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An "estate" comprises everything we own or conâ€" trol. including personal property, immovable propâ€" erty iie., land, houses, and buildings}, businesses, life insurance, pension plans. and so on In a general sense. an estate plan can ease some of the anxieties and concerns related to dying. The company designed and manufactured compoâ€" n this column, I‘m going Iln discuss the imporâ€" tance of estate planning, a process that guarantees our assets are distributed at death according to our wishes or intentions. When Dalsa started, it was primarily involved in engineering design, but also to commercialize technoloâ€" gy developed in CCD image sensors. Brian Doody, president of Dalsa imaging divisions. said one of the reasons he thinks Dalsa made the list is because the company is always changing and chalâ€" lenging. "There‘s usually more work to do than people have time for." he said. "That‘s a trade off with the fact that everything is always interesting and exciting. Nobody gets bored around here." Delving into the dreaded world of estate planning echnology with vision I â€" a fitting slogan for Dalsa Corporation. The Waterloo company which designs and manuâ€" factures image sensors and digital imaging products was founded in 1980 as a way toâ€"commercialize emerging research. Now, 25 years later, Dalsa Corporation is in its fourth consecutive year as one of this country‘s top employâ€" ers, according to author Richard Yarema‘s book,. "Canada‘s Top 100 Employâ€" ers". By |~slafilishillg an estate Dalsa Corporation named to Canada‘s Top 100 Employers list Bxy Tra Mureity For The Chromicte For family businesses, estate planning can elimiâ€" nate disruptions due to death and reduce capital Several additional reaâ€" sons exist for creating an estate plan. We can reduce or minimize taxes, impleâ€" ment business succession plans, and designate execuâ€" tors and guardians for minors. plan, for example, you ensure your family is cared for following your death., that your grieving family is not overwhelmed by unsetâ€" tled financial matters, and that your property is distribâ€" uted accordingly. He said the company has been growing at a rate of 20 to 30 per cent each year, which allows employees, which includes 300 at the Waterloo location, to move up the corporate ladder Doody, who has been with Dalsa since 1985, was promoted to president in 1999. "I think they place a fairâ€" ly strong emphasis on both the stability in the company and opportunity to grow," Doody said. nents for custom design contracts. Dalsa has sales offices in Waterloo, Germany and Tokyo, as well as research and manufacturing plants in Quebec, Colorado and the Netherlands. The top employver list ranks companies on various criteria from advancement opportunities, job security and social interacrtion amongst employees and management. "We see a lot of opportunity out there still for us to continue growing." â€" Briar Doody president Leader of the pack BUISINESS gains taxes, as well as proâ€" vide sufficient funds for bills or debt. "Right now, we‘ve got three or four people travelâ€" ing through Japan working on some engineering proâ€" jects over there," he said. "One of the things I try to do is keep the employees informed of what is hapâ€" pening," he said. "They get an idea of where our prodâ€" ucts are being used, what new customers are being brought online." He said the meetings help give employees ownerâ€" "We try to balance the demand to keep everyone working hard with the abiliâ€" ty to offer flexible starting and ending times," he said, "as well as opportunities for people to work on reduced work weeks if they need to." Doody said Dalsa has staff placed worldwide to experience working condiâ€" tions in the company‘s variâ€" ous plants. He said the crossâ€"culture experiences can be tiring for some of the employees, but is worthwhile in creatâ€" ing a diverse corporate culâ€" quickly. Doody syaid Dalsa works hard to accommodate the personal lives of staff, proâ€" viding adjusted work days, a nearby dayâ€"care centre and daily meetings with updates on the status of the compaâ€" ny, clients and special proâ€" jects. i W.ATERLOO CHRONICLE But the time and money saved following your death will greatly outweigh these initial costs. The next step is the calâ€" culation your net worth (assets â€" liabilities = net worth) to determine how susceptible you are to debt if "We see a lot of opportuâ€" nity out there still for us to continue growing," he said. The first step in creating an estate plan is to seek out the appropriate professionâ€" als. For instance, a suitable team would comprise a lawyer, tax professional and financial advisor. Doody said he has yet to see a point where Dalsa‘s growth will be standing still. Of course, you will need to invest both time and money to establish an estate plan. Doody said the company is looking to acquire other companies worldwide to expand its technology base, as well as expand operaâ€" tions in Asia and Europe. "We want to continue that so we‘re diversified," he said. He said the company has aggressive growth plans ahead, with a goal of makâ€" ing more than $250 million in revenue exiting 2005. "The constant change can be a push sometimes, but it also gives people something interesting to look forward to," he said. ship in what they are helpâ€" ing to make, since many of the products aren‘t seen in common use. "Our stuff tends to end up in industrial machines and systems that are removed from the standard consumer‘s life." Doody said. Dalsa organizes a numâ€" ber of activities throughout the year for staff, ranging from pig roasts to Christâ€" mas parties. "A lot of things we do try to bring people together, not just in the work enviâ€" ronment," Doody said. Perhaps the most imporâ€" tant aspect to consider is the creation of a will, which assures your instructions or wishes are followed accordâ€" ingly. When creating a will, you must designate benefiâ€" ciaries, _ trustees, _ and guardians for minors. As well, you must choose an executor to carry out the terms of your will. You might your situation changes. You should also determine your life insurance requirements. The proceeds of a life insurance policy can be utiâ€" lized for income replaceâ€" ment, estateâ€"related expensâ€" es and inheritances. Brian Doody, president of Dalsa imaging divisions, stands in front of "the clean room" where the sensors are initially preâ€" pared. Choosing a suitable guardian for your children can be a difficult task. Here are some suggestions to make the process easier: make certain that the potenâ€" tial guardian maintains simâ€" ilar values in terms of chilâ€" drearing; that your children would want to live with this person; and that he or she has the financial resources want to think about a corpoâ€" rate executor if you have a substantial estate, complex financial situation, or disâ€" agreements within your family. Continued on page 21