di IT’S HUMAN nature to avoid dealing: ‘with’ unpleasant issues -such ‘as: death “and thinking ahead to’ ‘what will happen to your. estate when you. pass “away, Yet; we have a responsi- 7 “bility to. our families to deal .. “ with these issues just as we do “with day-to-day affairs such - as highway. safety and med- ical care. By J Janet Ketchen and John Brown 4 Contouting Writers “ Sémetimes. we ‘neglect | “estate -planning because of a sense, of ° +; immortality or,.. more commonly, just procrastination.. Whatever the “reason, there’s no excuse. What is estate planning? alts simply long-range personal planning aimed “at.ensuring your assets“and earnings “do -you the most good while. you are alive and your heirs the most good after you “ Horseshoe Bay « Dundarave/Ambleside British Pro Norgate/Pemberon Heights |‘ Capilang/Delbrok Highlands a): Lower Lonsdale. : Central & Upper Lonsdate” orn + Lynn Vall : Blucridge/Deep Cove i 73% Estate planning i is key to peace of mind While. estate’ planning .often focuses on death, it can; -and should, also involve a lifetime pro- gram to maximize wealth and min- ‘imize income tax. ‘Here are a few things to think about if you have yet to do any estate, planning and a couple of reminders for those that have. “Make a will Don't wait for a wip abroad or ‘across Canada to prepare a will. You have as much chance of meet- ing an early end through the haz- ‘ards of focal travel and illness. .The first step isto document how you want your assets distrib- uted. If you die intestate (without a will) the courts can carve up your wealth and. determine. who ‘is “appointed an administrator of your estate, You could aso’ trigger income ‘taxes that canbe avoided if you have a will. reeihyl OR RUST ener ern children or’ grandchildren - Power of attorney Give you spouse, or someone you trust, authority to make finan- cial and other decisions for. you should you become. incapacitated due to accident or illness. Leaving money to children If your children are under. 19 and they are entitled to. receive monies ‘from. your estate, these monies will be administered by the public trustee's office unless you specifically provide otherwise in a will: ’ If you want to make sure your are looked ‘after for education, health or any other purpose, a trust ‘for their benefit may be the ‘Best way to doi it. - Organize your records Keep an up-to-date record of all =a ORE: SEAGRASS SEMINARY Ree HOF SAECO ISS ANY NO ‘18% [3% 23% YES | 80% = 85% 67% 76%: 84% 72%: = 60% erties we 10% puma ik, 17% 23%) ‘percent of. the North ‘shore + residents ‘polled ay. our survey team have made a will or live with someone who has Estats'plarining, while Its immediate focus is to organize your personal affairs in the advent of death, can also involve a life- . ime program te maximize wealth and minimize income tax, ef Monthly | Income fof Liquid. i Flexible — Cali Kathy Sager 2°, Vice President...” Financial Advisor .. . “604 925- 5552. | BLUE CHIP THINKING i is a trademark of Migand Waiiwyn Capital Ince. 19/95 annual’ ‘equivalent. Yeild to ° matty 7.97%. Subject to > change and avatabilty 12% «+ 5% your assets — bank accounts, hide- . away condo, safety deposit box, insurance, investments — and lia- bilities. The list should also include the names of your profes- sional advisors ‘and doctor. ’ Probate fees Presently in British Columbia, there are no probate fees or succes- sion duties. However, the. government has imposed a court fee of 0.6% of the ~ value of your assets in excess of $25,000 if your estate requires pro- bate. These fees can be avoided in certain circumstances. Know your worth Some people simply don't know how ‘wealthy’ they . are. - Understanding your net worth will enable you to do a more effective job of planning your, estate “and will, Update your will Things, and times, change. To keep your will abreast of changes -and ensure your assets are distrib- uted as you intended, review and update your will at least. every three years, As with any type of planning, : both costs and benefits must be weighed. Be suts to contact your professional advisor to ensure you best accomplish your goals. ‘Janet Ketchen is ‘branch manaj- ; er and: investment advisor at-the West. Vancouver office of Richardson. ~ Greenshields.-. of Canada. Ltd. John Brown is a lawyer‘ and a partner: with the, Vancouver law. firm, Harper Grey ‘Easton. ‘ _» KIDS FOLLOW THE _ WATER SAFETY RULES “DOYOU? MBP The Canadian Red Cross Society’ Lawrence Barrister & Solicitor introduces you to legal services that help simplify your life. ‘From wills, estate seulement and real estate, every effort is r niade to onpanize the details of | ‘gach transaction perfectly. t Plan ahead. Is: a a relief having your affairs i in order, We are conveniently located : in Ambleside and . downtown vi ‘ancouver, Call 922-8881 and ask for Myrle, - Myrle L. Laweence’ Law Corporation: _ 235- 15th Street, West, Vancouver « : : “BC, vit 2XL ; ay et, A Caring Community - “A Lasting Gift ions Gate Hospital plays a major part in our lives. Ic touches us, our families and ‘our neighbours. in some. way almost every day. It, is. ours, and ‘it deserves our support. os he “ Many times through thoughtful estate planning there exists an opportunity. to look. after” family and at the same time contribute to the betterment of the community ina significant and lasting way. Gifts ‘to, Lions Gate Hospital Foundation through * bequests, annuities, property and life insurance are some of the ways that you and your family may make a larger “contribution i in the future than might be possible today. A gift through your: estate will help to ensure that-all of the resources needed to keep | pace” “with' the changing, world of health care’are available for North Shore families well into the: future. fous If you would like to review your plans or would like more information on making a gift please call Sheilah’ Grant, Director of Development at 984- 5785 to: arrange an a appointment. - Lions Gate Hospital Foundation . LIONS: GATE HO SPA , 231 East’ 15th Street. North Vancouver, B.C.” ov