Will & Estate Planning

 

 

When considering estate planning, two questions come to mind:

  • Do you have a Will?

  • And if you do, when is the last time you actually reviewed it.

Whether you are an individual investor or a business owner, each investor will have unique situations that need to be considered. Our goal is to help preserve the wealth you have created, enhance it without taking undue risk and transfer your estate efficiently to your beneficiaries.  We recommend strategies that address your wealth planning needs, ensure their implementation and provide ongoing advice and monitoring. Our team can guide you in taking the necessary steps to ensure your future is protected. 

Estate Planning

Estate planning is an essential part of wealth management, particularly if your estate involves significant assets (such as cottages or small businesses), complex issues (such as foreign beneficiaries) or multi-faceted relationships (such as blended families). 

When properly structured, an estate plan can simplify the distribution of your estate, provide adequately for family members, minimize taxes and expenses of your estate and protect your beneficiaries’ inheritance.

Will Planning

After you have spent a lifetime building your wealth, your Will gives you an opportunity to transfer the assets you have accumulated to your beneficiaries, including your family, friends or charitable organizations.

Is your estate plan comprehensive or just complicated? One of the best ways to ensure your plan covers all bases is to start with a basic questionnaire to uncover your true needs. There are many ways to customize your plan to accommodate seemingly complicated situations such as:

  • Dual citizenship

  • Business succession

  • Passing property to the next generation

  • Protecting dependents who are unable to manage wealth on their own

  • Equitable treatment of beneficiaries from blended families

Who is best suited to be the executor? Choosing the right person is the key to minimizing conflict with your heirs. You want to look for someone who is not only willing and able to handle your estate, but who also has the inclination to take on — and resolve — complex issues.

Will your beneficiaries benefit or be burdened?

Will taxes erode the value of your estate?

Ask us  for a free checklist  to help you identify the issues your estate plan needs to address.

Trust Planning

Integrating a trust (or multiple trusts) as part of your estate plan may provide significant benefits to you and your family. Typical benefits may include:

  • Tax savings

  • Protection of assets from creditors

  • Minimizing probate

  • Controlling assets and their distribution to various beneficiaries

  • Maintaining government benefits for disabled children

  • Assisting with your cottage succession planning

  • Ensuring privacy on the distribution of your wealth

  • Minimizing U.S. Estate Taxes

  • Facilitating business succession

When properly structured, utilizing trusts as the cornerstone of your estate plan may save your estate thousands of dollars in annual tax savings. Whether you have a large family business, a portfolio of investments, the proceeds from the sale of a residence or a significant life insurance policy, a trust may be a tax effective way of passing this inheritance to your beneficiaries.


Contact us for more detailed information in context of your unique circumstances and needs.

 

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