Many people think of their Will as the core of their estate plan, but Wills can be contested and may be subject to a lengthy probate process. Using a trust can circumvent many wealth transfer issues and help relieve much stress for you and your heirs.

A trust can add a layer of protection for your family, loved ones, and legacy once you’re gone.

Many people falsely believe that an estate plan simply means drafting a will. But a will is just one component of an estate plan.

An estate plan is much more comprehensive and may necessarily include many more documents than a will.

Writing a Will is an important part of planning for your future and ensuring that your wishes are taken care of. It is hard to believe that over 50% of Canadians, many of whom are past retirement age, do not have a Will. It’s important to think about when you should write and update your Will, as it can be a complex process that requires careful consideration.

Often people are focused on appointing a Power of Attorney (POA) in the event that they are unable to make their own decisions, but have you thought about guardianship? What happens if your POA is unable to make decisions on your behalf? This is where guardianship plays a role.

Did you know that a family trust can be used to transfer wealth and preserve family assets as well as reduce taxes in Canada? The key is understanding how a family trust works and how it may fit into your estate plan.