Jessie Christo

27
Sep

Probate: Why Do People Try To Avoid It Like The Plague?

Probate is the procedure in which the will is validated as the last will of the deceased. It also legally confirms and grants the executor named in the will with the authority to deal with the estate. This provides proof to third parties (often financial institutions), that the executor has authority on the accounts and it also confirms the trustee.

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20
Sep

Your Trust Can Own Insurance

Who should own the insurance on your adult kids? It depends who you want controlling the policy and cash value of it. If you want to give control of your policy to your kids (to access the cash value) then have your kids own it. If you want control, have the trust own it with you as the trustee. Tip:

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15
Sep

Save Money After You Die? Trust Me

A testamentary trust is established by the will and only comes into effect upon death. It lets you give assets and property to your kids upon your death without allowing them to spend it right away. Do you want a tax planned will with teeth? Some lawyers say that every will should have a testamentary trust. Five benefits of testamentary

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7
Sep

Trusts and Probates Pt.2

A family trust comprises a number of options (not just spousal and common law partner trusts) and essentially is set up to take care of your family members. Often they are used for business owners to perform estate freezes. Most family trusts are discretionary trusts; this means that the trustee has discretion on the income or capital that is given

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30
Aug

Trusts and Probates

Trusts are like a drill. The drill is used to bore holes in various materials, producing specific sized and targeted holes. Think of drilling holes in a bucket. A trust allows your money to flow from your bucket to specific people (your beneficiaries). As with using trusts, the drill has many different drill bits for different applications, no ‘one size

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23
Aug

Why Do I Need This? One More Thing On The Must Have List

Your buyer wants this One thing that business owners often fail to consider is the end game. You must consider an exit strategy for yourself. Some people rely on the idea of having their business bought out by a larger company or competitor in the future. But ask yourself this: why would someone cut a cheque for your business if

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18
Aug

Why Are These Not Being Funded? And What Is The Risk?

Three reasons why shareholders’ agreements are not funded: Nobody told me. Too bad, but ignorance is not illegal. Tomorrow, tomorrow. It’s hard to come up with the time. You are running a successful business. It is easier to spend the time to develop a new client. The problem is once you get your wings, it is me that has to

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8
Aug

Shareholders’ Agreements

A saw is like a shareholders’ agreement. Its value is when the business relationship changes and has to be severed. You want a clean cut, all the way through, not a partial cut which splinters the remaining wood. There are two questions I like to ask business owners: What would happen if your business partner died tomorrow? What would happen

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2
Aug

Cost vs. Value; Advice Is An Investment

Never go cheap with professional advice. You wouldn’t Google the cheapest brain surgeon if you needed surgery, you would look for the best. That said, any advisor should be able to clearly show you the way, or ways, they get paid. Not only should you be satisfied with the explanation, but for you to choose to work with them, you

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26
Jul

Help To Manage Emotions

The biggest barrier we all face in finding financial security and success is ourselves, or more importantly, our behaviour related to our emotions. It is not the performance of your investments that will determine where you end up financially, it is your behavior as an investor. A good financial planner will keep their clients from destroying their capital. The difficult

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