For Your FREE Consultation with Rob, simply fill out the form and directly book your strategy session in his calendar here: https://robtetrault.com/speak-to-rob/ Register to our FREE Retirement Masterclass - https://bit.ly/2THZzNj Register to our FREE Alternative Real Estate Investing Masterclass - https://bit.ly/34ySkgB 📽 Watch our other video on Old Age Security | Old Age Pension | Canada Pension Plan: https://youtu.be/Yv_ig3rk47U The Estate is a sum of everything that you own. Estate Planning In Your Retirement: 1) Determine your goals 2) Start with creating a Financial Plan - Look into how you can optimize the estate. 3) Update the following documents - Will - Power of Attorney - Living Will - Health Care Directive - Beneficiaries updated on every account - Insurance 4) Avoid large tax bills on death 5) Divide assets fairly amongst next generation (example: through an insurance policy) 6) Estate Taxation -RRSP & RRIF is tax deferred money. Once you pass away, typically these can roll over to the spouse. When 2nd person passes away, that's when taxes are due. (close to 50% of the amount from those accounts). -Through proper planning, we aim to withdraw from it to lower that tax rate. -Non-registered assets are a deemed disposition. Taxes are owned on that capital gain. -Your home is complete tax-exempt provided that it's your principal residence. Cottage and rental properties will have a deemed disposition on death and are NOT tax-exempt. 7) If you're a sole proprietor… - When you pass away, business just stops 8) If you have a corporation... - The value of the shares of the owner that passed away are subject to estate taxes and deemed disposition rules. - How to liquify the estate - A whole set of rules that apply for every scenario - Possible capital gains tax and/or additional dividend tax 9) Get your estate plan done early 📽 Watch our other video on How To Prepare A Sound Retirement & Estate Planning Strategy: https://youtu.be/ibUMkB9mdnU For more information on Rob & The Tetrault Wealth Advisory Group, click here: https://robtetrault.com/about/

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