With a Will, There is a Way

It's a complicated world and you've worked hard. By preparing a will, you can effectively provide for your loved ones and prevent the unnecessary cost of estate taxes and litigation among your beneficiaries.

Here are some of the most common questions asked by our clients and the influential considerations of estate planning:

• Who should I select as my Executor?

• If you name/are named an Executor, are you aware of the recent changes to the Estate Administration Act respecting personal liability?

• How does getting married affect my Estate? (Did you know that a subsequent marriage nullifies your current Will?)

• What happens to my RRSP and/or my RESP?

• Who will be guardians for my children? (By naming a guardian in your Will, your intentions can be proven to the courts.)

• I am in a second marriage, how do I provide for any ongoing obligations owed to my previous spouse?

• I have a child/grandchild with special needs — how do I provide for him/her? (A Henson Trust and other trust instruments can be established for the care of that child.)

• At what age should my child or grandchild receive their inheritance?

• What methods can I use to defer tax consequences upon my passing?

Estate planning involves careful consideration of your life circumstances and the interplay of the law. Meeting with a competent lawyer who can navigate you though these considerations is paramount.