Estate planning is very necessary

Don't be unprepared for the unexpected with your money

Some may not want to talk about it, but having a plan in place will help you to have less stress because you know everything is looked after.

Here are four important reasons for having an estate plan:

1) To control who receives and manages your assets. You have the opportunity to decide who receives how much, you can ensure that your named executor is willing and able to accept the responsibilities and you can name a money manager for any trust assets.

2) To minimize administrative and legal fees. If you have everything in place, costs will be lower than giving professionals (who usually charge by the hour) more work to do.

3) To transfer a greater share of your assets to your heirs and charities. You have the opportunity to plan a tax stategy that will maximize assets to be distributed.

4) To protect your heirs. It may be the black sheep of the family, or a disgruntled second spouse/partner that would like to have the money you intend for your beneficiaries.

An estate plan is not meant to be a one time exercise, here are the top reasons for ongoing review:

1) Marriage or second marriage.

2) Divorce.

3) Death of a spouse or beneficiary.

4) Birth of a child or grandchild.

5) A significant change in net worth.  Examples are receiving an inheritance, stock options or a retirement allowance.

6) The purchase of a house, primary residence or rental property.

7) Purchase or sale of a business.

An updated will is usually a starting point, but there are many other factors to consider. Your advisor will be able to provide you with an estate planning checklist which is a good reference  for your estate plan.

Dotting all the Is and crossing all the Ts by documenting your assets and your wishes is a great way to sleep easy.




For further information, Carol Plaisier, CFP®, Investment Advisor with DWM Securities Inc., can be reached at the DundeeWealth office in Parksville (250) 248-2399, or by email: Web:



This article was prepared by Carol Plaisier, CFP®, FMA, AMP (Accredited Mortgage Professional) who is an Investment Advisor with DWM Securities Inc.  This is not an official publication of DWM Securities Inc. and the  views (including any recommendations) expressed in this article are those of the author alone, and they have not been approved by, and are not necessarily those of DWM Securities Inc.

DWM Securities Inc., Member-Canadian Investor Protection Fund, is a DundeeWealth Inc. Company.




Just Posted

Rainbow crosswalk in Qualicum Beach covered in mysterious black substance

‘It was disappointing to see this act of disrespect take place inside our community’

Oceanside RCMP hunt for man after pair of indecent exposure incidents

Elderly woman grabbed by man who had been masturbating in the woods

Nanoose Bay traffic update: paving postponed but closure extended on Northwest Bay Road

Mainroad Contracting halts paving while City of Parksville waits on contractors

Group aims to preserve French Creek tree

Save Estuary Land Society says bald eagles used tree for nest

Farewell to Parksville Beach Festival for 2019

People’s Choice Awards tallied, organizers report another successful year

VIDEO: Title of 25th Bond movie is ‘No Time to Die’

The film is set to be released in April 2020

‘Unsubstantiated’ bomb threat against CP Rail in Revelstoke

On Aug. 18, a bomb threat was made against CP Rail in Revelstoke

Victoria father charged with double murder of his daughters takes the stand

Andrew Berry pleaded not guilty to the December 2017 deaths

Coroner’s inquest into fatal police shooting in Port Hardy begins in Campbell River

James Reginald Butters, 24, killed in 2015 after RCMP responded to call of male uttering threats

New ‘Matrix’ film set with Keanu Reeves and Lana Wachowski

Fourth installment to feature Reeves as Neo and Carrie-Anne Moss as Trinity

Catholic church buys $7.5M equestrian facility in B.C., plans ‘agri-retreat’ centre

Church hopes to grow crops, host students and others on Bradner property

New regulations require training for B.C. addiction recovery homes

Inspections, standards replace ‘wild west,’ Judy Darcy says

Trans Mountain gives contractors 30 days to get workers, supplies ready for pipeline

Crown corporation believes the expansion project could be in service by mid-2022

66% of B.C. residents want opt-out system for organ donation: poll

Support was lowest in Ontario and the Atlantic provinces

Most Read