The value of naming a beneficiary
When reviewing one’s estate plan, segregated funds should be considered. This is because you can name a beneficiary on both non-registered and registered contracts. And with the ability to name a beneficiary comes several powerful benefits.
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Death, Fees and Taxes
When you die, for taxes purposes, you’re deemed to have disposed of all of your property. So for non-registered assets, you could trigger a capital gain or capital loss. There’s also something called probate fees in most provinces.
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Protect your estate after you’re gone
What is estate planning?
Estate planning is the process where you lay out your instructions as to how your assets should be distributed. Who they are to go to, when they are to go to them and in what form. And of course, you want to do this in a very thoughtful way.
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