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Wills and Estate Planning in Canada
 Wills
and Estate Planning are common terms and phrases used for those
considering succession planning. Unfortunately individuals
in most cases spend little time talking and planning about Wills
and Estate Planning.
“If you have Assets or an Estate, you probably
need a Will”
A carefully planned and drafted Will is the base
of an Estate Plan. Without a Will, provincial legislation shall
dictate how and where your assets will be distributed after your
death – This might not be the way you planned!
Estate Planning Professionals at Guaranteedinvestments.com
have knowledge and years of experience that can help plan your
Will and distribute your assets. This may include complexities
such as creation and management of trusts with tax and investment
responsibilities.
Wills and Estate Planning are equally important
and go hand in hand. Individuals cannot do proper Estate
Planning, without having a Will in place.
The Will
“A Will is a written document that sets out one’s
personal wishes about how his or her Estate should be taken care
of and distributed after death. A Will only comes into effect
once the Will writer dies”.
The Estate
“An Estate is a property or a set of assets that
one owns and has legal rights on”
It is extremely important to have a proper Estate
Plan and an updated Will at all times. In drafting your will,
you will need to consider a wide variety of factors obviously
including who your beneficiaries are. In naming beneficiaries,
when it comes to Wills and Estate Planning, keep in mind that
individuals can name beneficiaries on life insurance and some
insurance based investment products including Guaranteed Investment
Funds, Guaranteed Minimum Withdrawal Benefit Plans, Guaranteed
Lifetime Withdrawal Benefit Plans, some Annuities and even certain
GICs. Information on these types of investments can be found
at Guaranteedinvestments.com
Estate Planning – Experienced Planners
Proper Estate Planning involves all aspects of planning
including the effects of taxation on death. The benefits
of certain investment products offered through Guaranteedinvestments.com
is that it allows for the direct passing of assets without going
through probate thereby saving the estate a substantial amount
of money.
The advisors at Guaranteedinvestments.com have years
of experience in Estate and Trust Planning. If you are over
55 years of age and have investments in either Registered Funds
including RRSPs or RRIFs, or non-registered funds, contact Guaranteedinvestments.com
to schedule an appointment for an investment review to ensure
your investible assets are passed on to your heirs in the most
efficient manner possible.
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