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An estate plan helps connect what you have built with the people, organizations and intentions that matter to you.
Matthew Lawrence, QAFP®, Financial Advisor, helps you consider how insurance, beneficiary designations and available financial resources can support an orderly transfer and reduce the decisions left for others to make.
ESTATE AND LEGACY PLANNING GUIDANCE IN NIAGARA. PROUDLY CANADIAN.
ESTATE AND LEGACY PLANNING GUIDANCE IN NIAGARA. PROUDLY CANADIAN.
An estate can be valuable and still be difficult to settle.
An estate can be valuable and still be difficult to settle.
Wealth may be tied up in a home, farm, business or other assets that cannot be divided or sold quickly. Taxes, debts and final obligations may arise before cash is readily available.
Beneficiary designations can become outdated, family members may have different needs and an equal division may not always produce the intended result.
Without coordination, families can inherit financial pressure and difficult decisions along with the assets they receive.
Turn good intentions into a workable plan.
Turn good intentions into a workable plan.
Estate and legacy planning begins with who and what matters to you and not with a particular product.
Matthew helps you consider your assets, liabilities, ownership arrangements, beneficiary designations and existing insurance together. Potential liquidity needs and gaps can then be identified before deciding whether additional insurance has a useful role.
Your lawyer prepares the legal documents. Your accountant advises on the tax implications. Matthew helps connect the financial pieces and implement appropriate insurance solutions.
The strongest estate plans connect every professional.
The strongest estate plans connect every professional.
You work directly with Matthew to clarify what you want your estate to accomplish and how the available financial resources support those intentions.
His QAFP® background provides a broader perspective on how insurance connects with investments, retirement income, family needs, business interests and charitable goals.
Where appropriate, Matthew can work alongside your lawyer and accountant so each professional understands the intended outcome and the financial strategy supporting it.
What can estate and legacy planning consider?
What can estate and legacy planning consider?
Beneficiaries and Family Circumstances
Beneficiaries and Family Circumstances
Who you intend to provide for and whether particular beneficiaries have different needs.
Liquidity and Estate Obligations
Liquidity and Estate Obligations
How taxes, debts, professional costs and other obligations could be funded without forcing an immediate sale of assets.
Beneficiary Designations
Beneficiary Designations
Whether the designations on insurance policies and registered accounts remain consistent with your intentions and legal documents.
Homes, Farms and Businesses
Homes, Farms and Businesses
How significant or indivisible assets might be retained, transferred, sold or shared among beneficiaries.
Estate Equalization
Estate Equalization
Whether insurance or other resources could help provide balance when different assets are intended for different people.
Charitable and Legacy Goals
Charitable and Legacy Goals
How you may support a charity, community organization or future generation through your estate.
The objective is not simply to maximize the amount transferred. It is to make the transfer more deliberate, practical and consistent with what matters to you.
Frequently Asked Questions
Frequently Asked Questions
Is a will enough to complete an estate plan?
Is a will enough to complete an estate plan?
A properly prepared will is essential, but it may not address every financial issue. Ownership, beneficiary designations, liquidity, insurance and tax considerations should also be coordinated with it.
Does everyone need life insurance for estate planning?
Does everyone need life insurance for estate planning?
No. Insurance is useful only when it addresses an identifiable need, such as creating liquidity, supporting a beneficiary, funding an obligation or balancing an inheritance.
Can life insurance help equalize an estate?
Can life insurance help equalize an estate?
It may. For example, one asset could be left to a family member who is involved with it while insurance or other assets provide value to other beneficiaries. Legal and tax advice should form part of the arrangement.
When should an estate plan be reviewed?
When should an estate plan be reviewed?
A review may be appropriate after changes involving your family, health, business, property, beneficiaries or financial position. Periodic reviews can also help identify documents and designations that are no longer current.
Start with what you want your estate to make possible.
Start with what you want your estate to make possible.
You do not need to have every document updated or every decision finalized before beginning.
Complete the short form and tell Matthew what you would like your estate to accomplish. He will follow up personally to discuss your priorities, existing arrangements and the next professionals or planning steps that may be appropriate.
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