Strategies for effective estate planning


If leaving a larger estate to your heirs is something you care about, you must take the necessary steps now by preparing a suitable estate plan.

Angela Iermieri* | Financial Planner | Desjardins Group

You work hard to build wealth and you want it to be transferred to your heirs according to your wishes?

A good estate plan aims both to obtain benefits during your lifetime and to build wealth for the benefit of those who are dear to your heart: your heirs. 

If leaving a larger estate to your heirs is something you care about, you must take the necessary steps now by preparing a suitable estate plan. 

Increase the value of your estate 
By adding an insurance policy to your investment strategy, you will enable your loved ones to receive a substantial tax-free sum when you die.

The advantages:
  • pay the tax on your registered assets, 
  • reduce the tax on future capital gains, 
  • increase the transferable value of your estate
Protect your assets!
Take for example a bequest of the family cottage to your children. If you want to leave them this property as an inheritance, but you are concerned that the taxman will take a bite out of your estate when you die, you can now provide for the amount of the tax bill that this transaction will generate upon your death. 

By taking out a life insurance policy that will cover the capital gains tax payable when you die, your children and grandchildren will have peace of mind and will be able to enjoy this inheritance. If you own a business, regardless of its stage of growth, adequate life insurance can help protect your assets from the taxman. Life insurance can also be an essential part of a sound succession plan. 

Wisely manage your investments
By optimizing your investments, whether through sound diversification of your portfolio or the use of an effective tax strategy, you will get the most out of your wealth and ensure your heirs' financial security.

3 objectives:
1. Maximize the return potential of your investment portfolio, 
2. Reduce your tax bill, 
3. Increase the value of the estate you will leave to your loved ones. 

The essential tool to achieve your financial goals is the financial plan. With the help of your advisor, you can set it up and establish strategies for effective estate planning, which seeks to minimize the tax payable on an estate and maximize the amount that will be passed on to the next generation


* Financial Planner and Mutual Funds Representative for Desjardins Financial Services Firm Inc.

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