We Specialize in

Estate Planning

Estate Planning is a lifelong exercise in financial planning. Most people think of Estate Planning is for when you die. Yes, this is true. However; if you incorporate some estate planning into your financial planning process, it’s easier as you age and retire.

The more money and assets one has, the more time should be spent on Estate Planning. For large business owners, this can become daunting and complicated.

The objectives of Estate Planning is to ensure all your assets go to the people you choose and in a manner that you can control. A manner of your choosing which is the easiest and simplest as possible with the least amount of taxes paid, stress for those managing your estate, and legal costs.

Keep in mind that estate planning includes how your financial affairs are to be managed should you become medically incapacitated from an accident, health issues, and severe injuries.

A will is the key component of your estate planning. Who should have a will? Everyone who owns investments and has debt such as a vehicle loan or credit card debt. When someone dies without a will, the provincial government deems that person to have died “Intestate” Which means that the government determines how your estate is to be settled. Not you. Every will needs to have specific topics covered, but should also include a “Power of Attorney” and a “Personal Directive”. Some law firms offer a FREE consultation on wills. All banks where you hold debt or investment accounts will require your estate to be probated. This may take 3-6 months to complete.

I have a document entitled “Protecting Your Estate” in the resource menu. This document may help you in how to structure your estate planning where certain types of assets can be transferred outside of your will.

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