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Avoid disaster, draft after-death plan

<p>“You can’t take it with you” goes the old saying — but, fortunately, you can build an estate plan that takes care of the loved ones you leave behind.</p>




“You can’t take it with you” goes the old saying — but, fortunately, you can build an estate plan that takes care of the loved ones you leave behind.





It’s estimated that almost 50 per cent of affluent households in Canada have not developed a written plan for the financial management of their estate after their death. “It’s a recipe for disaster,” said Tom Junkin, senior vice-president, Fiduciary Trust Company of Canada.





“Failure to consider how your wealth will be passed onto future generations results in an incomplete wealth plan and can create legal battles and family feuds,” said Junkin.





Combining your investment blueprint with a will and estate plan to transfer your wealth is one of the most important things you can do to preserve your financial legacy.





An estate plan establishes how you wish your assets to be distributed after death so your beneficiaries receive the greatest benefit possible.


 
 
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