Who Is Your Legacy For ?
Who Is Your Legacy For ?
We believe in the power of preparation to safeguard your legacy and ensure the well-being of your loved ones. Estate planning is not just for the wealthy; it's a crucial step for anyone who wishes to make informed decisions about their assets and family's future.
The cornerstone of your estate plan, directing how your assets should be distributed.
For those seeking additional control and efficiency in asset distribution.
Ensuring someone you trust can make decisions if you're unable.
Outlining your wishes for medical care if you cannot communicate.
Direct asset transfer methods like life insurance and retirement accounts.
Protecting your assets from unforeseen creditors.
Minimizing taxes to maximize what your beneficiaries receive.
Ensuring dependents and loved ones are provided for in your absence.
Supporting charitable causes close to your heart.
Streamlining the probate process to ease the burden on your family.
Discussing your goals and gathering necessary information.
Crafting documents that reflect your wishes accurately.
Putting your plan into action to ensure full coverage.
Updating your plan to reflect life changes or legal shifts.
What Could Happen Without a Plan ?
What Could Happen
Without a Plan ?
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Estate planning ensures your assets are distributed according to your wishes, minimizes taxes and legal fees, and helps avoid disputes among your loved ones. It's about protecting your legacy and providing for your family even when you're no longer there.
Without a will, your estate is distributed according to provincial laws, which might not align with your wishes. This can lead to potential family disputes, unexpected beneficiaries, and a longer, more costly probate process.
A will details how your assets should be distributed after death and can name guardians for minor children. A living trust (inter vivos trust) takes effect while you're alive, offering more control over asset distribution and privacy benefits, as it typically doesn’t go through probate.
A will details how your assets should be distributed after death and can name guardians for minor children. A living trust (inter vivos trust) takes effect while you're alive, offering more control over asset distribution and privacy benefits, as it typically doesn’t go through probate.
HOW DO YOU ENSURE YOUR CHILDREN ARE TAKEN CARE OF IF SOMTHING HAPPENS TO YOU ?
In your will, you can designate a guardian for your minor children, ensuring they are cared for by someone you trust. Setting up a trust can also allocate funds specifically for their upbringing and education.
Yes, it’s increasingly important to include digital assets like social media accounts, online banking, and cryptocurrency in your estate plan. Specify how you want these assets handled and provide necessary access information securely.
HOW OFTEN SHOULD YOU UPDATE YOUR ESTATE PLAN ?
It's wise to review and potentially update your estate plan every 3 to 5 years or after major life events such as marriage, divorce, the birth of a child, significant changes in your financial situation, or changes in estate law.
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