Estate Planning
Estate Planning
Two simple words which stand for arranging your affairs to ensure that whatever remains of your retirement savings after you die passes to your heirs according to your wishes without delay and unnecessary tax payments.
People tend to avoid contemplating their own mortality and, not surprisingly, often neglect to plan for the distribution of their financial assets and other property when they die.
It's natural to avoid thinking about the need for estate planning and a Will, or to forget about the issue after your will is first written. However, the only way to ensure that your wishes will be followed and your assets passed on in a timely, fair, and tax-effective manner is to have a well thought out estate plan that includes a valid, up-to-date Will.
ESTATE PLANNING CONSIDERATIONS
Does your will and estate plan effectively provide for an orderly disposition of your estate to all your intended beneficiaries?
Can gifts made during your lifetime minimize probate fees?
Have you confirmed your intentions regarding jointly-owned property such as real estate bank accounts, and investments so that clear ownership rights are established?
Will establishing a trust for your spouse, children, or charity help you realize tax advantages and preserve assets such as a business, cottage or family home?
Are your life insurance benefits payable directly to your beneficiaries or to your estate to pay off liabilities or to provide income?
Do you have a plan to reduce or defer taxes that become payable at death?
Do you have a complete record of your personal and financial affairs?
Have you preplanned your funeral arrangements?
Do you have a plan to meet the immediate financial needs?
Do you have a Power of Attorney?
Please contact us for more information.