Trusted Tips and Resources

Trusted Tips & Resources

Trusted Regina Financial Advisor Chris Worby at Worby Wealth Management Provides Financial Advice on Estate Plans

Chris Worby is a Trusted Regina-based financial advisor and Wealth Management services provider. With over 20 years of experience, Worby Wealth Management has been committed to providing a high standard of financial service to individuals, families and business owners in Regina and area. Worby Wealth Management listens and provides a personalized financial plan. In their latest Worby Wealth Management Trusted Regina Financial Tip, Chris Worby shares information on what an estate plan actually consists of.


What is an Estate Plan? Hint: It’s Not Your Will


FAQ: Is A Will An Estate Plan? 

An estate plan is a comprehensive and strategic set of legal and financial arrangements designed to manage an individual’s assets and affairs during their lifetime and ensure their wishes are carried out after their passing. While a will is an essential component of an estate plan, it’s just one part of a more extensive plan that typically includes several other crucial elements.


These elements can include:

Will – A will is a legal document outlining how a person’s assets should be distributed after death. It may also specify guardianship for minor children and appoint an executor to manage the distribution process.

Trusts – Trusts are legal entities that hold and manage assets for the benefit of designated beneficiaries. They can be used to minimize estate taxes, provide ongoing financial support to beneficiaries, and dictate how assets are distributed over time.

Power of Attorney – This document designates a person to make financial and legal decisions on your behalf if you become incapacitated or unable to manage your affairs.

Medical Power of Attorney – This allows someone you trust to make medical decisions if you cannot do so yourself.

Living Will – Also known as an advance healthcare directive, a living will should outline your preferences for medical treatment in case you cannot communicate your wishes, particularly in critical or end-of-life situations.

Beneficiary Designation – For assets like retirement accounts, life insurance policies, and certain bank accounts, you can name beneficiaries who will inherit these assets directly, bypassing the probate process.

Letter of Intent – While not legally binding, a letter of intent can guide your loved ones and the executor of your estate about your personal wishes, sentimental bequests, and other non-financial matters.

Guardianship Designations – If you have minor children, an estate plan can specify who will be their legal guardian in case both parents pass away.

Charitable Giving – An estate plan can include provisions for charitable donations or the establishment of charitable trusts or foundations.

Business Succession Planning – For business owners, an estate plan can outline how the business will be transferred or managed upon the owner’s death or retirement.

Estate Tax Planning –  Depending on your jurisdiction and the size of your estate, an estate plan can include strategies to minimize estate taxes.

Estate planning involves careful consideration of personal and family circumstances, financial goals, and legal implications. Working with professionals is advisable to create a customized estate plan that aligns with your wishes and maximizes the benefits for your beneficiaries.

Contact Worby Wealth Management Regina so we can review your estate planning needs today.


Find Out More

Click here to see the services that Worby Wealth Management can help you with: 


TRUSTED REGINA FINANCIAL ADVISOR Chris Worby from Worby Wealth Management helps you live your dream!

 

The comments herein are a general discussion of certain issues intended as general information only and should not be relied upon as tax or legal advice. Please obtain independent professional advice in the context of your particular circumstances.  This Blog was written, designed and produced by  Chris Worby for the benefit of Chris Worby, a Financial Advisor at Worby Wealth Management, a registered trade name with Investia Financial Services Inc., and does not necessarily reflect the opinion of Investia Financial Services Inc.  The information contained in this article comes from sources we believe are reliable, but we cannot guarantee its accuracy or reliability.  The opinions expressed are based on an analysis and interpretation dating from the publication date and are subject to change without notice.  Furthermore, they do not constitute an offer or solicitation to buy or sell securities.  Mutual Funds approved exempt market products and/or exchange-traded funds are offered through Investia Financial Services Inc.

Trusted Regina Financial Advisor Chris Worby at Worby Wealth Management Earned The Chartered Investment Manager (CIM®) Designation

Chris Worby is a Trusted Regina-based financial advisor and Wealth Management services provider. With over 20 years of experience, Worby Wealth Management has been committed to providing a high standard of financial service to individuals, families and business owners in Regina and area. Worby Wealth Management listens and provides a personalized financial plan. In their latest Worby Wealth Management Trusted Regina Financial Tip, Chris Worby shares information on The Chartered Investment Manager (CIM®) designation he has attained.


The Chartered Investment Manager (CIM®) Designation


2023 started a little differently from past years for me. I had been working on a partnership for about 5 years that didn’t work out in 2022, and while it was a great learning experience, I was not happy about putting in so much work to have it not become a reality.

