Estate Planning

Estate Planning

If you have assets and liabilities, you should have an estate plan. Here’s why:

  • Estate planning gives you the opportunity to make sure that those who depend on you have the resources they need to carry on
  • You can minimize taxes, ensuring that your wealth goes to your heirs, and not the government
  • You can ensure that your affairs are settled according to your wishes

Certain circumstances require special consideration:

  • Family-owned businesses
  • Divorced & blended families
  • Families with disabled dependants
  • Families responsible for care of elderly relatives
  • Same-sex couples.

Estate Planning Checklist

  • Up-to-date will, power of attorney and living will or advance directive to your physician
  • Selected an executor for your estate
  • Selected a guardian for minor children or other dependants
  • Adequate funds to support dependants
  • Funds available to pay off debts and obligations
  • Liquid assets to pay taxes and other costs of settling your estate
  • Specified your funeral wishes

When to revise your estate plan:

  • Marriage or divorce
  • Birth of a child or grandchild
  • Death of your spouse, other heir, or executor
  • Acquisition of foreign property
  • Change in province or country of residence
  • Receipt of an inheritance
  • Significant change in your financial situation
  • Retirement or job loss
  • Occurrence of serious illness or disability
  • Starting or selling your business
  • Changes in legislation that affect estate planning

If you do not have a lawyer, please Call Us or e-mail us and we will be pleased to refer you to one.

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