Estate Planning
WHAT IS YOUR ESTATE?
Your Estate consists of your house, other real estate, personal property, insurance, bank accounts, stocks, bonds, investment products, and pensions.
WHAT IS ESTATE PLANNING?
Estate Planning deals with the management of your assets while you are still alive and the distribution of those assets after your death. Elements of estate planning may include:
- Create a will
- Create a living will or healthcare proxy
- Make funeral arrangements
- Name the executor of the estate
- Assign power of attorney
- Ensure your property, 401Ks, RRSPs, IRAs and bank accounts are titled properly
- Establish a guardian for a minor or disabled person
- Limit estate taxes by setting up trust accounts in the name of beneficiaries
- Establish annual gifting to reduce the taxable estate
- Set up a charity or private foundation
WHAT ARE THE BENEFITS OF ESTATE PLANNING?
- You choose how you want your assets distributed upon your death
- Minimize taxes
- Avoid probate
- Make your own decisions regarding medical options should you become incapacitated
- Preserve wealth
- Transfer wealth
Your estate plan is not a static document; we can change and modify it as required to reflect changes in your life and your goals. With an expertise and a wealth of experience in Canadian and U.S. estate tax legislation, C2 Global Law will help you to achieve your estate planning goals. Contact us to discuss an estate plan as soon as you have a measurable asset base.