jlumsden@assante.com

The Estate Documents Conversation

When estate planning it is important to have a conversation

Excerpts from the Book – Preserving Wealth – written by Jack Lumsden, MBA, CFP® Living through the COVID-19 Pandemic has made more people review their estate plans and ensure they have what is required. A critical part of this review is to include an Estate Documents Conversation with their family.  The point is, why create […]

Planning your Will and Powers of Attorney

Will and Power of Attorney planning

A common question we received is what we should consider when planning our wills and powers of attorney.  The following excerpt from the Book – Preserving Wealth describes this. APPENDIX C: PLANNING YOUR WILL AND POWERS OF ATTORNEY Introduction This document contains background information regarding the planning of your Will and Powers of Attorney. Its […]

Can we give money to our children to help with a home purchase?

Home Purchase for Children

In meeting with clients a common question we hear is, “Can we give money to our children to help with a home purchase?” With real estate prices today, the only way many young adults can afford to purchase a home is with help from the bank of Mom and Dad. People often ask if there […]

Trusts for Retirees – Probate Planning

trust for retirees

When estate planning, most retirees wish to review strategies to avoid probate fees, which in Ontario are 1.5% of the value of the asset that is distributed via a will.  A potential client asked, “Can trusts be used to avoid probate costs when we transfer assets to the next generation?” The answer is yes. For retirees, […]

The Three Estate Buckets

Estate Buckets

Annually with clients, we review how their estate will be distributed to their beneficiaries. We determine if there are any changes in their desires, or opportunities to save taxes and/or fees. In a recent webinar by  Michael Kitces, Mathew Jarvis, a US Financial Advisor, shared a concept he uses with clients called the Estate Buckets. I […]

What do I do if I don’t want to be an executor?

Executors

The question that arises occasionally from clients is: Can you turn down the role of an executor if you are named one?  Why turn it down? You may not want to be the executor due to family conflict, or the job may be too much for you. So, can you turn the role down?  The simple […]

Who should you name as Executor?

naming your executor

Excerpts from the Book – Preserving Wealth – written by Jack Lumsden, MBA, CFP® A common question I received as an advisor is whom should we name as executor in our Wills? The true answer is that it depends on your situation. It usually ends up based on how complicated your estate may be, the […]