Estate Planning

Estate Planning An important foundation of financial planning

If we view financial planning as a way you build assets, estate planning can be viewed as a way of preserving those assets both before and after your death. And estate planning is not just for the wealthy either.
Your home, your RRSPs and other investments all become substantial assets that must be considered in estate planning. Most people put off estate planning, yet the process can often involve things that take effect while you are still alive - a living trust is one example. You may want to pass the family business to your children so future capital gains will be taxed in their hands. Preparing a power of attorney in the event you become incapacitated is also very important. All of these things fall under the realm of estate planning. The best place to start is to have a lawyer draw up your will and power of attorney. You will need legal advice to make sure your wishes are properly carried out.

Additional Information
Estate Planning What is Probate? Probate Fees Estate Planning Using Life Insurance Gifting Keeping the cottage in the family Limiting CRA's Share of Your Estate Joint Ownership of Assets Power of Attorney Trusts Wills
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Why you need an Estate Plan 6 Basics to Estate Planning Estate Planning & Your Will Estate Distribution Without A Will

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