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Ease the financial burden and provide security for your loved ones

Estate and Succession Planning for Individuals

Preparing for succession after death is a difficult issue to discuss, but it is also an important part of any comprehensive financial plan.

I can help you and your loved ones approach succession planning in a constructive manner that ensures they avoid problems and are well cared for in the event of your death. The process involves two main considerations: life insurance and preparing a will.

Life insurance

Life insurance can ease the financial burden and provide security for your loved ones in the event of your death. A lump-sum payment can be used for mortgage costs or to supplement lost income, helping your successors during a difficult period. Financial security and stability can make it easier to cope with the loss of a loved one. Insurance can also help pay the probate fees and taxes due after death in order to maximize your estate to give as much as possible of what you spent your life creating.

A written will

A written will provides a means to guide your loved ones through the succession process. By naming your executors and providing instructions on the distribution of your estate, your surviving loved ones avoid having to guess your wishes. Rather than provincial law determining how your assets are to be divided - a situation that can result in lengthy court proceedings with the result often being nothing like how you would have chosen to allocate your estate - a clear, carefully considered written will provides clear instructions to your successors. Once you have accumulated wealth or personal and business assets or in the event of marriage or divorce, it is important to ensure you create and update your will and properly planning for your succession while you are alive.

Call 604-636-1908