• Monarch Wealth

    Estate Planning

Estate planning is simply putting a plan in place to transfer assets from one individual to another when the owner of the asset dies.


This is important for two reasons:


  1. Minimize and defer taxes on death so that the estate can be preserved for the beneficiaries
  2. Moving any tax burden of the beneficiaries only upon the future sale of assets


The complexity comes in when there is a disabled individual receiving financial assistance from the Ontario Disability Support Program (ODSP). If they receive an inheritance without a plan in place their financial support would be cancelled temporarily or permanently terminated!