What Happens to My Business When I Die? | RRSPs, Capital Gains, and Corporate Real Estate
Control and Compound with Darren Mitchell · Control and Compound Financial | BNV Media
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Show Notes
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On today's episode, we're asking a question that a lot of us don't want to ask: "What happens to my business when I die?" And more importantly, what do you need to know about death and taxes in Canada when it comes to your business. Darren and Christina break it all down including RRSPs, capital gains, corporate real estate, and of course utilizing life insurance in your tax planning. They also go through a great real world example and finish with a quick summary of how the Rockefeller Method works. Tune in now!
Show notes:
00:00 - Introduction
1:20 - Understanding death and taxes in Canada
7:15 - RRSPs and capital gains
9:50 - Corporate real estate
12:05 - Life insurance as part of tax planning
16:20 - Example of an entrepreneur who started a business from scratch and after 20-30 years, the business is worth 10 million and the entrepreneur passes away… what happens next?
25:30 - Non-tax considerations
30:20 - The Rockefeller Method
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