Weyburn Credit Union - Succession & Estate Planning

A foundation for financial security

Preparing to pass on crucial leadership roles within your business? Planning to transfer your personal wealth to a loved one? Succession and estate planning is one of the most important and challenging milestones you can face. A well thought out plan provides a seamless transition, ensuring your succession goals are met while preserving the financial well-being of your beneficiaries.

1.

Protect your wealth

Who will your beneficiaries be as your family expands and changes with time?

2.

Maximize wealth distribution

Did you give financial assistance to any of your children? Will this determine if your estate is divided equally or not?

3.

Mindset

Have you planned ahead to secure your retirement and ensure your wishes are recognized?

4.

Minimize taxes

Have you reviewed taxation consequences on your estate and how best to mitigate them?

	1. Initial discovery Participate in a high level discussion of your goals and timelines Examine your income needs during retirement and consider how best to protect your family
	2. In-depth discovery Set up a comprehensive review of your current financial situation Identify what is important to you and clearly define your hopes and priorities Engage other investment specialists, accountants or lawyers to incorporate their services as part of a complete plan
	3. Report Summarize your current situation and set your objectives Prioritize your goals and implement a strategic plan based on clear recommendations Implement a collaborative approach by including your other investment specialists, accountants or lawyers
	4. Regular reviews and updates Make sure you are on track in attaining your goals and adjust for any life changes Achieve other intentions identified in the initial discovery and reporting stages (e.g., tax planning, charitable giving, long-term care, business insurance, and employee benefits) once your highest priorities are executed

A succession and estate plan is a key step to ensuring your financial security. Whether you are at the beginning of your journey or re-evaluating your plan, let us help you realize your succession goals with an in-depth wealth management program. Be prepared for your future and have comfort knowing your family and estate is well preserved.

Ready to get started?

To help us truly personalize our planning support, there’s some information we’ll need to collect from you. Here’s what you’ll need to bring along to your appointment:

Tax return
Investment statements
Financial statements
Pension statements
Insurance policies
Estate documents

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