Beneficiaries and Probate

Naming a beneficiary with segregated funds can provide your estate with significant benefits and cost savings upon death.† Death benefit proceeds with segregated funds or any insurance contact do not pass through an individualís estate, thereby bypass the probate process and can save an estate considerable time and money.†

Probate fees vary from province to province.† For example, in Ontario, probate fees are 1.5% on assets in excess of $50,000.† In addition to probate fees, there may be other estate administrative fees, accounting and possibly legal fees.† In addition, some insurance companies with segregated funds will waive any deferred sales charge or back end load commissions upon death, which mutual fund companies would not do.††

Segregated funds provide investors and contract holders with many benefits.† Individuals should not overlook the benefits segregated funds can provide your estate.† Using segregated funds is one of the easiest things individuals can do to reduce the costly fees associated with oneís death, and the bypassing of assets of oneís heirs.† Other methods are available to reduce probate fees and estate administration fees, however most involve losing control of oneís assets and costly fees to set up appropriate accounts and trusts.

Investors should read the Information Folder for important information on the segregated funds of interest.† The Information Folder will contain information and details on factors affecting maturity values, death benefits, reset features, fees and commissions and much more.† Segregated funds unit values fluctuate in value and redemptions or sales can be made at a loss.†

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