Business and Finance: Diversify, and Plan well before you Die

The cost(s) of living we all know; not that many know the manifold costs of dying, which those left behind must bear. Aside from the obvious funeral expenses, there are myriad transfer taxes, stamp duties and legal and other fees, depending on the asset value of the deceased.

This was among the unwelcome yet useful bits of info that emerged from a Scotia seminar on estate Planning held jointly by the investment and insurance arms of the financial giant at its Liguanea Branch
Noted Estate  attorney and part-time Lecturer at the Norman Manley Law School, Denise Henry-James spoke of the process that ensues once a loved one has departed for the beyond, including the inevitable payment of transfer tax, stamp duty, and legal and other requisite fees, depending on the value of the estate (as determined by the Government)

Hugh Reid, head of Scotia Insurance, who outlined some of the trends affecting the industry, spoke of a respite from taxes, at least for the companies - in the form of the abolition of premium income tax and investment income tax that should at least leave a greater portion of the insured's funds undisturbed by the tax man.

Trendiness may not be what one goes for in picking stocks, according to VP Treasury and trading (and unabashed Warren Buffet devotee) Gregory Samuels

Branch manager Michael Lee overdaw the proceedings, while Senior VP Sales and Service Courtney Sylvester  reminded the capacity audience of the bank's commitment to improving the financial well-being of its clients.