Business Administration - Financial Planning RFC222 Lecture Notes - Lecture 1: Money Market Fund, Estate Planning, Life Insurance
19 Jan 2017
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Document Summary
As noted earlier, your estate is everything you own. It includes all of your property tangible and intangible, however acquired or owned, whether inside or outside the country. It may include jointly owned property, life insurance, and employee benefits. Need to take inventory of everything you own, such as: Cash, chequing accounts, savings accounts, gics, and money market funds. Stocks, bonds (including provincial and canada savings bonds), mutual funds, commodity futures, and tax shelters. Your home and any other real estate, land and buildings, furniture, and fixtures. Antiques, works of art, collectibles, cars, boats, planes, personal effects, Interests in trusts and powers of appointment. and everything else. Estate planning is a definite plan for the administration and disposition of one"s property/assets during one"s lifetime and at one"s death. It involves both handling your property while you are alive and dealing with what happens to that property after your death.
