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Estate Planning

We can help you plan well into your future

It’s important to have a proper estate plan in place to ensure financial matters are taken care of quickly and to make sure family and loved ones aren’t too impacted by taxes as a result. We can help you take care of these details.

Why you need a will

An up-to-date, valid will is an essential part of the estate planning process. If you don’t have one – when the time comes – the government will distribute your estate in accordance with provincial law.

Only a will can ensure your exact wishes are fulfilled. The safest way is to work with an expert. Many do-it-yourself packages can leave details open to legal interpretation.

Update your will periodically, especially if you acquire new assets or welcome a new addition to the family. If you get married, your existing will becomes invalid.

How to distribute your estate

It’s more complicated than simply dividing your assets among your heirs.

You’ll need to determine a few important details first.

  • Define your assets. Think pensions, investments, stocks, bonds, real estate and personal property.
  • Note which assets you own jointly and the beneficiaries for your RRSPs and insurance policies.

Then choose your goals.

  • Maximize the value of your assets and protect them from taxation.
  • Make sure you have enough liquid assets to handle liabilities so your heirs won’t have to sell off assets.

Gifting assets before your death and establishing trusts are two good ways to help protect your assets from taxation. But keep in mind both strategies can get complicated by the individual tax circumstances of your survivors.

We get estate planning is no easy task and we also know how important it is to you and your family to do it right.

Contact an investment specialist today