Desjardins Financial Security

Estate Planning Services

The Importance Of An Estate Plan ‑ Life Insurance

Tax-exempt benefits
First Step:
Securing your life insurance

  • Tax-free death benefit
  • Tax-free accumulation
  • Tax-free distribution
  • Tax-free transfer

The notion of estate planning can be daunting. It’s actually simple, keeping as much as possible of your wealth for your loved-ones.

Whether you’re starting out in a new career, raising a young family, saving for a child’s education or looking forward to retirement, it’s never too late to think about estate planning. In fact, it’s empowering, liberating and keeps you young.

Why You Should Have An Estate Plan:

*Your heirs and beneficiaries can avoid paying a large tax bill after your death when your property, investments and any other assets are sold.

*This federal, provincial and capital gains tax bill could potentially take a large bite out of your net value.

*One way to legally avoid paying it is by transferring your assets to your spouse. *What this will mean is that a larger bill may need to be paid by your heirs and/or beneficiaries. With the right advice and planning, your heirs and beneficiaries can be spared a large tax bill.

Desjardins Financial Security

The Importance Of An Estate Plan – Creating A Will

Peace of mind
Second Step:
Taking a snapshot of your financial situation

  • It’s important to know how much you have.
  • In other words, what are your assets and liabilities.
  • Plan on how to pay them off or distribute them to your family and friends.
  • The ultimate goal is to protect your assets.

Your legacy
Third Step:
Creating a will and a living will

  • A will and a living will are different but equally important parts of your estate plan.
  • Your will outlines how you would like your assets to be divided.
  • The living will defines your medical instructions for your doctor and family in case you’re unable to speak for yourself.

Wills can easily be completed with help from a lawyer or notary. How does this work for you?

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The Importance Of An Estate Plan – Executor / Power Of Attorney

Estate settlement
Fourth Step:
Choosing you executor and power of attorney

  • Select a power of attorney and an executor.
  • Your power of attorney and executor are two essential people in your estate plan.
  • The person with power of attorney will have the legal authority to make medical decisions on your behalf per your living will.
  • On death, your executor will be legally responsible for ensuring that your estate is settled as defined by your will.

It’s important that you choose wisely and keep your loved ones informed of your choices.

Estate planning
Fifth Step:
Seeking legal and financial advice

  • It’s very important to obtain as much information as possible so that your estate plan is solid and legal.
  • Seek advice from a financial planner and a lawyer to ensure that your estate plan is well organized, detailed, and complete.

Consult experts to find out more about creating your estate plan and other related financial solutions.

Contact us to discuss your Estate Plan.

*Mutual funds distributed through Desjardins Financial Security Investments Inc.

As a financial planner at DFSIN and DFSI, I look forward to meeting you and understanding your goals and needs.

As a professional in the field of insurance and investments, my understanding of people's goals and aspirations has created a lasting bond over two decades. The key to their success has been my passion for excellence.

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