Retirement & Estate Planning
Retirement & Estate Planning
Retirement & Estate Planning
Retirement & Estate Planning
Retirement & Estate Planning
Retirement & Estate Planning
Retirement & Estate Planning
How we help you
How we help you
About Greenfeld Financial Management
About Greenfeld Financial Management
About Greenfeld Financial Management
Jeffrey J. Greenfeld, CFP®, Investment Advisor & Financial Planner
Located in Delta, BC Tel: 604.940.8617
Estate Planning
Estate planning allows you to decide exactly who will benefit from your estate, and to what extent. Estate planning also ensures that the estate will not be destroyed by taxes imposed on the transfer of assets at death.
Estate planning should start well before you are into your later mature years. Ensure you have your estate in order before you get terminally ill or are incapacitated and unable to make financial decisions about your assets.
Estate Planning
The primary concern when planning your wealth transfer is your will. If you do not have a will in place when you die you are said to have died ‘intestate’. This will result in several problems.
1. You will not have a representative and the provincial court will have to appoint one.
2. Any assets you owned at death will then be distributed to family members according to a provincial formula.
If you feel that estate planning is a priority for your family, we can help you:
Save money, time and frustration
Protect your documents in a secure digital vault
Name an executor/executrix for your estate
Prepare your Will & Power of Attorney
Meet with estate professionals
Call us at 604.940.8617 for a no obligation consultation.
Estate Settlement
The role of executor/executrix is to administer and settle a person's estate after they have passed away. Many people choose their spouse, partner, or family member to take on this role.
If you have been appointed as an executor and require assistance, we can help you:
Complete probate documents
Notify government & ID theft protection agencies
Inventory all the Asset & liabilities
File estate taxes*
Set up virtual notarizations
Meet with estate professionals
Set up a Beneficiary portal for full transparency
Representation of up to 50 hrs with financial institutions
Call us at 604.940.8617 for a no obligation consultation.
*Products offered through referral program. Only products offered through iA Private Wealth are covered by the Canadian Investor Protection Fund.
Professional Executor Services
A professional executor alleviates the burden placed on loved ones by acting as a neutral third party expert, sparing them from untold amounts of stress, while saving your estate thousands of dollars in fees.
If you require a professional executor, we can help:
End to end estate planning and settlement services
Save thousands in settlement fees
Naming a professional executor, POA and trustee
Objective and transparent communication with beneficiaries
Call us at 604.940.8617 for a no obligation consultation.
The Family Cottage
It may be important for you to pass on the cottage to continue a family connection, but you should carefully consider your plans so that you avoid future complications.
There will be tax issues, certainly, but typically more far-reaching and significant are the emotional and personal implications for your family. There are many true stories of families where disputes and misunderstandings about the future of the family cottage have caused permanent rifts between family members.
Planning ahead is extremely important and, ideally, all the interested parties should be brought into the discussion upfront so that you can reach some sort of consensus together.
Transfer of Financial Assets Upon Death
Non-Registered Assets
Real Estate
Non-Spouse Death
Insurance Policies*
Different distribution rules apply to different types of assets and our office can assist you in learning the rules for each of the following assets:
Registered Retirement Savings Plans
Annuities
Registered Retirement Income Funds
Deferred Profit-Sharing Plan (DPSP)
Taxes Upon Death
The proceeds of a person’s estate cannot be distributed to beneficiaries until all estate debts have been paid and tax is usually the largest debt. This can present difficulties if there is not enough cash in the estate to satisfy the tax bill which may mean selling estate assets. Where there are non-registered assets such as real estate there may be capital gains that arise and where there are registered assets such as RRSPs or RRIFs, the full market values will be taxed. Consequently, the beneficiaries may not receive what the deceased intended. In the case of a family home, the Principal Residence Exemption will often serve to protect any of the gains from tax.
