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Dean Sinclair - Chartered Accountants - Pembroke
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Estate Planning

Estate planning is essentially deciding how property should be distributed at death but also involves having an updated will, minimizing tax on death and building your retirement assets.

Why you need estate planning?

A good estate plan allows you to choose your beneficiaries, maximize your assets while minimizing your taxes and costs.  Without an estate plan, your property could pass to unintended beneficiaries and cause unnecessary taxes and costs as well as additional stress on your loved ones.

Do you have an updated will?

An updated will is an essential part of any estate plan as it is the legally recognized document that allows you to choose how your estate is to be distributed.

Minimizing taxes

Minimizing taxes should be a key aspect of your estate plan.  While taxes cannot be avoided entirely, there are a number of ways to lessen your tax burden with planning techniques such as setting up a family trust, performing an estate freeze and utilizing your lifetime capital gains exemption.

Building your retirement assets

For many entrepreneurs, their business is their main retirement asset.  Since that is the case it is important that you maximize the value of your business through strategic planning.  We can help analyze your current situation, work with you to determine what your business needs, and help implement a plan that enables you to get maximum value from your business.

It might also be pragmatic to diversify your portfolio by investing in other assets such as RRSP’s to ensure that you have ample retirement assets.

Every estate plan will be unique so feel free to give us a call if you would like to discuss your personalized estate plan today!