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1. ENTER YOUR ESTATE ASSUMPTIONS
$
ESTIMATED ESTATE / ASSET VALUETotal value of assets included in this planning illustration
T
ESTIMATED TAX LIABILITY AT DEATHEnter the estimated tax on assets subject to tax in this illustration
§
ESTATE SETTLEMENT / PROFESSIONAL COSTSEnter estimated probate, executor, legal, accounting and administration costs
−
DEBTS & OTHER ESTATE OBLIGATIONSMortgage, loans and other obligations to be settled
◆
AVAILABLE CASH / LIQUID ASSETSCash readily available to meet estate obligations
♥
LIFE INSURANCE AVAILABLEInsurance proceeds intended to provide estate liquidity or legacy capital
💡 HOW IT WORKS
We enter the estimated tax and estate-settlement costs separately, add debts and other obligations, compare them with available cash and life insurance, and illustrate any remaining liquidity gap. We then show the estate value remaining after the entered taxes, settlement costs and debts, plus the entered life-insurance proceeds.
2. YOUR RESULTS
Your Estate & Legacy Position
1

ESTATE OBLIGATIONS

Tax + Settlement + Debts

−
estimated cash required
to settle obligations
→
2

AVAILABLE LIQUIDITY

Cash + Insurance

$
cash and insurance
available
→
3

LIQUIDITY GAP

Amount Still Required

!
estimated estate
liquidity shortfall
$
Estimated estate remaining after entered taxes, settlement costs and debts:
Plus entered life-insurance proceeds:
Illustrated legacy capital:
ESTATE LIQUIDITY POSITION
What Is Required What Is Available The Gap
3. SMART TEACHING TOOL — ESTATE LIQUIDITY & LEGACY
THE ESTATE OBLIGATION
An estate may contain valuable assets but still need immediate cash to settle taxes, debts and final expenses. The planning question is not only “What is the estate worth?” but also “Where will the cash come from when it is needed?”
THE LEGACY OBJECTIVE
Estate planning is also about what remains for family or other beneficiaries after obligations are settled. Available cash and insurance can be coordinated to provide liquidity and help preserve the intended legacy.
THE F.I.T. PLANNING PROCESS
BEGIN WITH THE PURPOSE
What needs to be protected, and for how long?
→
EVALUATE THE CHOICES
Evaluate the available choices and how each one fits the purpose.
→
MAKE AN INFORMED DECISION
Choose the solution you understand and believe best fits your own circumstances.
The F.I.T. PLANNING Smart Cycle of Success brings all three together. Ask us how.
There are many insurance choices. The purpose of the planning conversation is not to tell you what to choose. It is to collaborate with you so you understand the choices, ask the right questions and have the clarity to arrive at your own informed financial decision.
A good decision deserves a regular review. Review your estate plan at least every three years—or whenever there is a significant change in your family, assets, obligations or tax circumstances.
Educational illustration only. Estate taxation and administration depend on asset type, ownership, beneficiary designations, province, tax law and individual circumstances. Review actual tax, legal and insurance arrangements with qualified professionals before making a decision.
Educational planning illustration only. Values entered are assumptions and do not constitute tax, legal or insurance advice.