Estate Planning Fundamentals
I’ve been told there are two things in life that one cannot avoid: taxes and death. Although not everyone’s two favourite topics, there are steps one can take to make a difficult time a little less strenuous, and one of those steps is a properly administered estate plan.
Estate Planning is a comprehensive process put in place to ensure your loved ones are well cared for after your death. This includes creation of a will, the transfer of assets to your intended beneficiaries and minimizing taxes.
The actions you take now can ensure a smooth transition. The concept of estate planning is not just for the wealthy, as everyone can benefit from a well thought out plan. Some important things to consider are the structuring of asset ownership and the decreasing of probate fees, as well as legacy and charitable donation wishes.
