Your Estate Plan: Creating a Legacy, While Preserving Your Wealth

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Many of our clients are reaching a new phase in their lives where they are thinking about their own estate plans. The reality is that many of us will live as long in retirement as we’ve spent in our working lives. Even for those considering semi-retirement, this can have a direct impact on your retirement income and lifestyle, and what you leave as a legacy for your children and grandchildren.

Based on recent statistics, living to age 100 is more likely than you might have expected.

IS 100 THE NEW 85? PROBABILITY AT 65 OF LIVING TO THE FOLLOWING AGES:

80 Yrs Old
0%
85 Yrs Old
0%
90 Yrs Old
0%
95 Yrs Old
0%

Retirement today is different from the traditional ideas of retirement in the past. There has been a shift away from Defined Benefit Pension Plans, and reductions to Government Programs. The burden has shifted back to individuals to generate their own income in retirement. Even if you are prudent enough to have saved over the years, traditional investing does not allow you the certainty that your money will last, and there will be something left for future generations.

HOW WOULD YOU LIKE TO SPEND ALL OF YOUR ASSETS IN RETIREMENT AND STILL LEAVE A LEGACY TO THE NEXT GENERATION?

An ideal retirement plan is one that allows you to maximize your retirement income and still provide the legacy that you hope to leave for your loved ones. A simple strategy that is often overlooked is the use of permanent life insurance. Life insurance can act as ‘Retirement Insurance’, allowing you the flexibility to maximize your retirement income during the living years, with the comfort of knowing that a guaranteed benefit is always there to complete your estate plan.

Consider this: A healthy couple aged 60 could allocate less than $14,000 per year from their estate or other assets in order to guarantee a legacy of $1,000,000 tax-free to their heirs. You can also allocate a larger amount over a fixed period of 10 or 20 years, with a guaranteed benefit locked in and assured to be there for your family.

WHAT IS YOUR TOLERANCE FOR OUTLIVING YOUR MONEY?

To secure your plan even further, many people are allocating a portion of their retirement assets into an Annuity, or an investment fund that provides a guaranteed income for life. These solutions can provide a tax-efficient, guaranteed lifetime income, with the potential for growth if the investment markets perform well. Combined with life insurance, this combination allows you to enjoy your retirement knowing that you will never outlive your money, and there will always be a significant estate for your loved ones.

Contact us to find out how we can help you to create an estate plan that is designed to meet the needs of your family, your heirs, your business interests as well as any philanthropic considerations.

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