Estate planning allows you to be remembered the way you want. You decide on the kind of legacy you want to leave – one that reflects your wishes and gives purpose to what you've accomplished in your life. It also ensures that your financial legacy flows through to your heirs with the least amount of tax or other fees possible. Without estate planning, this likely will not happen.
“Many people put off making an estate plan because they think it's going to be time-consuming and an overwhelming process, “said Jason Round, Head, Financial Planning Support, RBC Financial Planning. “While it may take some time, when you consider the end result, it is well worth it.”
Estate planning involves:
• Knowing your net worth
• Creating a will
• Assign a Power of Attorney
• Determine your beneficiaries
• Appointing your executor
• Decide how you will distribute your assets
Working with a Financial Planner can help to ensure you know the ins and outs of estate planning and provide you with the advice and support to create your legacy.
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