Estate planning is an important planning tool that can significantly simplify the process that your executor and beneficiaries experience after your passing. Proper estate planning can allow you to retain more of your assets, protect your estate and leave a legacy for your family.  As with most things in life, no two plans are alike, as everyone owns different assets and has different wishes when they pass. There are three areas we focus on when preparing an estate plan for our clients:

1 Tax Minimization

When someone passes away and there is no surviving spouse, all the individual’s assets are considered, by the CRA, to be disposed of at the date of their passing.  This can result in an unanticipated and undesirable tax bill for the Estate. With an estate plan, we can estimate the amount of taxes owing based on the assets held by the individual and find solutions on how to minimize those taxes. 

2 Will Review

A regular review of your will is essential to an estate plan because it ensures that the contents still reflect your wishes. The will review is also essential as it can help identify unaddressed tax issues inherent in your Estate.  

3 Organization

One of the greatest struggles that executors and beneficiaries encounter is the unknown. An effective estate plan consolidates your information to make the estate process easier for your loved ones. A properly detailed estate plan can also help create efficiency for your executor and the beneficiaries.

Contact Nadine Granson, CA, CPA or Brett Ficiur, CPA, CFP® to learn more. 

Nadine Granson

Nadine Granson

Nadine’s expertise lies in first-rate audits for nonprofits and creating comprehensive estate plans for individuals.

Service Expertise: Estate Planning , Audit , Wealth Management
Industry Expertise: Non-Profit , Public Sector