Sentences with phrase «subject to an estate tax when»

Yes, all of the retirement funds will be equally subject to estate taxes when you die.

In cases where the insured person is the owner of the policy, the proceeds are subjected to estate tax when he or she dies.

If the value of your estate and your assets exceed the estate tax exemption, any assets you own that exceed this value are subject to an estate tax when you pass away.

Not exact matches

In the absence of any planning, when you die, if you are the sole subscriber for an RESP, it will form part of your estate and may be subject to tax and probate fees and distributed based on the terms of your will.

Because she has such a large RRSP, Lisa's estate will be subject to significant taxes when she passes away.

When you retire from this world to the next, your heirs will receive that money income tax - free (although it may be subject to estate taxes).

When a person dies, their estate may be subject to estate tax if the value of the things they own (cash in the bank, the value of their property, etc.) totals more than the estate tax exemption amount.

If you control the policy in any way — that is, you can cancel it, surrender it, borrow against it, pledge or assign it, or can change the beneficiary — then you possess incidents of ownership in the policy, and the proceeds of the policy may be subject to federal estate taxes when you die.

If you choose your spouse to be the owner and beneficiary of your life insurance policy, the proceeds of the policy will be subject to estate taxes and perhaps probate administration when he or she eventually dies.

When purchasing real estate in Vancouver or its surrounding suburbs, foreign nationals are subject to the same property tax and property transfer tax as Canadians.

Note, however, that both fixed annuities and CDs are subject to estate tax, and that the earnings inside a fixed annuity are subject to income tax when paid out (the earnings in a CD, by contrast, are taxed when you earn them).

This exemption is key as all property — including your home, cottage, real estate rentals, even stock portfolios — are subject to capital gains tax when they increase in value.

However, when these assets are passed to your heirs (other than your surviving spouse), they are subject to federal income tax and may also be subject to federal estate tax (depending upon the value of your estate) as well as various state income, inheritance and estate taxes.

Life Insurance Tax When you receive dividends from your life insurance policy, the dividends are taxable, and the proceeds of the policy are part of the estate and may be subject to estate tTax When you receive dividends from your life insurance policy, the dividends are taxable, and the proceeds of the policy are part of the estate and may be subject to estate taxtax.

Because the policy payout can pass straight to your spouse when you die, without going through probate court and without being subject to estate taxes.

Life insurance policies are part of your estate, and when you die everyone who inherits a part of your estate will be subject to paying estate taxes to the government.

However, if you have a successful practice or business that can potentially be subjected to huge estate taxes upon your death, then you must opt to go for a permanent insurance, or whole life insurance that will kick in action when you die and provide a cash stream for the family to pay off the estate taxes and insure them against financial risk.

However, when your spouse passes away, if the assets left behind are valued at more than federal estate tax exemption of $ 22.4 million, your heirs will be subject to a 40 % tax rate on the value of your estate that exceeds the exemption.

When your spouse passes away he / she can leave up to $ 10.98 million behind to your loved ones untaxed, but any assets that exceed this value will be subject to the federal estate tax rate of 40 %.

When leverage is used to acquire real estate in an IRA, portion of the income derived from the financed portion of the property is subject to a tax known as UDFI tax (Unrelated Debt Financed Income).