Distribute Assets Fairly with a Toronto Life Insurance Policy

It is comforting to know that if your family lost you that your loved ones would be protected. A Toronto life insurance policy can offer that comfort and also ensure that your family will not be fighting over the division of your assets, because you will have pre-designated your beneficiaries deciding “who gets what”.

As terrible as it is, distribution of assets after death is a problem that many people face, and often results in legal battles and years of resentment. A Toronto life insurance policy represents an important opportunity to fairly distribute your assets – thereby limiting the potential of family disputes arising once they have lost you.

Think about it this way. If you own your home, it often does not make much sense to leave it to several beneficiaries. If this happens, conflicts over keeping or selling the home, and any issues that surround these decisions can quickly ensue. Instead, leaving it to a single beneficiary often is a better choice. Doing this though can also lead to disputes since other family members may see it as an unfair distribution of your assets.

A good way to solve this problem is by purchasing a Toronto life insurance policy to be used as another asset to be distributed. By purchasing a Toronto life insurance policy that can be left to a loved one once you pass away, you can make sure that one family member does not receive a far greater dividend than any other. Leaving life insurance to one member and the large asset to another ensures that all members feel that you have divided your possessions equally – getting rid of the chance for resentment and bitter feelings.

If you have children or grandchildren that you know you would like to leave something to upon the event of your death, a Toronto life insurance policy is a great way to do this. By listing more than one beneficiary, or by dividing up the life insurance policy in your will, you can make sure that those family members you want to leave something to will get it.

Living with the secure knowledge that your assets will be divided fairly in the event of your death is important. Purchasing a Toronto life insurance policy now that will achieve this is a smart way to distribute those assets and save the added heartache once you are gone.

Here are some things to remember when you purchase your Toronto life insurance policy. If you are leaving an asset (house, business, etc.) to one family member, try to make sure that the value of the policy is relatively equal to that of the asset. Also, check it regularly, and if market values change, you might want to adjust the policy to reflect those market changes – that way both assets remain of equal value.

Don’t let an unequal distribution of your assets leave your family dealing with even more loss once you are gone. Take advantage of a Toronto life insurance policy and see your assets divided fairly.

For more information about a Toronto life insurance policy, please contact Gary Mandel at Independent Financial Concepts Group at 416-849-1653 or visit www.wecoveryou.ca