David Garnier of Dartmouth, Nova Scotia, is the Vice President of CIBC (Canadian Imperial Bank of Commerce) Wood Gundy. In addition to his role as Vice President, he also serves as a CIBC Portfolio Manager. In his Portfolio Manager position, David Garnier helps his Dartmouth, Nova Scotia, clients manage their estate planning and other important aspects of their financial futures.

Tips like those below are just a few of what such professionals might provide to help you refine your estate plan...

Prepare Your Will

Preparing your will allows you to determine where your estate will go when you’re gone. You likely have opinions on who will get what. This requires careful planning so that your loved ones and other beneficiaries can easily sort your estate without legal trouble.

Choose Asset Allocation

If you would like some or all of your assets to cover certain expenses, you will need to create a trust with these provisions outlined. If, for example, you would like a portion of your estate to go to a loved one’s college expenses, a trust with him or her as the trustee will legally ensure that your assets are allocated properly.

Minimize Taxes

Using tax-efficient estate planning methods will minimize what your loved ones and other beneficiaries will owe the government on what they inherit. If, for example, a charity organization is among your beneficiaries, you could leave taxable assets to it while saving tax-free assets for your loved ones. Additionally, if you gift amounts to beneficiaries while you are alive instead of waiting, the gift will be nontaxable if under a certain amount.

David Garnier Nova Scotia, is a passionate professional who enjoys helping his clients however possible. Seek a similarly-dedicated professional to improve your own financial future and to plan how your estate will be distributed when you’re gone.

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