Nobody likes to think about their mortality but ensuring your final wishes are carried out efficiently and tax-effectively requires some forethought. The key to making sure your assets are passed on to your beneficiaries the way you want is having a solid estate plan.
An estate plan has two major components: financial & administrative. The administrative component handles how & to whom the assets will be distributed and includes things like wills, powers of attorney and trusts. The financial component ensures there will be enough money to meet the goals of your estate (i.e. whether there are enough assets or insurance to meet the financial needs of your loved ones or favourite charity).
While you need an Estate Plan no matter what your age, your Estate Plan should reflect your stage of life. While young couples might be concerned with wealth creation (i.e. providing continued financial support for loved ones), individuals who have accumulated wealth over their lives may be concerned about wealth preservation or preventing the erosion of their legacy by taxes.
Whatever your Estate Planning needs, we can get you started and on the right track.
Contact us for help.
Already have an Estate Plan? Great! Be sure to revisit your Estate Plan every few years or any time there has been a major change in your life. Contact us for an Estate Planning Review.
Managed Money Reporter Articles
Protecting Your Estate (Issue 161 Jul/00)
Insuring Your RRIF (Issue 124 May/97)
Perspectives on Estate Planning (.pdf 100k)
The Value of Estate Plans (.pdf 63k)
Estate Planning for Canadians (.pdf 430k)
Drafting Your Will (.pdf 167k)
Planned Giving Handbook (.pdf 170k)
Reflecting on your Cottage (.pdf 91k)
On the ScotiaMcLeod Website
Probate Planning Tips
Estate Taxation at Death
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