Estate planning is the process of developing and maintaining a plan that will preserve your accumulated wealth and ensure an effective and beneficial distribution of your assets to your heirs. Putting an estate plan in place ensures that your family is cared for should anything happen to you.
Your estate plan outlines a framework to ensure a timely distribution of your assets upon death, while minimizing taxes and other fees. Developing your estate plan involves three basic steps:
- Making a list of your assets and liabilities
- Determining your objectives
- Preparing your Will
In order to establish this process, you should seek the advice of experts, such as tax, legal and financial advisors. Most often, once you have established a relationship with one of these professionals, he or she will be able to refer you to specialists in other areas of expertise.
While estate planning is a significant commitment, afterwards you can rest assured that you have a plan in place. A CIBC Wood Gundy Investment Advisor can assist you in developing a plan that will properly reflect your situation.
Use our Find An AdvisorOpens a new window in your browser. tool to locate a CIBC Wood Gundy Investment Advisor near you and take the first step to achieving the financial future you want.