Estate Planning & Preservation
Your home. Your cottage. Your business. Your savings.
You've worked your entire life to accumulate the wealth you have today. A well thought out Estate Plan lets you decide where that legacy will go. It ensures that the wealth you leave behind ends up in the hands of the people you care about... not the tax man's.
Whether it's to a loved one, a business partner or a favourite charity, you can instruct how your life's work will be disbursed... if you plan now.
At Strategic Investment Planning, our financial advisors help you with financial planning that's tailored to your life, your needs, and your wishes.
Start your financial planning today... because, the brightest future is the one you planned for.
Your Estate Plan
The legacy you leave for your loved ones. It allows you to better manage your family's financial future, as well as your own.
You decide on the kind of legacy you leave. Your loved ones can be left to struggle with dozens of questions and legal issues and paying unnecessary taxes. Or you can create an estate plan that will ensure your assets are passed along with no problems and minimal taxes.
Your Will
The foundation of your estate plan. It allows you to choose your beneficiaries and ensure that each gets exactly what you want.
One thing is for sure - you can't take it with you. So as long as you have to leave your assets behind, why not make sure they go where you'd like them to go? A Will gives you the power to do that. If you do nothing else about creating an estate plan, you should at the very least have a will.
Strategies to minimize on your estate taxes
When you reduce your taxes to the minimum, you can pass along more. You pay taxes all your life. Unfortunately you'll even have to pay taxes when you die. But there are ways to minimize those taxes, so why not take advantage of them? After all, who would you rather your money go to - the government or your loved ones?
Trusts offer great rewards and they're not just for millionaires
You can use trusts to protect your assets and simplify and speed their transfer to your beneficiaries.
Trusts: An important part of your estate plan.
Trusts can give you some key advantages in an estate plan. They can allow you to reduce capital gains upon death. They can allow you to defer taxes and split income to reduce taxes. And they can allow you to avoid the costly process of probate. In short, you should probably consider including a trust in your estate planning.
Charitable Giving
You might be thinking about incorporating charitable giving into your financial planning. Your reasons may be compassionate - to give back, to support a worthy cause, to uphold the teachings of your faith - or they may be motivated by personal gain - to lessen your tax burden.
We support charitable giving as a way to strengthen our communities and build a better world. There can be significant tax advantages as well.
Strategic Investment Planning can assist you with helping you figure out how much you can afford to give, work this 'giving' component into your budget, while taking tax issues into consideration, and evaluate giving opportunities.
Too many families go through unnecessary nightmares simply because someone didn't believe in estate planning, more and more people are realizing that estate planning is an essential part of financial planning and is one of the most important things you will ever do for yourself and your family.
If you'd like to discuss your estate planning with an expert call Strategic Investment Planning today at 705-798-2105 and speak with a financial planning professional.
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Michael Dumond
Susan McArter
© 2011 Strategic Investment Planning