Business Administration - Financial Planning RFC222 Lecture Notes - Lecture 1: Estate Planning, Intestacy
19 Jan 2017
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Document Summary
Provincial family law: provincial family law can have a significant impact on your estate planning. Taxation rules, economic conditions, estate exclusions, account values and inflation constantly change and this affects the way estate laws/taxation are implemented. Material changes in your life should always trigger a review. If nothing major has changed for you, then you should take it upon yourself to review your plan at least once every two years. It"s possible that while changes might not have occurred in your life, your children, grandchildren, or other beneficiaries might have had events occur that affect your plan. Once your plan is in place, make sure that you"ve made all necessary adjustments to your beneficiary designations, titling of assets, notification to the executor and other property to reflect what is listed in your estate documents. You"ll then want to make several copies of everything. Many estate planners will recommend that you only distribute one original signed copy.
