Darren Devine, CFP®, CLU®
Financial Planner, Sun Life
President of Devine and Associates Financial Services Inc.
Hello, and welcome to Money Monday, where we help simplify your financial journey. I'm Darren Devine, Financial Planner with Sun Life and President of Devine & Associates. Today, we’re covering an important but often overlooked topic—how to avoid losing assets during the transfer of an estate. Estate planning is more than just writing a will; it’s about ensuring that what you’ve worked so hard to build gets passed on smoothly to your loved ones.
When transferring an estate, common pitfalls like probate fees, taxes, and improper documentation can lead to unnecessary losses. For example, assets like property, investments, or even personal items may face delays or financial penalties if they’re not structured correctly.
One way to avoid this is by considering tools like trusts, which can help bypass probate and provide more control over how your assets are distributed. Ensuring beneficiary designations are updated on your accounts and insurance policies is also crucial—outdated information can create costly complications.
Working with an experienced financial planner helps ensure your estate plan is structured to minimize taxes, avoid unnecessary fees, and streamline the process for your family.
Don’t let poor planning jeopardize your legacy. At Devine & Associates, we specialize in creating estate plans that help protect your assets and give you peace of mind. If you’re feeling uncertain about your estate plan or want to ensure your plan is on track, we’re here to help give your wishes a voice.
Thanks for tuning in, don’t forget to like and comment for more episodes filled with tips to make your financial journey a breeze. Until next time, I'm Darren Devine, and you can always talk to us today at DevineAndAssociates.ca!