ESTATE PLANNING
"Destiny is not a matter
of chance.....it is a thing to be achieved"
Author Unknown
Good financial planning is ensuring your loved ones are taken care of after you die. Estate planning is comprised of two major goals.
The first, to ensure that the property which you have accumulated over a lifetime is used and distributed, both prior to and after death, in a manner which is consistent with your desire; second, to help preserve this accumulated property by taking steps to minimize the taxes which can cut into an estate, both prior to, and upon death.
(250) 390-1995 1-800-668-7558
Zulak Financial Group Ltd.
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Decoding the Probate Mystery
By Dina Stigas
"Clients will often inquire about probate and the associated costs when turning their minds to estate planning.
Although clients should be referred to their lawyers and/or accountants for professional advice regarding these matters, it is helpful to have some understanding of the topic.
In Canada, except Quebec, when a person dies with a valid Will, the Executor (also referred to as the Executor and Trustee or the Estate Trustee) appointed under the document is responsible for administering the estate of the deceased.
In order to be able to deal with the assets of the estate, the Executor will typically need to apply to the appropriate court for a Grant of Letters Probate, also referred to as "probate". Probate verifies that the Will was properly executed and that it is the last Will."
