What is Estate Planning?
In simple words, Estate planning is thinking about and writing down how you want your assets preserved, managed and distributed in the event of your death. It also takes into account the management of your properties and financial obligations in the event that you become incapacitated.
Assets that could make up a person’s estate include houses, cars, stocks, artwork, life insurance, pensions, and debt. People have various reasons for planning an estate, such as preserving family wealth, providing for a surviving spouse and children, funding children’s or grandchildren’s education, or leaving their legacy behind to a charitable cause.
The planning includes the bequest of assets to heirs and the settlement of estate taxes. Our background in law and chartered accounting and our experience places us in a unique position to hep you create a plan that is right for you.
Basic steps in Estate Planning
The most basic step in estate planning involves writing a tax-efficient will and a power of attorney. Depending on your personal circumstances we are available to discuss and advise you on: