Key Documents

 

Of course it is important to see the whole picture when it comes to making effective recommendations to achieve your objectives.  Your initial meeting with Allan to discuss your situation is at no cost to you.

If you decide to go ahead with Allan’s services,  we ask that you provide  any pertinent information required.  We prepared a list of items for you to gather (if applicable).  You can also print the list here: Document Checklist

The Document Checklist

  • Existing Will
  • Existing Power of Attorney & Health Directives
  • Marriage Contract
  • Separation or Divorce Agreement
  • Employment Contract
  • Existing Family Trust and Alter Ego Trust Document
  • Shareholder/Buy Sell Agreement
  • Life Insurance, Critical Illness, Long Term Care and Disability Policies
  • RRSP, Pension, DPSP, Individual Pension Plan
  • RCA Trust Agreement and Statements
  • Non-Registered Investment Statements, including Real-Estate Portfolio
  • Corporate Financial Statements
  • Latest Personal Tax Return
  • Minute Book & Corporate Seal

Documents such as buy-sell, shareholder or partnership agreements will control the transfer of business assets or a business succession. Proper planning ensures that this process is tax effective, minimizes loss of value and will help avoid potential family disputes.

Your Will is the most important document in the planning process. It directly affects how you are taxed and how your assets are dealt with. It is your vehicle to control the accumulated assets through the distribution process. Planning should include how ongoing obligations are dealt with by an estate. Post mortem planning for control and income splitting will achieve this objective. While inter vivos trusts allow income splitting prior to death, testamentary trusts can provide opportunities to income split after death, maintain some control over these assets and provide a degree of creditor protection. Structuring trust provisions in your Will creates the guidelines and parameters of control. The use of spousal rollovers and/or spouse trusts are also primary methods of deferring income taxes while maintaining control. Life insurance and alter ego trusts can also prove quite effective in creditor protection and avoiding probate.

At Atlas Estate Planning Services Ltd., we structure our assistance and recommendations to enable you to achieve your specific objectives while maximizing your after tax position.