Running a Small Business: New Rules Part 3 - Corporate Owned Life Insurance and Personal Estates
By The Empire Life Insurance Company
Corporations may provide benefits or be perceived as providing benefits to shareholders, key employees and their families. This may trigger unanticipated legal and tax consequences. Join Peter Wouters as he takes a deeper look at individual policies owned and/or paid for by the company at the time of purchase and the legal and tax implications of transferring policies or flowing benefits to family members for personal estate planning needs.