1. Beneficiary designations: check the designations on all your policies and products.
RRSP plans, pension plans, life insurance, savings accounts and portfolios should be reviewed to make sure that you have designated beneficiaries. Send your money to your loved ones, not the government!
2. Either review your Will, or get a Will: Many people do not have Wills. This is their ultimate love letter.
3. Complete our "Things You Will Need to Know When We Cannot Tell You” Summary:
Bank accounts, deeds, safety deposit boxes, even cash under the mattress, all need to be recorded, so that those you love will know where your things are.
4. Make sure that you have enough life insurance: remember that love letter in tip # 2? This is the cash in the envelope!
5. Take advantage of our "Estate Administration Services for Executors" (E.A.S.E). With Ontario's new Estate Administration Tax requirements, every executor should be aware!
Visit us at http://www.tedwernham.comto learn more about our processes that will grow wealth and save tax.
Follow these tips to prove "I love you!", is forever!