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Estate planning is for everyone

Why should you be thinking about estate planning now? For one simple reason: putting prudent preservation strategies into practice can help to preserve the assets that you now have, as well as those that will accumulate during your lifetime. Good strategies can allow you to pass your assets on to your loved ones according to your wishes, rather than according to the inheritance and tax laws of the government.

For some people, that's reason enough to start planning now. But consider this—one of the greatest advantages of estate planning is the avoidance of conflict among family members. When you plan for how your assets will be distributed, you eliminate arguments over "who gets what." Add to that the fact that you may also reduce estate expenses, while shortening delays in debt payments and asset distribution, and it's easy to see why incorporating estate planning strategies into your financial plan makes good sense.

Life insurance

"There is no wealth but life." This quote comes from John Ruskin, known as the greatest British art critic and social commentator of the Victorian Age. His lofty view may be echoed by the feelings many baby boomers had in their youth—living for today was all that mattered. Today, however, with family and or business concerns in mind, such self-centered sentiments have largely been left behind.

Quite likely, preserving your estate for the benefit of your loved ones is a priority for you, no matter what your present age or income. We offer a variety of life insurance plans that can help your family keep more of what you've earned.

Proceeds from a life insurance policy can be used to cover the expenses and taxes that come with inheritance. And, by using effective planning techniques, you can designate exactly where, for what, and to whom your life insurance proceeds will be paid.

Long term care insurance

Long-term care insurance can protect you and your estate from the costly expenses of providing facility or in-home care. A lengthy stay in a facility or an illness or injury that requires in-home care for an extended period can wreak havoc on retirement plans by consuming up much needed capital. Long term care insurance (LTCI) is designed to supplement or cover those costs.

Disability insurance

One minute you're painting the trim on a second story window, and the next minute you've missed the next rung of the ladder. On your way to the ground, you might be thinking, "My ability to earn an income is exactly that—an ability. If I lose that ability, it will become a disability. Uh-oh!"

Okay, maybe those aren't your exact thoughts at that moment. But if your accident is severe enough, you'll soon realize the truth in those words. Of course, we all want to believe that a severe accident or disabling illness will never happen to us. But the fact is that there is just no way to guarantee that it won't. And when it does, it can cause a personal financial meltdown. We refer to this as a Critical Financial Event

That is the purpose of disability income insurance—to continue providing you with a portion of your income during an extended illness or accident, allowing you to meet your monthly living expenses. With such insurance in force, the assets in your estate can continue to grow, rather than being whittled away by bill payments and living expenses.

We can help you examine which disability insurance solution will help you best meet your monthly living expenses without jeopardizing the assets in your estate. Contact us today for a free quote on the best Disability Insurance for you.

Investments can help preserve assets

Investments can be a wise supplemental strategy for estate and asset preservation. For most people, setting up an investment program requires professional assistance. An experienced financial professional knows that it takes careful planning to define your needs and goals, well before investments are made.

We can help to provide you with a varied selection of segregated funds, GICs, and more to help you preserve your assets. Working with you, we can help design sound investment strategies tailored to fit your specific risk tolerance and retirement goals.

Annuities

As a supplement to life insurance and long-term care insurance, non-registered or “open account” annuities and RSPs can also act as an estate and asset preservation hedge. Some annuities grow tax-deferred using fixed or variable investment options. On the day you open your annuity, your deposit begins to work for you. Year after year, your growth compounds, while strengthening the value of your annuity. With proper planning, such funds can be utilized for estate/asset preservation, providing a guaranteed income or guaranteed death benefit, in the event that they are needed.

Many annuity products take maximum advantage of the power of time and compound growth. They provide estate preservation backup funds to you or your beneficiaries, and can be set up so you or your beneficiaries will never outlive the income they provide.

Investment funds

Working hand in hand with annuities, investment funds create an estate and preservation hedge. Be sure to take the steps necessary to “bullet proof” these assets by consider the use of insurance backed segregated funds.

We work with you and your other advisors (accountant, lawyer, etc.) to develop a comprehensive Estate Plan that works for you using "tried and true" methods. You can use this plan to ensure that your assets pass intact to your intended heirs with a minimum of taxes, or that your business receives the tax-free capital it needs to survive your demise.

Key Benefits

Featuring Me First ! planning
Unique solutions that work for you
Logical planning process that will generate a plan that works for you and is flexible enough to adapt to your ever changing situation

Our capabilities

With over 19 years' experience, we work with you to choose not only the right product mix, but also the right amount of coverage. Whether your needs are basic, and we use our unique "Replacing Your Paycheque" approach; or if your situation is more complicated and we use our "Income and Estate Analysis" planning software, we will analyze your situation and prepare a written, easily understood analysis and recommendations. This will include several options for your consideration.

Should you wish to proceed, we will work with you and your other professional advisors to ensure your plans are put in place.

Simple Plans

Replace a percentage of your paycheque with tax-free dollars to ensure your family and heirs are sufficiently looked after in the event of your untimely demise.

Complicated Plans

We prepare a detailed Estate Plan to ensure your heirs and beneficiaries are treated fairly and equitably. This will provide a blueprint for future reviews.

Tax and Business Planning

Design a plan to fund your tax Liabilities at death with tax-free dollars and avoid "Estate Shrinkage" and the "Ripple Effect". Design an Estate Bond to ensure that your family and business partners receive fair and adequate value for your shares in the business on a tax-preferred basis.

Are you taking an active approach to preserving your assets and estate for your loved ones?

Take the first step by contacting us today to begin looking at your alternatives.