Estate planning with Lighthouse Money Management

Estate planning is important so that everything you’ve worked hard for ultimately passes on to your loved ones.

As we build a career, and a life, we accrue valuable assets, such as the family home, significant savings, an investment portfolio, a farm, and/or a profitable business.

Estate planning ensures you can pass on these assets to those you love in the most tax efficient manner, to help them build a secure future. It is part of your retirement planning too, so you can enjoy your retirement and still leave a legacy for the future.

Estate planning can also ensure that you have sufficient reserves should you need to fund elements of long-term care for yourself and/or your partner.

At Lighthouse Money Management, we can help you create an estate plan that is right for you, It doesn’t matter how big or small your estate is.

You may see estate planning described as family succession planning or bloodline succession planning. Whichever words are used, this is the process of ensuring that your estate and ongoing affairs are passed on to the next generation smoothly and efficiently.

Estate planning takes an overview of all elements of your estate – money, property, land, heirlooms – and makes a detailed, tax efficient plan on how they will be distributed.

Sometimes called family succession planning or inheritance planning, estate planning takes into account the finances you need to enjoy the rest of your life. Our expert advice on estate planning helps you assess and if required, choose new options to secure your finances and lifestyle in retirement. We can develop simple but effective estate management strategies to ensure your wishes will be carried out and your family’s inheritance assured.

Call us to arrange an appointment to discuss your requirements.

Own a business and want to pass it on to the next generation? See our page on Succession and inheritance.

Probate is the legal process of validating a will. When you make a will, you appoint one or more people you trust as your executors. When you pass away, their job is to act in accordance with your will to secure and distribute your assets.

You can make that job easier for your executors by keeping financial records including:

  • Details of all your bank accounts, pensions and insurance policies
  • Title deeds, proof of ownerships
  • Digital account details including crypto wallets
  • Any measures taken to minimize your tax liabilities
  • An estate inventory (details of heirloom items, jewelry, etc)
  • Trusts to protect assets for minor children

At Lighthouse Money Management, we are happy to help you with your estate planning needs.

Contact us to discuss any aspect of estate planning:

While there is no inheritance tax in Ontario, your executor will still need to ensure that probate fees are paid, as well as file your final income tax return.

Estate planning and management in Huron County

If you wish to discuss, amend or change your estate planning, contact us to make an appointment: