estate planning

Using a Trust to Avoid Probate Fees

When Simon's father passed away two years ago, he didn't think much about how his estate would be handled. His mother had died five years before, and his dad's will was clear about how his assets would be divided. Then came probate, a process to confirm the validity of his will. Not only did unexpected fees come out of his dad's estate, it took almost a year to settle and distribute it.

Helping Adult Children Buy A Home

With the average price of a home in Canada 1 costing roughly $530,000 in 2020 , it's getting harder for first-time buyers to enter the market. This is likely why a growing number of parents are stepping up to help their adult children purchase a home. While it's admirable to offer this level of support in an increasingly expensive world, it's also a complex decision that both parents and their adult children should ponder carefully.

Leaving a Legacy

Recently retired Ross and Penny have an estate planning challenge. They've accumulated a comfortable net worth, with a good portion of it in liquid investments. They plan to leave everything to their three adult children, but they also want to help them financially right now. The problem is that all of their children have a different relationship with money than Ross and Penny. In a nutshell, the parents are savers and the children spenders.

Pages

Subscribe to RSS - estate planning

Subscribe


Click Here for Current Issue

* 
* 
* 


Email marketing by AdvisorNet Communications Inc

Book a Meeting