Estate planning (continued)

It’s April already and the winter sports season is winding down. This time of year also brings the date – April 31, 2019 –  by which you must produce your tax return, sending it off the Revenue Canada and Revenu Québec, and paying what’s due (if that’s the case).

In March, I wrote that it could be wise to consult a professional in estate planning to transfer assets in order to limit the tax impact. Read it here.

At the same time, you could take advantage of the opportunity to look at your will or estate plan.

You can also check out what’s provided in terms of estate planning by your financial institution; there is generally a consultation service available that allows customers to have a meeting about this.

Several key elements could incite you to take another look at your situation and make changes to your instructions.

Here are a few possibilities: new relationship; starting a family; divorce; moving/purchasing/selling a business; death of a life partner; death of the liquidator /executor or beneficiary; acquisition of assets outside the country; change of province or country of residence, etc.

When you experience one of these changes, reviewing your will and estate plan are probably not a priority. However, small adjustments at this point can avoid later, bigger problems caused by a will that’s not up to date.

Experience shows us that, in most cases, following a consultation, we’ve been able to suggest strategies that can reduce the fiscal impact, protect the estate related to the distribution and defer or spread out the amounts being managed.

If you have questions about this or would like to check some information before making an appointment to meet with a will planning specialist, I invite you to contact me. I have several tools that could guide you as you consider your options.

I hope to have the pleasure of meeting you on the slopes or après skibefore the season ends.



Francis Couillard38 Posts

Francis Couillard est Vice-président, gestionnaire de portefeuille et conseiller en patrimoine. Vice-President, Portfolio Manager & Wealth Advisor.


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