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- เผยแพร่เมื่อ 6 ก.ค. 2024
- With the pandemic rolling around this year, estate planning became one of the most discussed topics. Many new clients I meet do not have a good grasp of what estate planning is, some are even unsure what happens when a person passes away! In this video we will discuss the basics of estate planning, what is probate, probate fee, and how daunting the task of settling an estate can be if the deceased person is not prepared! I will be showing you 6 things you must have a conversation with your family and professional NOW in order to start out with a great estate plan in Canada!
#estateplanning #canada #finance
▼ Time Stamps
[0:00] Start
[1:16] What happens when someone passes away
[4:44] 6 tools you must consider
[5:20] #1: Passwords and Docs
[6:35] #2: Will
[10:45] #3: Power of Attorney
[14:03] #4: Beneficiaries
[14:55] #5: Insurances
[15:52] #6: Trusts
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Great video! Thanks for this info!
Informative and easy to understand. Thanks my friend.
Great info. Well explained. Thank you
Please do a detailed video on trusts in Canada. How to set up? Pros & cons? Costs? I’d really appreciate it Thank you
Were you able to find the answers to your great question. I am looking for similar information. Thanks
I wud also be interested 😮 in learning about trusts
This video was very informative and easily understood. Thank you.
Brilliantly explained!
Jacky, you are awesome! Thanks a lot.
You are excellent!!!!🙏🏼🙏🏼🙏🏼🙏🏼😊
Thank you! Great vid.... it has got me thinking about my kids future. :)
easily to understand this video. thank you.
love your content sir , keep it coming, watching from Windsor Ontario
Excellent video! 👍
Thank-you so much for all this information
I have been following you most of 2020.
I just moved to BC. And I can't wait to go housing job
Super informative
Great video. Like others have commented could you do something about trusts or provide some more info or a website about them and how it works along with a will.
Thanks Jacky. Would you do a video about Estate Planning for childfree people who may or may not be married? I think a lot of younger people are opting out of having children nowadays.
Can you talk more about trust?
Can you explain a deed of gift and trust
Great video. Could you do a video on retirement planning. I need a calculator or tool to know when i can retire and how much I will need
Jacky , can you do a video on the bail in & emergency order on your assets?
Would you say we are entering a buyers market?
Great informative video
Who can I go to create a family trust
Can you recommend a professional please
Thank You
Just subscribed. What type of insurance would one consider if one owns real estate & shares in private equity funds ? Thanks
Depends on your needs but a perm life insurance usually go hand in hand for clients who own similar assets as you
Thanks for the information Jacky. Do you provide virtual consultation?
yep, email us at jacky.teaches.finance@gmail.com we take ON/BC clients
Is my home protected from creditors? my wife is a joint tenant on my home title and i dont want her to be homeless if I pass away.
Get Bouchard & Company to do your estate planning. Best in business from Surrey BC.
Excellent video to follow with much appreciated information. Thank you!!
I would like to know more about assets inside a holding corporation and the possibility of selling shares to your children. Thank you
I need some info on trust fund.
Nice way of putting it, government does complicate our life's to the fullest. Can minor under 18 years old own part of my investment like real estate?
Technically yes but its super inconvenient to do something like this, maybe can put into trust and they are beneficiary
King estate only get fraction life plan
When you say "you can hire a professional executor", are you talking about a trust company? Because unless you have a very large estate, they aren't that interested in you, and they also don't like you to name beneficiaries on your RSP's and TFSA's, which is annoying. Or, are there professional executors that you can hire for a flat fee, and if so, how does one find them?
Some law firms also offer this. Usually fee is a % of estate FMV negotiated prior to working
Do I need to notarize a will in Ontario before the probate?
Nope wills do not ened to be notarized to be legal, but it can help in case of family conflict
Castle attack defence points
Am 30. Don't need this info right now. Still interested. Help.
What do you do if a charity beneficiary does not sign a release? We have been waiting for 2 years with out a response.
Write them, give dates as deadlines according to any legislation that applies in this scenario.
What Jennifer said above is good advise. Can also check with lawyer to make sure the action and deadline you give are complied with provincial law
Can i use the money from my trust
yes you can, but check with your cpa to make sure strcuture is ok to do so
For principal home pass to my children, do my children need to pay probate fee and capital gain for this asset?
No cap gain usually but yes probate
Thanks Jacky! For rental property, when I decease, my children need to pay capital gain tax and probate fee. Am I correct?
yep, also your rrsp is counted as income, thats also one thing people miss
Unfortunately my mother is in an Ontario hospital with Alzheimer. She has investments that I would like to cash in to get her into private care. The problem is her common law husband for the last few years is going to try to stop me from doing so for his own gain, so I was trying to figure out if he has any say in the matter? I'll check your page for other topics relatable. Thank you.
You can consult a lawyer to take over as guardianship but it may be difficult
Jacky, what city are you in?
Vancouver
Just wonder,are you the estate lawyer!wants to know more details
No sorry, financial planner!
gov never loses do they
vultures
Questionnable timestamps lol
Crap lol copy pasted from before
It’s seems like it was designed to be complicated. The less informed the individual, the more revenue for the government.
insurance for old people is not practical and/or very very expensive
depends on what needs to be insured, from estate perspective its still likely one of the cheapest way to fund a solution vs others
Still alive reading death threat haven't happend yet
Thank you, this was a great video.