Avoiding ProbateWe all know that probating an estate can be costly and time consuming. Fortunately, there are some simple steps that retirees can take to lessen the burden of probate on their estate and we can help.
Setting up beneficiariesAssets can be passed directly to your loved ones and avoid the probate process by naming beneficiaries on insurance policies and registered accounts. Ask us today how we can help you review your investments and insurance policies to be sure you have the best interests of your estate in order.
Positioning your investments
How you set up your ownership of investment accounts and other assets greatly determines whether or not they will go through probate when you pass on. A very common strategy is to use joint ownership of assets and accounts. There are some potentially very negative results in using joint accounts and we can advise clients on all of the positive and negative aspects.
It has been said that the best estate plan is marked on the calendar when you plan on going and then give everything away a week before. While very few of us can pull this off, you can gift to your adult children very easily in Canada. Let us help you determine an appropriate gifting plan for your estate by contacting us anytime.