FINA 385 Lecture 15: Chapter 15- Estate Planning
Document Summary
Estate planning is a definite plan for the administration and disposition of one"s property duringone"s lifetime and at one"s death. Thus, it involves both handling your property while you are alive and dealing with what happens to that property after your death. Estate planning is an essential part of retirement planning and an integral part of financial planning. 1) the first consists of building your estate through savings, investments, and insurance. 2) the second involves transferring your estate, at your death, in the manner you specify. Provincial family law can have a significant impact on your estate planning. For example, getting married will usually void a will made prior to the wedding. Equally, divorce and separation might also affect the validity of part or all of a will. The idea is to protect those who have traditionally depended on you and to ensure a just distribution of your estate.