Resources - Estate and Succession Planning

You have devoted yourself to providing for your family and saving for a comfortable retirement, but have you also planned for what would happen if you were no longer around to take care of things or if you became incapacitated? While there are a number of legitimate reasons for avoiding the issue – ranging from “I don’t have time” to “it’s a difficult topic to think about” – estate planning is too important to ignore.

This is designed to help your family, executor (referred to as a “liquidator” in Quebec), or Power of Attorney for Property (referred to as a “mandatory” in Quebec) locate all of your important documents and other information needed to administer your estate or act as your Power of Attorney for Property

If you own a vacation property, this provides information on the tax consequences of selling a second home and highlights important estate planning considerations, if your plan is to keep your vacation property in the family for the next generation.

Family structures have changed significantly in recent years and it is not uncommon for people to enter a second, third, or even fourth marriage. Some who have been through a traumatic divorce may decide not to marry their current partner, but instead to live in a common-law relationship. If one or both partners have children, the family dynamic may become quite complicated, so it is important to have a proper estate plan in place.

A testamentary trust provides a means of transferring and holding property under the terms of your Will. When structured properly, it can provide protection from creditors, guide the management and use of your wealth after death, and serve as a strategy to minimize or defer various taxes.