We've all seen it - someone passes and leaves behind wealth, and suddenly once friendly friends and family can turn into different people once money is involved.
We can help you to ensure that your Will is executed properly and to the letter as per your wishes, whether you are rendered incapable by mental incapacity, die of an accidental death, or or old age or health problems.
With our partners, we can ensure that the people executing your Estate are loyal to only one thing - your final wishes.
Often loved ones are burdened with this task, while they are greiving. Let us show you how to have professionals do this for you - usually at no up front cost to you - ranging from dealing with day to day Executor Services to handling legal challenges against your Will.
Whether you want to leave behind a legacy of wealth for your heirs, or that cherished family vacation home or even an investment property, we can help you reduce the tax burden on your estate to make sure that you are leaving behind what you intend to.
There's no need to leave behind a large tax bill that could endanger the wishes outlined in your Will.
As people are living longer, and medical technology advances, sudden death events like heart attacks and cancer are starting to take second stage to long term mental incapacity issues like dementia and Alzheimers'.
Burdening your family with paying your bills, negotiating your caregiver agreements, and ensuring you are well treated by your service providers when you are no longer capable of doing these things yourself robs them of the last years they get to spend with you.
We can have it arranged that a fiduciary Trustee can look after these matters for you - so your family and friends can do what you would want them to do, enjoying their own lives and spending quality time with you as you age.
Don't feel like leaving behind a legacy of cash, investments, real estate or other assets? Perhaps you have no children, or don't intend to leave behind assets to them.
Perhaps you have what could be a significant estate. Believe it or not, many people actually need to spend more money before they pass, as they have been such avid savers all their lives (and have significant real estate gains) that they have the best problem to have - they have too much money.
We can run models to determine how much you can spend, so you can spend it while you are still alive, in the most tax efficient manner possible.
RRSPs and RRIFs are fully taxable as income at the time of death. This means that nearly half of those savings will be going to the government as part of your estate.
Any vacation or investment properties will also incur capital gains (which may be huge in the premier markets in Canada) forcing your heirs to sell just to cover taxation.
We can help you insure against these tax liabilities so that your estate is executed according to your wishes, and identify potential liabilities that you may not have recognized.
The best time to insure against tax liabilities is always right now. The younger you start, the lower the cost.
Whether you are an owner or partner in a corporation, we can help you plan for either your exiting from ownership or protecting the corporation from an untimely loss of your life.
If a co-owner of a corporation passes, it may be difficult for the beneficiaries of your estate to "buy out" your other co-owner and you may end up leaving little behind in an estate to buy out a partner in a business they have no idea how to run. On the flipside, they may not have any idea how to come up with the money if they would like a family business to remain in the family.
There are also ways to get money out of the corporation tax free while you are living.
We can help you with these complexities by bringing in the correct professionals to meet your needs as a business owner.