It is a common perception that Estate Planning is only for business owners or estate owners but this is wrong. Estate planning is for everyone who possesses valuable assets and wants to pass those on to their children or loved ones. Assets can be anything, house, property, car, savings account, life insurance policy or investments. Have you ever wondered what will happen to the assets and possessions you own after your death? Estate planning in Brampton will help you in making sure that you keep your loved ones financially safe and passed on your assets as per your wishes. 

All About Estate Planning

Estate planning is a financial tool that makes sure that your possessions are passed on to the individual of your preference after your demise. Estate planning comprises a set of documents that define your different wishes i.e. health care, distribution of your assets and valuables, even allows you to decide who will take care of your dependent children and even pets after your demise. It helps you plan what will happen to your possessions as well as loved ones who are dependent on you in case of your death. 

Estate Planning also helps you in reducing your expenses and save on taxes by efficiently regulating the estate’s operations and finances. The vehicle helps in the easier and smoother transition of assets without getting into legal complications. It avoids any legal or family conflict between your loved ones or business partners after your demise. Estate planning can be tiresome and need special expertise. For Estate Planning in Canada, several financial advisors can guide you. SJ Financial is one of the trusted and renowned financial advisors in Brampton. We have been providing Estate Planning services in Canada for several years now and have been helping our clients in building effective financial planning strategies, especially in Brampton. Don’t get stressed out while estate planning, our team of experienced financial advisors are always available to assist you. 

To know more, call us now!

How Does Estate Planning Works?

Estate Planning enables you to take charge of your assets and valuable possessions and make decisions that help you in achieving your financial and personal goals. You can set rules and regulations that will govern your business and pass on assets to your loved ones as you wish. With Estate Planning you can formulate different legal structures or documents that will regulate the functioning and distribution of assets after your demise. Legal documentations and structures that fall under Estate Planning are

  • Will Formation
  • Formation of Trust
  • Setting out designations of beneficiaries
  • Gifts
  • Power of Attorney
  • Ownership of properties/ assets
  • Powers of appointment

Apart from these, other legal documents will help you in Estate planning. SJ Financial specializes in building strong financial strategies that will help you in securing your business and valuable assets. We discuss your business operations, lists of assets in detail and how you want to plan your financial future. Based on that we suggest further steps.

Benefits Offered By Estate Planning 

  1. Financial stability: Estate Planning offers financial stability by helping you manage both families as well as your estate responsibilities simultaneously. With the assistance of a good financial advisor in Brampton, you can keep your family’s financial future secure as well as fulfill your professional obligations and can maintain your integrity.
  2. Smooth and faster transition of money and assets: Estate Planning enables you to decide on the advanced fate of your business, investments, valuable possessions, money etc. after your demise. You can legally decide so that once you are gone your loved ones do not have to face any legal complications or conflicts in the transfer of assets and wealth. 
  3. Responsibility/ guardian of minor children: Apart from financial decisions you can also decide in case of your untimely demise who will become the guardian of your minor children. This way you can leave your children in safe and trusted hands. 
  4. Save on taxes: with strong and efficient estate planning strategies you can save on taxes you are paying. SJ Financial can help your financial planning in Canada which will result in saving on taxes. 
  5. The benefit of probate: It depends on person to person whether to take the benefit of probate or avoid it. You can use probate strategically for ensuring that after your demise your hard-earned money and assets are given to the person you want to without any legal complication or dispute. 

SJ Financial simplifies the estate planning process for you and our financial planning experts in Brampton will guide you at every step. We help you gain maximum benefits and fulfil your estate planning goals. We are always available for assistance.

You can reach us through call/email 

Estate Planning Checklist You Must Follow

Step 1: Analyze your present financial condition, do thorough research about other financial tools that can help you with the situation and then go with the option that will benefit you the most.

Step 2: For increasing the benefits make a list of actions that can result in the increased value of your existing assets.

Step 3: Calculate tax liabilities you have and list out ways to reduce them by planning business operations and personal decisions. 

Step 4: Take out time and review business documents i.e. agreements, will etc.

Step 5: Make an estimate of cash you have in hand and estate liquidity, and check whether the amount will be enough to settle estate taxes and make final settlements. You can count the worth of insurance policies like life or disability insurance as your liquid asset. 

Step 6: Make sure you make a strategy that maximizes your retirement income. 

Follow the estate planning checklist Canada and you will be able to build efficient estate planning strategies and make the right decisions leading to maximum benefits. You can anytime call us and take the help of financial experts to maximize your gains. 

Get In Touch Now!