ESTATE PLANNING

The use and distribution of your estate during your lifetime and after your death is consistent with your goals and desires.
WHO’S INVOLVED:
  • Your lawyer for purposes of your will and powers of attorney
  • Your accountant for purposes of tax planning
  • Your financial planner for purposes of:
  • Minimizing tax costs
  • Build-up of cash assets
  • Distribution of assets to your named beneficiaries
  • In some cases, such as business asset transfers, your banker
TYPES OF ESTATE PLANNING:
  • Personal estate plan
  • Business estate plan
ROLE OF A FINANCIAL PLANNER:
  • Estate probate tax, RRSP, RRIf, tax planning and funding.
  • Estate equalization to your heirs. E.g. Business estate planning.
  • Capital gains tax funding. E.g. family cottage.
  • Charitable giving’s planning and funding.
  • Insurance products by-pass your estate, thus avoiding probate, legal, and accounting fees in your estate.

IN THE ABSENCE OF AN ESTATE PLAN, OR PART THEREOF, THE GOVERNMENT WILL COMPLETE ONE FOR YOU, IN THEIR FAVOUR.

Studies show that your estate can be eroded by up to 60% for tax, administration and other unecessary fees in the absence of a written and completed estate plan
Home | Estate Planning | Life Insurance | Mortgage Insurance | Critical Ilness | Long Term Care | Investment Planning | Groups & Individuals