ESTATE PLANNING | CP-Finance

Getting an estate planning example can be a tricky process, but it’s important to consider the various scenarios that might occur and to plan ahead. This will help to ensure that your heirs are not put in a difficult situation or that you avoid any unintended consequences.

Avoiding unintended consequences

Whether you’re planning for your own estate or that of a loved one, it’s important to consider the consequences of making a will. For one, there are often tax implications. It’s also important to consider how assets will be passed to the next generation. For example, if you’re planning on leaving one-third of your estate to your children, they may not receive that amount. You can avoid this by setting up a trust. A trust can ensure that assets are distributed at fair market value to your heirs.

Another thing to consider is whether or not you’ve included the proper …

Estate Planning Basics

Estate Planning and the Single Parent

June 26, 2020December 30, 2020

Kai is often a single professional woman. She had an unplanned pregnancy at 31 and decided to keep her child. The child’s father who had previously been in the mid-’40s wants not even attempt to do with the child and denied paternity. After positive DNA testing, Kia gets court-ordered supporting your children from the father, but no emotional relationship. Kia has sole legal custody. Kia shares your house with your ex widowed mother who will not feel she could care for her active 3-year-old grandson if something should happen to Kia. What are her estate planning issues?

Estate Planning is simply as essential for single-parent families since it is for same-sex couples. In this situation, if Kia does nothing, and something occurs her, the kid’s father could appear, take custody of the little one and his finances with little thought on other people in a child’s life for the reason …

Estate Tax

Estate Planning Attorney: Preparing for a Meeting

June 19, 2020September 22, 2020

You don’t technically have to do almost anything to plan for a celebration having an estate planning attorney. Just having taken the key to building a gathering is a bit more than many individuals take, and you will be proud and confident in your choice to advance with responsible financial progress. One of the worst things an individual may do to their heirs is usually to leave their assets in disarray. More often than not, it results in infighting, resentment, and family problems that can last a long time. You can avoid all the by causing specific plans beforehand. While you’ll be able to contemplate specific decisions using your lawyer, here are several things you may want to discuss before your meeting.

Guardianship

If you might have kids under the age of 18, one of the first issues you need to take into account is who’ll act as their guardian …

What Is A Trust Fund

The Rollercoaster of Interest and Debt

December 30, 2019September 22, 2020

Feel whoozy these days when you think about your mortgage and climbing interest rates? The Bank of Canada says rates may climb several percentage points this year. Homeowners, with floating mortgages and variable interest rates, may be hardest hit. More so, if you overextended your budget to buy the most home possible, at the lowest floating rate you could find. Now that great room may not seem so great. Even a one- or two- point rise in interest rates can mean hundreds of dollars difference each month on big mortgages. Where can you find those dollars to help you keep your home, and meet this rising cost?

Get professional advice. Even in extreme circumstances-illness, job loss, or other dire situation-there are experts who will show you how to save money-yes, even hundreds of dollars each month. These experts are often available to you for free, through your mortgage lender, bank, …

Estate Tax

How Can Doc Fees Affect A Real Estate Deal?

February 22, 2019June 28, 2019

So you are finally about to sign the contract on your new home. You probably think it’s safe to assume you know the price terms, since they’re what you offered to pay. You even understand how your real estate agent receives a commission for helping you find your home of choice, because you did your research. Is a doc fee now showing up as an unforeseen part of your home expenses in order to obtain access to your new home’s actual title?

A documentation fee is a price charged higher than and beyond the normal costs of employing a real estate agent and paying the purchase price of the home. You might refer to this as a hidden fee. A real estate agent, on the other hand, would likely refer to it as service fee for getting the appropriate paperwork for the title of your house and other …