Managing your finances raises a number of topics but none more important than planning for your family and finances in the event that you pass away or become incapacitated. Understandably, these are issues we do not like to talk about but it’s advisable to not fall into the trap of avoiding these difficult matters. Good estate planning will help to make sure that your wishes are carried out, and that your family and assets are well protected.
With this in mind, let’s take a look at the key areas that you should consider when designing your estate plan:
As with any financial arrangement, changes over time, not only in process and legislation but also in your own personal situation, mean that it is imperative to keep your estate planning strategy under review and regularly updated to ensure it remains effective and accurately reflects your wishes and objectives.
Jack is a graduate of the Family Enterprise Advisor Program given by the Sauder School of Business at UBC. He has lectured extensively to professional groups including the B.C. Institute of Chartered Accountants, as well as individual accounting and legal firms. He is co-author of, and has been instructor for, both the introductory and advanced life insurance courses for the Canadian Institute of Chartered Accountants. He often is called upon to provide expert opinion or testimony in legal disputes involving life insurance or advisor conduct.