{"id":1464,"date":"2021-05-20T09:30:43","date_gmt":"2021-05-20T13:30:43","guid":{"rendered":"https:\/\/fortax.ca\/?p=1464"},"modified":"2022-10-18T21:25:16","modified_gmt":"2022-10-18T21:25:16","slug":"joint-last-to-die-for-estate-planning","status":"publish","type":"post","link":"https:\/\/evolvethought.com\/fortax\/2021\/05\/20\/joint-last-to-die-for-estate-planning\/","title":{"rendered":"Joint Last-To-Die for Estate Planning"},"content":{"rendered":"<style>\n.page-title-inner {display: none;}<br \/>\n.entry-header-text-top {display: none;}<br \/>\ndiv#comments {display: none;}<br \/>\n.entry-author {display:none;}<br \/>\nfooter.entry-meta {display: none;}<br \/>\n.subul {margin:0;list-style:revert;}<br \/>\n<\/style>\n<h1>Joint Last-To-Die for Estate Planning<\/h1>\n<p>Taking out a joint life insurance policy is generally less expensive than two individual policies and offers some unique, strategic benefits. There are two options, identified according to the terms of the payout: joint first-to-die and joint last-to-die. Each has different uses, depending on your insurance needs.<\/p>\n<p>A joint last-to-die policy is roughly half the cost of two individual policies. This offers considerable savings for budget-minded couples. You can provide for final expenses. Or leave a legacy for your children. It pays out only when both you and your spouse have passed away. The two deaths can happen simultaneously or years apart.<\/p>\n<p>It pairs well with the Right of Survivorship laws that exist in many parts of Canada. This law specifies that, if a couple has a joint tenancy agreement, the surviving spouse assumes control of the estate\u2019s property, without paying taxes or probate costs.<\/p>\n<p>Confirm with your FORTAX Financial Advisor how these laws apply in your community. If the surviving spouse doesn\u2019t need money to pay estate taxes, then holding a joint last-to-die policy can provide an economical way to leave a legacy for your children. Most couples name their children as beneficiaries to further reduce taxes.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Joint Last-To-Die for Estate Planning Taking out a joint life insurance policy is generally less expensive than two individual policies and offers some unique, strategic benefits. There are two options, identified according to the terms of the payout: joint first-to-die and joint last-to-die. Each has different uses, depending on your insurance needs. A joint last-to-die&#8230;<\/p>\n","protected":false},"author":1,"featured_media":1466,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false,"footnotes":""},"categories":[72],"tags":[],"class_list":["post-1464","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-fortax-blog"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/evolvethought.com\/fortax\/wp-json\/wp\/v2\/posts\/1464","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/evolvethought.com\/fortax\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/evolvethought.com\/fortax\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/evolvethought.com\/fortax\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/evolvethought.com\/fortax\/wp-json\/wp\/v2\/comments?post=1464"}],"version-history":[{"count":1,"href":"https:\/\/evolvethought.com\/fortax\/wp-json\/wp\/v2\/posts\/1464\/revisions"}],"predecessor-version":[{"id":14721,"href":"https:\/\/evolvethought.com\/fortax\/wp-json\/wp\/v2\/posts\/1464\/revisions\/14721"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/evolvethought.com\/fortax\/wp-json\/wp\/v2\/media\/1466"}],"wp:attachment":[{"href":"https:\/\/evolvethought.com\/fortax\/wp-json\/wp\/v2\/media?parent=1464"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/evolvethought.com\/fortax\/wp-json\/wp\/v2\/categories?post=1464"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/evolvethought.com\/fortax\/wp-json\/wp\/v2\/tags?post=1464"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}