What can a Financial Planner do for you?
Would like to discuss how you can plan for a smooth and efficient transfer of your life’s work?
Contact me for your free financial analysis today.
What is the first step in the preparation of your Will?
Another point to consider is that if one dies without a Will in Canada, provincial courts take on the responsibility of distributing your Estate. You do not want this to happen.
A free Will Kit is available for you to download to assist you in preparing your Will.
Please contact me today for your free advice.
A Power of Attorney is a powerful document best made with the advice of a lawyer. With this professional advice, you can feel confident your documentation accurately reflects your wishes.
Purposes of Power of Attorney:
Without this document, your family might have to apply to the courts before any decisions could be made regarding your property or your personal care.
It is important to note that the Power of Attorney ceases at the death of the person granted the power.
This type of document outlines the wishes of an individual in the event of incapacitation or the inability to make decisions for one’s self.
Although Power of Attorney distributes power to assigned individuals to make decisions, in the same situation a medical directive clearly states what, if any, actions should be taken in the event that a person requires life support, feeding tube, respirator or any other care which may prolong life.
The importance of this document is the removal of guilt to whoever will be forced to make that decision at such a critical moment.
Please see our Estate Planning Checklist for a comprehensive guideline.
A common mistake which is made by many of us is the neglect to compile important documents in a secure and orderly fashion. These documents should include:
For a more comprehensive list please see our Estate Planning Checklist.
These documents should be kept in a safe and secure location and should be readily available for your Power of Attorney, your Executor, and your Financial Advisor.
If you require any further information in regards to this subject, please contact us here.
There is great emphasis put on the accumulation of wealth in our Modern Day World. We have all witnessed the TV ads which emphasis success strategies for growing our individual pots of money. One of the biggest weaknesses in the Financial sector today is the creation of efficient methods to transfer our hard earned money to the next generation.
Similar to the creation of any masterpiece, this transfer of wealth requires great skill and the patience of a seasoned artist. Unfortunately, many of our large institutions are focused on volume, thus quality and personal interaction are often sacrificed.
Tailoring solutions require time and discussion so that a vision can be created to satisfy both present and future needs.
If you would like further information regarding the transfer of wealth, please contact us here.
A legal guardian is an adult designated to care for your child in the event that you and his other parent both die before he reaches adulthood. While the thought of that might make you shudder, you need to choose a guardian so the courts don’t do it for you.
If you think your mother or sister will automatically receive custody of your child if you die, you’re mistaken. Unless you specifically name a guardian in your will, anyone can step forward and ask for the job, and a judge will decide who wins custody.
If you and your spouse or partner have separate wills, you should name the same person as the guardian of your child to avoid conflicts. Many parents also name an alternate guardian in case their first choice is unwilling or unable to accept the responsibility.
Deciding who will raise your child in your absence is one of the toughest decisions you’ll face as a parent. Many parents say the first step is to admit that no one is good enough.
Once you get past the idea that the best parent for your child is you and no one else can compare, you can move on to choosing the next best person. Make a list of all the possible candidates, and then sit down with your partner and talk over the pros and cons of each one.
Here are a few things to think about while you’re going through the process:
The one certainty that each of us has is that we will all leave this earth at some point in the future. Our final departure will create expenses and the cost for this send-off will vary depending upon the complexity of our estate. A comprehensive review can ensure that no sudden or hidden surprises come to light at such a stressful and emotional time.
Although many Canadians believe that final expenses encompass the cost of a funeral, many families are left with the unfortunate task of dealing with:
Depending on the complexity of the estate, many people are left with insufficient resources to deal with the financial burden created by the loss of a loved one.
If you would like to have more information regarding your final expenses, please contact us here.
The sale of a business or the sale of shares in a corporation can sometimes provide a huge challenge depending upon the circumstances surrounding this sale or disposal. The sale of an active business or a going concern usually attracts a great deal of attention. The opportunity to purchase a business which is generating income presents new investors with a projected return on any capital outlay.
The negotiations will usually require a 3rd party to conduct the flow of offers and acceptance of any formal agreement. Taxation and terms of any agreement can vary and often times create the most difficult challenges to any transaction. These agreements can determine the ability or inability to obtain 3rd party financing in the event that capital is required to finance the deal.
If you require any further information with regards to the sale of your business or shares, please contact us here.