Estate & Tax Planning

Estate Planning

A woman reading an article about tax planning in the newspaper.

Having a succession plan and an updated will can save your beneficiaries a lot of trouble. We can help you plan efficiently.

To ensure that your wishes are respected, you must have a succession plan and an updated will. This will help avoid many difficult issues for your beneficiaries. 

To do so, you must:

  • Define the objectives of your succession plan;
  • Determine your wishes (beneficiaries, asset distribution, tutors, etc.);
  • Establish the financial needs of your beneficiaries, such as your children’s education, your mortgage payment plan, etc.;
  • Evaluate your needs in case of incapacity; and
  • Minimize the tax burden and maximize the cash flow available for your loved one.

Estate Planning Process

  • Will & Power of Attorney 
  • Tax Consideration
  • Joint Ownership & Beneficiary Designations
  • Charitable Giving 

The Value Of a Personalized Plan

An estate plan will allow you to:

  • plan the steps and ensure the transfer of your assets at your death, according to your wishes;
  • maintain your family's quality of life in the short and/or long term;
  • reduce probate fees (no probate fees on Quebec) and optimize taxation on revenues;
  • anticipate funeral costs and allow your loved ones to mourn without having to deal with administrative formalities;
  • plan charitable donations, if appropriate, and;
  • appoint those who will carry out your wishes in case of incapacity.

There are very few certainties in life, but unfortunately death is one of them. It can happen at anytime, and even if it is inevitable, its aftermath can be completely planned. Doing nothing or waiting until it is too late is certainly not in the best interest of your family or your business. 

Tax Planning

Taxes are one of life’s certainties, but there are ways to minimize your tax burden, at the time of the initial investment and upon its disbursement.

Imagine having the chance to receive an income without having to pay taxes. You probably already know what you would do with this newfound wealth. While having to pay taxes is a certainty, there are several investment strategies that can help you minimize your tax burden, whether at the time of the investment or upon its disbursement.

Capital gains and investment income are taxed differently depending on the investment product you use. With good planning, you can ensure you choose investment vehicles that reflect your tax situation so that you can grow your wealth more efficiently.

Your advisor will help you analyze your portfolio and identify ways to reduce your tax burden. For instance, he may advise you on income splitting – with your spouse or children – or suggest you invest in a registered plan.

  1. Financial Planners are authorized to act in the field of Financial Planning. They exercise their duties for National Bank Financial Inc., a financial planning firm.

  2. We work closely with the Taxation, Retirement and Estate Planning Team from National Bank Trust, made up of multidisciplinary experts who provide knowledge and advice that complement our service offering. These experts assist us in providing the best solutions for your personal finances related to taxation, retirement and estate planning.

  3. Insurance products and services are provided by National Bank Insurance Firm (NBIF) or by NBF Financial Services (NBFFS), as applicable. NBIF and NBFFS are not members of Canadian Investor Protection Fund (CIPF). Insurance products are not protected by CIPF.

  4. Financing solutions are subject to credit approval by National bank.

  5. For details and conditions of the offer, please contact your advisor.

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