For some people, financial planning is mainly concerned with how best to go about building a nest egg, and how to make it last through retirement. But for many, there is a desire to ensure their estate delivers benefits beyond their own retirement, and produces a lasting legacy even after they have passed.

Why Estate Planning Is Important

If you wish to leave behind a lasting legacy, whether it’s for family and loved ones or a charitable institution, then you need to put a well-thought-out Estate Plan in place, so your legacy is established in accordance with your wishes. 

If you wish to ensure that you are in control of what happens to your estate, and if you want to guarantee that your estate is handled in accordance with your directives, then having an Estate Plan is paramount.

What We Can Do For You

Our Estate Planning service includes:

• Helping you understand the importance of a will: Your will should be the cornerstone of your Estate Plan. We can help you understand why and how you should structure this document so your legal team can create a will that reflects how you want your Estate disposed of. From a simple will to a Testamentary Will, or Joint Wills and Living Wills – Danielle and Therese will work with your attorney to help navigate through the complexities so you won’t need to stress over what’s what!
• Creating Powers of Attorney (POA): Whether it’s to manage specific assets, like your investments, bank accounts or real estate holdings after your gone; or whether it’s meant to help others make health-care decisions in your best interest in case you are ill or incapacitated, you need to have a POA in place to ensure your wishes are followed. A well-crafted POA will also smoothen how decisions about your final arrangements, and those related to your estate, are taken care of once you pass.
• Choosing Executors: The Executors of your Estate wield strong powers that determine how your Estate is finally dealt with upon your passing. We’ll help you understand the importance of choosing an executor (s) for your Estate, and what criteria you should consider when appointing someone to discharge this all-important role – especially if minor children/guardians are involved.
• Designating beneficiaries: We help keep the beneficiaries up to date so your assets end up in the hands of individuals that you intend for them to.
• Considerations for dependents needs: A well-thought-out Estate Plan will ensure that all of the needs of your dependents (be they minors, adult children, siblings, persons with special needs or aging parents) are taken care of in accordance with your desires.
• Tax planning considerations (minimizing Estate taxes and reducing probate fees): Without a well-thought-out Estate Plan, a considerable part of your estate could erode through taxes, fees and other levy’s, even before your designated beneficiaries receive the remainder of the assets!
• Preserving your estate: Though you might no longer be here, many of your assets – like your long-term investments, property and other tangible assets – will likely need care, preservation and management until they are finally disposed off, and the proceeds distributed to your designated beneficiaries.
• Health and welfare considerations: A comprehensive Estate Plan contains several components, including directives to your Executors and POA-holders about what to do in case your health (mental or physical) deteriorates. In the absence of those components of your Estate Plan, decisions impacting your health and welfare might be made by others (likely medical professionals or state-appointed representatives).
• Distributing your assets/legacy: Without proper Estate planning, your assets might not be distributed in line with your final wishes. Creating legally-binding wills and ensuring the Estate Plan are in sync is essential to ensure proper distribution of your estate, Danielle and Therese will support you in this endeavor.

This information is not intended to be a substitute for specific individualized tax or legal advice. We suggest that you discuss your specific situation with a qualified tax or legal advisor.