Estate planning is extremely important as this process will help you make sure everything is taken care of financially after you die. Most people completely ignore estate planning and because of this sometimes family members are left with headaches, stress and the financial burden of getting a loved one’s estate in order.
Dealing with estates after someone passes away can be very time consuming, and can cost the estate potentially tens of thousands of dollars.
Regardless of your net worth it’s important to have some sort of estate plan in place. Many people think estate planning is only for the rich, but this is the furthest thing from the truth. The whole idea with estate planning is to make sure all of your affairs are in order so no surprises show up to family members or executors of your estate down the road.
A good financial planner, and estate lawyer can help you with your estate planning. Your accountant, and banker can also be extremely important in this process. The accountant can help you determine the best possible ways to avoid huge tax bills, and to make sure you comply with all local tax laws.
Your banker can also be important as they can help you detail all of your assets to make sure everything is covered with your estate planning.
Watch this episode with financial planner Jeff Gregory of Desjardins Financial where he will discuss estate planning, wills and more on Real Estate 101.
For more information on financial planning, or if you need the help of a top financial planner contact Jeff Gregory
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