What Estate Planning Covers

 

1. Life Insurance

Life insurance provides immediate cash when your family needs it most. It pays off debts, replaces lost income, covers funeral costs, and ensures your family maintains their lifestyle.It also covers tax liabilities on RRSPs and RRIFs, funds business buyouts, and equalizes inheritances among children.

 

2. Beneficiary Designations

Your RRSP, TFSA, life insurance, and pension allow you to name beneficiaries. These designations bypass your will and probate, meaning money goes directly to the people you name.We make sure your beneficiaries are up to date and structured properly—especially if you have minor children, multiple marriages, or complex family situations.

 

3. Wills and Powers of Attorney

Your will dictates who gets your assets, who manages your estate, and who becomes guardian of your children.Powers of attorney designate someone to manage your finances and healthcare decisions if you become incapacitated.We don't draft these documents, but we help you understand what decisions need to be made and coordinate with your lawyer.

 

4. Tax-Efficient Wealth Transfer

Without planning, your estate could lose 30-50% to taxes .RRSPs are fully taxable at death. Real estate and investments trigger capital gains. Probate fees add up. We structure your estate to minimize taxes through spousal rollovers, strategic RRSP withdrawals, Capital Dividend Account strategies for business owners, and insurance-funded tax payments.

 

5. Business Succession

If you own a business, who takes over when you're gone? How is the transition funded? How do we protect your family's financial interests?We create succession plans that ensure your business survives, your partners are bought out fairly, and your family receives their share—all while minimizing tax exposure.