Estate Preservation – Have You Started To Plan?

I am finding that more and more investors are requesting my assistance in monitoring the tax efficiency and distribution of their estates. What is surprising is that so few have taken the time to create and estate plan that can help organize their assets, minimize taxes and pass along their estate in the manner they intend.

The predictable result: excess tax can be paid on retirement assets. When the time comes to settle the estate the value may be substantially diminished. Many people simply have not made estate preservation a priority.

Just getting started is often the most difficult step you’ll take. Once you’ve made the commitment to get started, you’ll find it’s far easier than you think. Consider the following questions:

• How will you preserve your assets from taxes and unnecessary probate?
• How will you ensure the fair and timely distribution of your estate according to your wishes?
• How will you protect your family in the event of your premature death?
• How can you minimize capital gains taxes – during and after your lifetime?
• How can you preserve your RRSPs or RRIFs in their entirety for you heirs?
• How can you create wealth and enhance income on a tax-favoured basis?
• Do you have an updated will?
• Have you established a power of attorney – financial and quality of life?
• Are your intentions clear regardless of which spouse dies first?
• What trusts (family or spousal) have you put in place in order to income split?
• Do you have any assets that may attract US or foreign estate taxes?
• Would you like to make any provisions for how and when your heirs are to have access to your assets?
• Have you though about the succession of a family business in the event of your death or disability? What about a partnership that you may be in?

Proper planning can ensure that your estate is managed according to your objectives and we will provide answers to your questions. Jot down some issues that you feel are pertinent to you and call me so that we can find a solution.