to the professionals. I've recently read a really good post by Paul Fawcett of Dejardins that explains how joint, last-to-die insurance policies can work in an estate. It's definitely worth a read if you own a cabin, rental property, a business, or any other asset that will be taxable on your death. Click here to read it.

The attached photo of Paul was found on his LinkedIn profile.

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