Life insurance is often an essential component of estate and business succession plans. It is a cost-effective and tax-effective means of providing liquidity at a time when it is needed most. The tax and legal rules involving life insurance are complex, and collaboration amongst the legal, accounting and insurance advisors is critical to ensuring that the insurance is positioned in a way that best enables client objectives to be met.
In this webinar, Glenn Stephens, LLB, TEP, FEA, will review a number of current topics relating to life insurance. It will be of interest to lawyers, accountants and financial advisors who advise high net worth individuals, including business owners, and who need an update on current planning opportunities and potential pitfalls in this ever changing field of practice.
- The Calmusky and Mak cases and their impact on beneficiary designations
- Whether the CRA has the power to seize insurance proceeds to satisfy tax debts
- Planning opportunities and pitfalls relating to the transfer of life insurance policies between corporations and shareholders
- A review of case law involving life insurance-related shareholder disputes
- An update on the donation of life insurance policies to charity
This webinar will be of most interest to tax practitioners, lawyers and accountants (practicing independently or in small to medium sized firms) but may also be useful to financial planners working in financial institutions or wealth management firms, and other service professionals who want to take their practice to another level.
Professional Development Credits:
Wolters Kluwer professional development programs are designed to meet the continuing education requirements of a variety of professional associations. These requirements do vary by association and region. Please consult your provincial association to ensure this webinar meets the continuing professional development standards for your specific situation.
Registrations for each Live Webinar are available until the start of each program. We reserve the right to substitute speakers in the case of instructor illness. In the event that we must cancel a Live Webinar, all registrants will be notified immediately and given the opportunity to either transfer their registration to another Live Webinar or a Recorded Webinar or obtain a refund. Partial credit will not be awarded for attendees that are not present for the entirety of the Live Webinar. Credit will not be awarded if an attendee does not answer all of the polling questions (where applicable). Additional credit will not be awarded due to the instructor presenting over the allotted time.
This Webinar/Virtual Seminar Includes:
- Print version of the presentation slides
- Professional Development certificate for 3 hours
Glenn Stephens, LLB, TEP, FEA
Glenn Stephens was called to the Ontario Bar in 1982 and spent two years with a major accounting firm before joining the insurance industry as a tax and estate planning consultant. In 1990 Glenn went into private practice where he became a partner with a law firm in Toronto, specializing in the areas of taxation, estate planning and corporate law. In 1996 Glenn joined a major Canadian insurance distributor as a tax and estate planning consultant. He was responsible for managing and supporting a national network of tax and estate planning consultants, and for providing tax and legal support to insurance professionals in southern Ontario.
Glenn joined the PPI Financial Group in 2004. He is now Vice-President, Planning Services for PPI Advisory, where he provides tax and legal support to PPI Associates across Canada.
Glenn has lectured and written extensively on the subjects of estate planning, taxation and life insurance. He is a regular contributor to Insurance Planning and a columnist for FORUM magazine. He is also the author of the book Estate Planning with Life Insurance, the eighth edition of which was published by Wolters Kluwer CCH in 2021. Glenn is a member of the Society for Trust and Estate Practitioners, the Canadian Tax Foundation and the Institute for Family Enterprise Advisors.
For Affluent Clients:
¨ succession and estate planning
¨ retirement planning
¨ estate conservation
¨ charitable giving
¨ income splitting techniques
¨ inter vivos trusts
For Small Business Owners and Professional Partnerships:
¨ family business continuation planning
¨ buy-sell funding
¨ collateral insurance
¨ retirement income programs
¨ key person insurance
¨ reviewing shareholder agreements, trust documents, wills and other legal documents