Do you have a will? If yes, when was the last time you dusted it off? Do you know who is designated as a beneficiary on your insurance policies and/or your investments? Estate planning is not something to be taken lightly - getting some advice on the front end, can make all the difference for a smooth administration after your death.
Today, I am joined by special guest, Christine van Cauwenberghe, Vice-President of Tax and Estate Planning (IG Wealth Management). We break down what you need to know about three main topics: (1) the do's and don'ts of beneficiary designations (7:15), (2) things to watch for with joint ownership (24:01), and (3) how to deal with the "big" tax - the income tax liability on death - and why it is more important to worry about than probate fees (33:45). We also do a bit of "lawyer math" :) and highlight some key questions that you should be asking your advisors.
RESOURCES DISCUSSED ON THE EPISODE
- New York Times - "The Daily": https://www.nytimes.com/column/the-daily.
- Wealth Planning Strategies for Canadians (15th Edition): https://store.thomsonreuters.ca/en-ca/products/wealth-planning-strategies-for-canadians-2021-30908506
MORE FROM CHRISTINE:
- Website: https://www.igprivatewealth.com/en/about-us/christine-van-cauwenberghe
- LinkedIn: https://www.linkedin.com/in/christine-van-cauwenberghe-28829913/
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