Financial Planning: Estate Planning
Estate Planning
reflects a clients wishes regarding their assets during their lifetime and after. It
outlines who gets what and when, and usually with as little tax as possible.
On death, estates are divided between heirs, charities and
the government. We suggest a "tax fire drill" to understand what income
and probate taxes would be payable under the current situation. This gives us an
opportunity to discuss some planning alternatives that would result in lower
taxes.
Estates can involve other people :
- Powers of Attorney for
- financial
- personal care matters
- Executor(s) of an estate
- Guardian(s) of minors
We review the issues concerning Wills and Powers of
Attorney and can prepare information for client's legal advisors to draw up these
documents
We can assist with Estate Documentation and review with the
client and Estate Executor(s) to ensure an understanding of their responsibilities and the
client's wishes.
We also can assist in the preparation of a Guardians Plan
to outlines client's expectations and Guardian's responsibilities and the resources available to them.
Insurance products can play an important role in the
preservation of estate values especially when there are non-liquid assets involved, like a
family cottage.
We would be pleased to discuss this with you. |
