Will your loved ones be okay financially when you are gone?
The answer to this question may make you realize how important estate planning is when it comes to protecting your assets during your lifetime and ensuring they are distributed according to your wishes after your death. Some common estate planning tools include wills, trusts, life and long-term care insurance.
Will you be prepared?
What is the one thing that every living adult should have? That’s right … a will. A will is important even if you don’t think you have anything of value to pass along. Here’s why. If you die without a will, the laws of the province in which you live will determine the division of your property and assets without any consideration of your wishes, or the wishes of your family members. This could result in significant conflict within your family when it comes to items of sentimental or monetary value. Other matters that will be decided without your input if no will exists include guardianship of minor children and the executor of your estate.
There are many things to consider when creating an estate plan. Due to the complex nature of tax and estate laws, it is strongly recommended that you obtain professional legal and tax advice. And remember to update your estate plan whenever you have a major life change such as a marriage, divorce, birth or death in the family.
Estate planning products
For your estate planning considerations, segregated funds offer attractive features. Segregated funds are investments within a life insurance contract, so the proceeds of your segregated fund contract can be paid directly to your named beneficiary. This bypasses the probate process and its fees,*(1) saving time and money for your heirs.*(1)
The ivari Guaranteed Investment Funds contract offers a great combination of growth and protection through a variety of investment options, insurance guarantees and estate planning benefits. Select from a variety of professionally managed investments that range from individual funds to portfolio solutions. As you plan your estate, work with your advisor to choose the investment solution that’s right for you.