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Crafting The Memory

Welcome to Dave’s presentation on how to avoid Probate & Other Unnecessary Estate Settlement Fees. Crafting The Memory. A brief look at estate planning…. Dave Sharp, B.Sc.; CFP; EPC Certified Financial Planner Elder Planning Counsellor. How To Properly Eliminate

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Crafting The Memory

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  1. Welcome to Dave’s presentation on how to avoid Probate & Other Unnecessary Estate Settlement Fees Crafting The Memory A brief look at estate planning… Dave Sharp, B.Sc.; CFP; EPC Certified Financial Planner Elder Planning Counsellor

  2. How To Properly Eliminate Probate, Estate, & Legal Fees While At The Same Time Minimize “Administrivia” and Complexity

  3. What To Do… Use the RIGHT tool for the job What NOT To Do… Use a Joint-Ownership structure with your heirs

  4. Two Types of Assets Estate Forming Estate Bypassing The RIGHT tools for the job!!!

  5. Two Types of Assets Estate Forming Estate Bypassing Real Estate Life Insurance Stocks, Bonds, GICs Segregated Funds Mutual Funds GIOs Bank Accounts Etc… Etc… The RIGHT tools for the job!!!

  6. Cost Comparison Estate Forming Estate Bypassing Probate Fees: Probate Fees: 1.5% None Legal Fees: Legal Fees: $/hr or up to 4% None Accounting Fees: Accounting Fees: Variable None Executor Fees: Executor Fees: 3% - 5% None Fund DSC Fees: Fund DSC Fees: 0% - 5% None Total: Total: 1.5% - 15.5% or more None

  7. Privacy Comparison Estate Forming Estate Bypassing Assets in estate are listed in detail during the probate process. Assets bypass the estate, discretely passing to the named beneficiary. This list becomes a public record! Transfer is totally private and confidential! No Privacy!!! Total Privacy!!!

  8. Creditor Comparison Estate Forming Estate Bypassing Assets are not protected from creditors Considerable creditor protection available in most cases.

  9. Timeline Comparison Estate Forming Estate Bypassing Assets transferred when court process complete. Assets transferred when claim form completed. Need Letters of Probate to release funds. No external legal forms needed to release funds 3 to 12 months not uncommon!!! 1 to 4 weeks not uncommon!!!

  10. So, what is the solution? Speak to us about the use of financial products such as GIC’s and investment funds (segregated funds) sold through the insurance industry. You will find them very competitive in terms of costs and performances but more importantly, help avoid and eliminate those unnecessary Probate and other Estate Settlement losses.

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