Applestock & Associates helps clients with the financial side of estate planning.  Do you want to control how your assets are distributed when you die?  Do you want to leave your family with financial security and peace of mind?  Do you want to protect your assets, and avoid paying unnecessary taxes and fees?  As experienced estate planners, we’ll give you the estate planning tips and advice you need to make that happen.

financial planning 2  Estate Planning: Why do you need an Estate Plan?

       financial planning 2  Choose your legacy

An estate plan will preserve and protect your assets for you and your heirs— including children, dependents, beneficiaries, charities, etc.  And, an estate plan gives meaning to what you’ve accomplished in life.  You decide how your assets are distributed, and how you want to be remembered when you pass away.  Everyone needs an estate plan— whether your estate is large or of modest value.  An estate plan should be part of your overall financial strategy, and based on solid financial planning principles.   

       financial planning 2  Protect your family

An estate plan allows you to better manage your family’s financial future, and ensures they’ll be taken care of when you pass away.  Thinking about your own mortality is unpleasant— but no one wants to leave their loved ones with legal issues, financial stress, and paying unnecessary taxes when they die.  That’s why estate planning is so important.  If you pass away or become incapacitated, an estate plan guarantees that your assets are transferred smoothly, with no delays and minimum taxes.   

       financial planning 2  Don’t make the government an heir

Without a proper estate plan, you risk losing up to 75% of your non-residential real estate to Revenue Canada when you pass away.  You’ve worked hard for your assets— don’t risk losing them to the government.  Instead, create an estate plan with a financial advisor and ensure that 100% of your wealth is transferred to your children, dependents or other beneficiaries of your choice.

financial planning 2  Why hire a financial advisor?

Applestock & Associates works with clients to ensure that, at death, they don’t have to pay any unnecessary fees—or have their hard-earned investment money locked up for a long period of time due to an estate settling issue.  We also work with clients and small business owners who would like to use an insurance policy to pay off debt at death, or buy-out ownership in a small business.

A financial advisor can provide insight, educate you and “hold your hand” throughout the estate planning process.  We’ll also reveal alternative solutions you haven’t considered, or didn’t know were available.  We help you ensure that your heirs get the most out of the assets you set aside for them— and that you leave behind the legacy you want. 

financial planning 2 Main Goals of Estate Planning

  • Plan for the future and your eventual passing
  • Transition assets smoothly at death
  • Transition assets in the most tax-preferred method
  • Avoid unnecessary taxes and fees at death
  • Use life insurance strategies to help transfer assets

financial planning 2 Top 3 Estate Planning Tips

Planning ahead is important: The sooner you have an estate plan in place, the more money you’ll be able to save for yourself and your family.  Get the most out of the estate planning process.  Follow these tips, and take control of your financial future.  For more estate planning tips, and advice to suit your unique needs contact us today. 

  1. Place large investment accounts in joint with your spouse or partner
  2. Think about who you would want to make decisions when it came to health and financial matters
  3. Consider whether you want to pay your taxes in small increments while you’re alive— or do you want your estate to pay the taxes?

financial planning 2 An Estate Planning Trust

Trusts are a great way to manage your assets.  An estate trust will protect your assets and resources when you die, and speed up their transfer to your heirs.  An estate trust isn’t just for the wealthy— most people would benefit from having one in place.  How does it work?  You choose a trustee, either an individual or a trust company, to manage your assets on behalf of one or more beneficiaries.  And, when you pass away, the trustee is given specific instructions for how to manage the assets on behalf of your heirs.  There are many other benefits to creating an estate planning trust, including potentially deferring taxes and splitting income to reduce taxes.  Applestock & Associates helps clients set up in-trust accounts for their grandchildren, and other beneficiaries.

For estate planning advice you can depend on— contact us today.  Applestock & Associates is located in Markham, ON.  We service clients in Toronto, Scarborough, Etobicoke, East York, North York, Richmond Hill, Aurora, Newmarket, Vaughan, Maple, Woodbridge, Markham, Pickering, Whitby, Ajax, Mississauga, Brampton, Hamilton, Oakville, and Milton.  We also make house calls to individuals who cannot get to us.

Mutual funds provided through FundEX Investments Inc.