Planning / Estate Planning
Estate Planning: Pass On More, With Less Stress
A good estate plan makes sure your family is cared for, your wishes are followed and less of your wealth is lost to taxes and probate fees.
Estate planning is not only for the wealthy. If you own a home, have savings or have children, a simple plan can save your family time, money and stress. We work with your lawyer and accountant so your insurance, investments and will work together.
What an estate plan covers
Will and powers of attorney
Make your wishes clear and name who will look after your finances and health care if you cannot.
Beneficiary designations
Naming beneficiaries on insurance, RRSPs, RRIFs and TFSAs can pay them directly, outside your estate.
Probate and taxes
Plan for Ontario’s Estate Administration Tax and the tax due on registered accounts and capital gains at death.
Life insurance for the estate
A tax-free insurance payment can cover final taxes so your family keeps the home or cottage.
Learn more →Segregated funds
Investments that pass to beneficiaries privately and quickly, without going through probate.
Learn more →Leaving a legacy
Plan gifts to children, grandchildren or a charity, including tax-efficient charitable giving.
How we build your plan
Take stock
List what you own, what you owe and who you want to provide for.
Find the gaps
Estimate taxes and fees at death and check beneficiaries and coverage.
Put it in place
Update designations, add insurance or segregated funds, and coordinate with your lawyer.
Review regularly
Update the plan after marriage, divorce, a new child, a new home or retirement.
Frequently asked questions
Do I need a will if I name beneficiaries?
Yes. Beneficiary designations only cover certain accounts and policies. A will covers everything else and names a guardian for young children.
How can I reduce probate fees in Ontario?
Naming beneficiaries on life insurance, segregated funds and registered accounts, and holding some assets jointly, can keep them out of your estate. Each option has pros and cons, so get advice first.
Why use life insurance in an estate plan?
The death benefit is generally tax-free and paid quickly, so it can cover taxes and costs without selling property or investments.
We are not lawyers or tax professionals. For wills, trusts and legal advice, we work alongside your lawyer and accountant.
Talk to Devendra Kumar, Financial Planner (CLU, CHS)
DK Insurance & Investment Inc. serves families across the GTA from offices in Vaughan, Mississauga and Brampton. Call or text +1-647-761-0517 for a free, no-obligation conversation.