Essentials of Estate Planning
Did you know that the majority of Canadians do not have a signed will?
For many people, estate planning is a subject they avoid or put off.
And yet, without one, your loved ones could be without the funds they need for day to day expenses; your children could be provided with guardians you may not approve; and your estate could potentially be tied up for years.
For other people, this subject is rife with questions.
Do you need an estate plan? What are the components of estate planning? Why is it important? How difficult is it? What professional assistance do you need? Can you write a will yourself? Who should be your Executor? What’s a Power of Attorney?
When all is said and done, Estate Planning is a way of ensuring that your assets are distributed according to your wishes, in the fastest, most convenient, and most tax-efficient way. During a difficult time, it will reduce stress for your loved ones.
A great financial literacy resource, The Learning Centre can provide you with valuable information with an educator-specific twist, and help answer many of your estate planning questions, including needing a will, choosing an executor or power of attorney, and what professional assistance you’ll need.
Start your Estate Planning Series reading today:
At Educators Financial Group, we’re committed to helping education members with all their financial needs, including developing an estate plan.
If you are looking for guidance to ensure that your assets are distributed according to your wishes, in the most convenient, effective and most tax-efficient way, have an Educators financial specialist contact you today.
The information in this article is general only; it is not intended as specific investment, financial, accounting, legal or tax advice for any individual.