Looking for alternatives to more traditional estate planning? Try alter ...

You?ve worked hard for an entire lifetime and you want to be sure that as much of your estate as possible gets to the people you want it to. Passing along your assets using unconventional estate planning is becoming more popular as the available products get better. Alter-ego and joint partner trusts are specifically designed for seniors that want to structure their estates while controlling future use of their land and property.

These are set up in your lifetime so that can make sure the instructions are carried out exactly as you want. The alter-ego trust has been designed to benefit one person while the companion joint partner trust is set up for a couple.

These trusts are specifically designed for people 65 and older and work well for people who have beneficiaries who might need access to your assets immediately following your death. The structure of these allows for several advantages.

They are very effective when used alongside a will or even when used in place of a will to ensure that your wishes are fulfilled. If you acquire any other assets after you establish your alter-ego and joint partner trusts you will still need a will to cover these assets.

Using one of these vehicles means that you?ll also speed the process up since the assets here will not be included in the estate and will not be held up by the probate process as a result. Remember that it?s essential to get a trusted financial advisor working with you so you?ll get the most effective estate planning.

1st Financial Centre offers the best rates and services from all leading financial institutions across Canada with the click of a mouse. Call them at 905-985-1926 or visit them online at http://www.1fc.ca. They can help with a variety of financial services including trusts, mortgages and a host of other financial strategies.

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Source: http://www.portperryshoptalk.com/2012/featured/looking-for-alternatives-to-more-traditional-estate-planning-try-alter-ego-and-joint-partner-trusts/

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