Estate Planning – When Do You Need The Help of Professionals?Posted by zlcvancouver on December 16th, 2020 Estate planning in Vancouver is an important step that you can take to secure the future of your family. The best time to do estate planning in Vancouver is now because you never know what the future holds. There’s no guarantee that we will make it tomorrow or the next day. If you care about your family, start making plans for your estate. There are two ways you can go about with estate planning in Vancouver – on your own or with the help of professionals. You can hire a lawyer or an expert in estate planning and finances to help you organize your assets and properties. ZLC Financial will make sure that you don’t make crucial mistakes in estate planning in Vancouver. There are things that you can do yourself such as the following:
The first thing that you need to do when creating an estate plan is to identify your money sources. Where is your money distributed? Do you have them in banks? Do you have investment and retirement accounts? These are the things that you need to identify before starting with your estate planning in Vancouver.
That includes your real estate properties, vehicles, recreational vehicles, clothes, collections, jewelry, books, and many more things that you find valuable. You will also need to find people to bequeath these personal and valuable items.
If you have online accounts such as online banking, retirement, and investment funds, and social media accounts, make sure you also list down your login IDs and passwords and include them in your estate plan. A lot of times, people forget to include these things in their estate plan, making it harder for their surviving family members to access these accounts.
You can start doing this by yourself but you can also get the help of professionals if it proves to be too much work for you. You can hire professionals to aid you in collecting the information that you need, especially when it comes to your retirement plans and investments. It’s also a good idea to get the help of financial experts to determine how you will be able to bequeath your investment and bank accounts and avoid lofty estate tax costs. It’s also important to revisit your estate plan from time to time. If there are changes in your life that will warrant removing or adding an inheritor, you should hire a professional for that as well. Make sure your estate plan adheres to estate laws to avoid a lengthy probate process. With the help of professionals, you should be able to create an estate plan that will be executed without problems. Matt Knowles is the author of this article. To know more about Retirement Solutions Vancouver BC please visit our website: zlc.net Like it? Share it! More by this author |