DEPENDENTS?

DO YOU HAVE DEPENDENTS?

Building a family? This post will explore essential financial planning steps like wills, life insurance and RESPs (Registered Education Savings Plans) to ensure your loved ones are protected:

1)      You must have a will. This is no minor detail to be overlooked as wills can be simple, inexpensive and are essential to ensure your dependents are kept safe. With no will, the government or others can claim your assets.

2)      You must have insurance. A brief note elsewhere explains the basics

3)      If your dependents include minor children, you should set up RESPs and there are good strategies to handle this step. (see relevant case study)