So I did a little strategic thinking, and one thought that kept coming up in my mind was this, “If you were talking to you 20 years ago, what would you advise yourself to do at that time.”

Well, that’s a heck of a thought to have after 22 years in the business, with another 15 to 20 ahead. Because it’s obvious what I’m really asking myself, “How stuck are you in the way you are doing things, and how would you like to get better.” 

The answers to these questions started to flow; the first was education. In March of 2023, I signed up for the Wealth Management Techniques course and followed it up with Portfolio Management Techniques. These, combined with my years of experience, allow me to become a Chartered Investment Manager (CIM®) and, if I should so choose, would allow me the opportunity to become a portfolio manager.

Portfolio Managers can operate at a level in our industry that most advisors never even consider. In their purest form, they do the actual buying and selling of investments on behalf of clients on a discretionary basis, acting in a fiduciary capacity beyond what the average mutual fund advisor or stock broker does. It is not an understatement to say it is the pinnacle of what our licensing can offer!

My goal is, and always has been, to offer my clients an experience that is different and more encompassing than what is available elsewhere. I want the time in my office to be enjoyable rather than intimidating. I want to give advice that is accurate and timely. I want my financial solutions to be well thought out and considered based on evidence and education.

My attainment of the CIM® designation is a strong step in this direction, and I am excited to announce it. I am also happy to say it is not the only step forward on the course I have mapped out. I can’t wait to share more as it unfolds!


Find Out More

Click here to see the services that Worby Wealth Management can help you with: 


TRUSTED REGINA FINANCIAL ADVISOR Chris Worby from Worby Wealth Management helps you live your dream!

 

The comments herein are a general discussion of certain issues intended as general information only and should not be relied upon as tax or legal advice. Please obtain independent professional advice in the context of your particular circumstances.  This Blog was written, designed and produced by  Chris Worby for the benefit of Chris Worby, a Financial Advisor at Worby Wealth Management, a registered trade name with Investia Financial Services Inc., and does not necessarily reflect the opinion of Investia Financial Services Inc.  The information contained in this article comes from sources we believe are reliable, but we cannot guarantee its accuracy or reliability.  The opinions expressed are based on an analysis and interpretation dating from the publication date and are subject to change without notice.  Furthermore, they do not constitute an offer or solicitation to buy or sell securities.  Mutual Funds approved exempt market products and/or exchange-traded funds are offered through Investia Financial Services Inc.

Trusted Regina Financial Advisor Chris Worby at Worby Wealth Management Explains Life Insurance

Chris Worby is a Trusted Regina-based financial advisor and Wealth Management services provider. With over 20 years of experience, Worby Wealth Management has been committed to providing a high standard of financial service to individuals, families and business owners in Regina and area. Worby Wealth Management listens and provides a personalized financial plan. In their latest Worby Wealth Management Trusted Regina Financial Tip, Chris Worby shares information on how you decide on your life insurance.


How Much Life Insurance Do You Need?

Insurance is about the catastrophe – so we don’t like discussing it. The first thing anyone wants during a challenging time is a plan, not to think or consider options but to have a plan. Determining the appropriate amount of life insurance coverage depends on various factors unique to your personal situation. While there isn’t a one-size-fits-all answer, considering the following aspects can help you estimate your life insurance needs:

  1. Financial obligations: Calculate your financial obligations, including outstanding debts like mortgages, student loans, credit card debt, and other loans. Additionally, consider ongoing expenses such as monthly bills, childcare, education costs, and future financial goals (e.g., funding your children’s education or retirement savings).
  2. Income replacement: Life insurance can help replace your income to support your family in case of your untimely death. Consider how many years of income your family would need to sustain their lifestyle and meet financial goals if you were no longer there to provide for them.
  3. Dependents: Evaluate the number of dependents relying on your income. Consider their financial needs, including childcare, education, medical expenses, and other living costs.
  4. Spouse’s income: If your spouse or partner also generates income, assess their earnings and how it would contribute to covering the family’s financial needs. This may influence the required amount of life insurance.
  5. Existing assets and insurance: Consider your existing savings, investments, and any other life insurance policies you hold. These assets can provide a cushion and reduce the amount of life insurance coverage needed.
  6. Future financial goals: Consider your long-term financial goals, such as retirement savings and estate planning. Factoring these goals into your life insurance needs can ensure your loved ones have the financial means to continue working towards those objectives.
  7. Final expenses: Account for funeral and burial costs, as well as any potential medical expenses or estate settlement, costs that your loved ones might have to bear.

