Echoes Series on Legacy Planning: Assessing Your Estate

In the second episode of TriCert Financial Group's Echoes Series, President and CEO Mike Gassewitz delves into the critical topic of legacy planning, focusing on assessing one's estate. Joined by Gord Hardie, Head of Financial Planning at TriCert Private Wealth, they navigate the complexities and importance of estate assessment.

Mike and Gord clarify the concept of an estate, emphasizing its comprehensive nature encompassing assets, liabilities, and future implications. They discuss the necessity of valuation, the involvement of professionals like your financial planner, accountant, and lawyer, and the iterative nature of estate assessment, underlining the crucial need for regular, periodic reviews.

The conversation underscores why assessing one's estate is paramount, highlighting the ease of estate settlement, debt management, and fulfilling beneficiaries' needs according to one's wishes. They also address the critical timing of estate assessment and caution against the repercussions of neglecting this vital aspect of financial planning.

 

Recorded on March 26, 2024