Estate planning in Vancouver is a complicated topic for many people. But now that you have taken the first steps in creating an estate plan, it’s important to make sure that you are doing it right. Here are some of the mistakes you would want to avoid making when estate planning in Vancouver:

1. Not including everything that you need to include.

It’s important to know what you should and should not include in the estate plan. Is it necessary to include a certain asset in the estate plan or will assigning a beneficiary already hold? This can be the case for life insurance policies where you already have assigned beneficiaries.

2. Not considering putting some of your assets into a trust.

One of the ways to minimize the costs of estate taxes is by putting some of your assets into a trust. This can be a big relief to your loved ones as it prevents your assets from being used to pay taxes. All the assets placed under a trust are non-taxable.

3. Naming the kids as a joint owner to a real estate property.

You love your kids and you want them to get your assets when you leave this earth. But while alive, naming your kids a joint owner might have some repercussions. If your kids get married and get a divorce, that property could be included in the division of assets and this means you could lose your property.
The best thing to do is to consult experts in estate planning such as ZLC Financial. Get the advice that you need to ensure that you make the right decisions in estate planning.

For more details about Financial Planner Vancouver please visit our website: zlc.net