Case Study
Client/Challenge:
Dr. E (age 72) and his wife (age 69). They are asset rich and cash poor with $2.1 million in RIFs, a $2M cottage and $1M condo. They planned to make the minimum prescribed withdrawals from their RIF and wanted to eliminate the 54% tax bill on any residue.
Outcome:
They now earn 5.25% guaranteed for life, with no market or interest rate risk. Their estate tax liability was eliminated.