121: Estate Planning Essentials | Guest Jonathan Hooper

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Barenaked Money

Verecan Capital Management Inc.

32 episodes

2 weeks ago

Slip into something more comfortable and delve into personal finance with Josh Sheluk and Colin White, experienced portfolio managers at Verecan Capital Management. Each episode demystifies complex financial topics, stripping them to their bare essentials. From investment strategies and financial planning to economic headlines and philanthropic giving, delivered with a blend of insight, transparency, and a touch of humour. Perfect for anyone looking to understand and navigate their financial future with confidence. Subscribe now to stay informed, empowered, and entertained. Verecan Capital Management Inc. is registered as a Portfolio Manager in all provinces in Canada except Manitoba.

All content for Barenaked Money is the property of Verecan Capital Management Inc. and is served directly from their servers with no modification, redirects, or rehosting. The podcast is not affiliated with or endorsed by Podjoint in any way.

121: Estate Planning Essentials | Guest Jonathan Hooper

Barenaked Money

42 minutes

11 months ago

121: Estate Planning Essentials | Guest Jonathan Hooper

Estate Planning Pitfalls and Precious Insights with Jonathan Hooper

In this episode of Barenaked Money, Colin White and Matthew Kempton of Verecan Capital Management are joined by special guest Jonathan Hooper, an estate lawyer with Tupman and Bloom, to explore common mistakes in estate planning. The conversation primarily focuses on the complications that arise from outdated estate plans, the dangers of joint ownership, and the legal intricacies involved in ensuring that your assets are passed on according to your wishes. Hooper shares his expertise on issues such as unaddressed changes in life circumstances, the complexities of the probate process, and the importance of having a proper executor. The hosts and guest emphasize the significance of keeping estate plans updated and transparent to avoid legal disputes and family conflicts. They also touch on the role of trusts, tax implications, and best practices for ensuring a smooth transfer of wealth. The episode concludes with a preview of an upcoming discussion on the challenges of joint ownership in estate planning.

00:00 Introduction to Barenaked Money
00:26 Meet the Guest: Jonathan Hooper
01:17 Common Estate Planning Mistakes
02:52 The Importance of Keeping Your Estate Plan Updated
03:10 Joint Ownership Issues in Estate Planning
04:56 Understanding Joint Ownership Issues
05:22 Legal Obligations and Misconceptions
06:56 Simplifying Your Estate Plan
07:46 The Role of Executors in Estate Planning
13:56 Tax Considerations in Estate Planning
19:39 Executor Responsibilities and Challenges
19:50 Involving Multiple Generations in Estate Planning
21:36 Dealing with Family Dynamics in Estate Planning
26:45 Legal Challenges and Trusts in Estate Planning
29:28 Avoiding Probate and Tax Issues
39:37 Conclusion and Teaser for Next Episode
39:37 Conclusion and Teaser for Next Episode
41:21 Final Disclaimer and Contact Information