Once you have a comprehensive view of your financial obligations and goals, you can work with a financial advisor or use online calculators to help estimate the appropriate life insurance coverage. These tools consider your specific inputs and provide a recommended coverage amount based on industry standards and best practices.

Keep in mind that your life insurance needs may change over time due to factors such as lifestyle adjustments, career advancements, or changes in family dynamics. It’s advisable to review your life insurance coverage periodically and make adjustments as necessary to ensure it aligns with your evolving circumstances. Contact Worby Wealth Management Regina so we can review your insurance needs today.

Some of the services that Worby Wealth Management can help you with: 


TRUSTED REGINA FINANCIAL ADVISOR Chris Worby from Worby Wealth Management helps you live your dream!

 

The comments herein are a general discussion of certain issues intended as general information only and should not be relied upon as tax or legal advice. Please obtain independent professional advice in the context of your particular circumstances.  This Blog was written, designed and produced by  Chris Worby for the benefit of Chris Worby, a Financial Advisor at Worby Wealth Management, a registered trade name with Investia Financial Services Inc., and does not necessarily reflect the opinion of Investia Financial Services Inc.  The information contained in this article comes from sources we believe are reliable, but we cannot guarantee its accuracy or reliability.  The opinions expressed are based on an analysis and interpretation dating from the publication date and are subject to change without notice.  Furthermore, they do not constitute an offer or solicitation to buy or sell securities.  Mutual Funds approved exempt market products and/or exchange-traded funds are offered through Investia Financial Services Inc.

Why Choose Trusted Regina REALTOR® James Wruth As Your Regina Realtor

James Wruth is one of Regina’s most trusted and top-selling Realtors. A member of RE/MAX Crown Real Estate since 2006, James works with families, individuals, investors, and developers in the purchase and sale of residential properties. Since 2006, James has been a consistent Top Producing Realtor, and he has been awarded numerous prestigious distinctions including RE/MAX 100% Club distinction, Platinum Sales Award, and Remax Hall of Fame induction. James Wruth is a Trusted Regina Real Estate expert.

Why Choose James Wruth As Your Regina Realtor?

I believe that relationships are more important than transactions. I started a career in real estate in 2006, and since that time I have built a Regina real estate business around that philosophy. My goal is a personalized one-on-one service to fully understand you, and your real estate goals, and to be 100% accountable to you. In my latest real estate tip, I share the top 6 reasons to choose me as your Regina realtor.


Top Reasons to Choose James Wruth - Your Remax Crown Real Estate Agent in Regina


When it comes to buying or selling real estate in Saskatchewan, having the right agent by your side can make all the difference. James Wruth, a Trusted Regina Remax Crown real estate agent, brings a wealth of experience and a proven track record to the table. In this blog post, we'll explore the compelling reasons why choosing James Wruth as your Remax agent in Regina is a smart decision for your real estate needs.

1. Local Expertise:
Navigating the real estate market in Regina, Saskatchewan requires an in-depth understanding of the local neighborhoods, property values, and market trends. James Wruth's extensive knowledge of the area gives him a competitive edge when helping clients buy or sell properties. His insights can help you make informed decisions, whether you're looking for your dream home or aiming to sell at the best price.

2. Proven Track Record:
With a history of successful real estate transactions, James has built a reputation for delivering results. His dedication to achieving the best outcomes for his clients is evident in the numerous satisfied testimonials and repeat business he receives. When you choose James, you're enlisting the services of a professional who is committed to your real estate success.

3. Personalized Approach:
Every client's real estate journey is unique, and James understands this well. He takes the time to listen to your goals, preferences, and concerns, tailoring his services to meet your specific needs. This personalized approach ensures that you receive the attention and guidance necessary to achieve your real estate objectives.

4. Effective Negotiation Skills:
Negotiation is a critical aspect of real estate transactions, and having a skilled negotiator on your side can save you time and money. James Wruth's proven negotiation skills help you secure the best deal, whether you're buying your dream home or selling your property. His strategic approach maximizes your advantage in negotiations.

5. Comprehensive Marketing:
Selling a property involves more than just listing it on a website. James Wruth employs a comprehensive marketing strategy to showcase your property's best features and attract potential buyers. From professional photography to engaging property descriptions, to being a Trusted Regina Realtor. This means his online and social media marketing efforts are ampilfied tremendously, reaching 10,000's more local prospects via the Trusted Regina platforms. His marketing efforts ensure that your property receives the attention it deserves in the highly competitive Regina real estate market.

