An estate trustee is responsible for performing various duties to encourage the wellbeing of the estate in question, as well as its beneficiaries. Among those duties includes careful and thoughtful investment in order to bolster the strength of the estate. There are three main rules pertaining to this duty, and by following them diligently and […]
When you have a will, it’s crucial to keep it up to date and current. And if you have undergone changes that can affect your beneficiaries, you should review your will and consider making an amendment. Depending on the complexity of the changes, you may be able to draft a codicil instead of an entirely […]
When it comes to creating a will, you should also become familiar with the probate process. This approval process is crucial for your estate and your executor. Applying for a probate approval confirms that your executor is the right person to be handling your money after death and ensures they’re using the most recent version […]
Your vacation home is a special place for you and your family to unwind and recharge. That can all change quickly if you don’t have proper estate planning in place when leaving your vacation home to your heirs. Whether you own a cottage on Eagle Lake or a chalet in Canmore, there are many estate […]
Estate freezes conveniently help lock in your capital assets at its current Fair Market Value (FMV) so that there’s no further capital gains and tax liabilities on its future growth. This strategy provides several benefits to both the owner and the beneficiary when transferring a business. Let’s take a look at the various freeze strategies […]
Every family has their own complications and sometimes a death can exacerbate existing problems. When a parent dies and they are survived by their adult children who don’t have the most harmonious relationships or dynamics, this could affect their inheritance. Disputes between heirs in an estate distribution is a very common occurrence, and unfortunately can […]
Estate planning is no different from any other industry when it comes to the need to update its practice in order to accommodate the changing digital world. Transferring ownership of digital property owned by an estate is becoming a problem in the online world. It’s quite common for people of any age, but even those […]
Life is busy and requires non-stop planning to accomplish everything you need to do on a daily basis. We aren’t often prompted to plan as far ahead with our estate, but it’s much better to plan in advance than have your spouse, children, or siblings struggle to distribute and settle your estate with little to […]
When naming a beneficiary for each of your financial assets, the obvious choice may not always be the best choice. You should consider tax and estate planning implications, among other things. We have listed important items you should consider when naming beneficiaries for major financial assets: Tax-Free Savings Accounts With a Tax-Free Savings Account (TFSA), […]
It’s the sad reality of the world we live in, but conflict surrounding money within families is all too common. There are no set rules or guidelines when it comes to siblings and money. We have listed three typical situations that you may find yourself in that involve your family and money, and some strategies […]
*The opinions expressed are those of the author and not necessarily those of Assante Financial Management Ltd.