A well-thought-out estate plan ensures that your family is cared for should something happen to you, and that your money goes where you want it to. It's an important pillar of managing your wealth.
What is estate planning?
Estate planning is the process where you lay out your instructions as to how your assets should be distributed.
Manulife GIF Select EstatePlus
EstatePlus is a highly effective estate planning solution that can help you provide for your family and loved ones and help ensure that your estate is protected.
Features and Benefits of EstatePlus:
- 100% Death Benefit Guarantee - With EstatePlus, you receive a 100% Death Benefit Guarantee. This means your beneficiaries are guaranteed to receive 100% of your deposits to the EstatePlus Series – reduced proportionally for withdrawals – even if there are market downturns.
- Estate benefits – In the event of death, the proceeds of the contract can privately* pass directly to designated beneficiaries, without the time delay and expense of probate.
- Fund selection – You have a broad choice of over 40 investment funds from many of Canada’s top fund managers. EstatePlus offers a range of assets classes with a variety of fixed income and balanced funds, asset allocation portfolios and fund bundles.
- Creditor protection – EstatePlus has the potential to protect your assets from creditors. This feature is ideal for professionals and small business owners looking to help protect their personal assets from professional liability.
- Flexibility – Should you need to, you can access your savings at any time (fees may apply).
* In Saskatchewan, jointly held property and insurance policies with a named beneficiary are included on the application for probate despite the fact that these assets do not flow through the estate and are not subject to probate fees.
The Value of Naming a Beneficiary
In Ontario, the value of naming a beneficiary can be significant. If you name a beneficiary, an insurance company is obligated, under the Insurance Act, to pay any death benefit proceeds to the named beneficiary on record. Because the death benefit proceeds do not pass through the estate, they not only avoid the delays of settling the estate but also bypass probate and other estate administration fees.
When you name a beneficiary with Manulife segregated fund contracts and GICs you can keep more of your money in your family.