6. Trusted Network:
Over the years, James Wruth has built strong relationships within the real estate industry and the Saskatchewan community. These connections can be invaluable when it comes to accessing off-market listings, local service providers, and other resources that contribute to a smooth real estate experience.


Choosing James Wruth as your Remax Canada agent in Regina, Saskatchewan is a decision that brings expertise, dedication, and a personalized touch to your real estate journey. With his local insights, proven track record, negotiation skills, and comprehensive marketing approach, James is well-equipped to guide you through the complexities of buying or selling property in Saskatchewan. When you work with James Wruth, you're not just getting a real estate agent – you're gaining a Trusted partner who is committed to your success.


Partner up with me, I’m a top Regina RE/MAX Agent, and an experienced Regina REALTOR® 


If you are looking for a Regina Realtor who works tirelessly on your behalf and always offers honest and candid advice, James will be an expert at your side. 

Trusted Regina REALTOR® James Wruth Discusses How Accurate Online Property Evaluations Are

James Wruth is one of Regina’s most trusted and top-selling Realtors. A member of RE/MAX Crown Real Estate since 2006, James works with families, individuals, investors, and developers in the purchase and sale of residential properties. Since 2006, James has been a consistent Top Producing Realtor, and he has been awarded numerous prestigious distinctions including RE/MAX 100% Club distinction, Platinum Sales Award, and Remax Hall of Fame induction. James Wruth is a Trusted Regina Real Estate expert.

Wonder How Accurate Online Property Evaluations On Real Estate Websites Are?

I believe that relationships are more important than transactions. I started a career in real estate in 2006, and since that time I have built a Regina real estate business around that philosophy. My goal is a personalized one-on-one service to fully understand you, and your real estate goals, and to be 100% accountable to you. In my latest real estate tip, I discuss the accuracy of automated property evaluation software on Real Estate websites. 

FAQ: Can You Get an Accurate House Evaluation from a Realtor Website?


In today's digital age, obtaining information about real estate has become easier than ever, thanks to the plethora of real estate websites available. One common feature offered by these websites is the ability to get an estimated house evaluation with just a few clicks. However, the question arises: Can you truly rely on these online evaluations for accuracy? This blog post will delve into the pros and cons of using realtor websites for house evaluations and provide insights into their reliability.


Pros of Using Realtor Websites for House Evaluations:

Convenience: Realtor websites offer quick and easy access to estimated house values, allowing users to get an instant idea of their property's worth.

General Market Trends: These websites often incorporate data from recent property sales and market trends, providing a snapshot of the current real estate landscape.

Initial Benchmark: Online evaluations can serve as a starting point to gauge the potential value of a house before engaging with real estate professionals.


Cons of Using Realtor Websites for House Evaluations:

Limited Data: Online evaluations rely on algorithms and publicly available data, which might not capture all the specific features and conditions of a property that can affect its value.

Local Nuances: Real estate is highly localized, and the value of a property can be influenced by factors not considered by generic algorithms, such as neighbourhood dynamics, school quality, and local amenities.

Lack of Personalization: Online evaluations lack the ability to account for unique aspects of a property that can impact its value, such as renovations, upgrades, or maintenance.

Fluctuating Accuracy: The accuracy of online evaluations can vary significantly. They might overestimate or underestimate a property's value due to limitations in the algorithms used.

Professional Expertise: Realtor websites can't replace the nuanced insights provided by experienced real estate agents who intimately understand the local market.


So How Do You Find Balance?

While the real estate and realtor websites can provide a rough estimate of a property's value, they should be used as just one tool in the valuation process. To get a more accurate assessment, it's advisable to consult with a Trusted local real estate professional like James Wruth who can consider both the online estimate and additional factors that influence property value.

Realtor websites offer a convenient way to obtain an initial house evaluation, but their accuracy is limited due to their reliance on algorithms and general data. For a more precise valuation that takes into account local nuances and property-specific features, contact James Wruth. He can provide the guidance of a knowledgeable Regina real estate expert and that will always remain invaluable. Balancing the convenience of online evaluations with the expertise of a local professional is the key to making well-informed real estate decisions.


Partner up with me, I’m a top Regina RE/MAX Agent, and an experienced Regina REALTOR® 


If you are looking for a Regina Realtor who works tirelessly on your behalf and always offers honest and candid advice, James will be an expert at your side. 

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310 Wall St #209
Saskatoon, SK   S7K 1N7
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