
Estate Planning
Why is Estate Planning Important?
The good news for Canadians is that no estate tax is owed when an estate is transferred to your heirs after you die.
Many people assume that estate planning is only for the wealthy. So, it must come as a shock to the families of all the Canadians who die every year without a will when the province takes control of the estate to decide how the assets are to be distributed.
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Even for smaller estates, the costs and delays of probate can have devastating consequences. The goal of estate planning is to arrange your financial affairs in a way so that your assets can be passed to your heirs as quickly and as completely as possible.
The bad news, however, is that depending on the type of assets in an estate there may be “deemed disposition tax” that could seriously disrupt the financial lives of your surviving family. Properly planned estates have assets arranged and titled in such a way as to minimize any taxes payable. Estate planning tools such as trusts are often employed to reduce the exposure to taxes.
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Estate planning is not just planning for death; it is also essential to ensure that your affairs are handled in accordance with your wishes while you are alive.
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Should you become mentally or physically incapacitated and unable to manage your own affairs, tools such as a power of attorney become important life planning tools.
Many people avoid estate planning because they think it is complicated and expensive, which, for most estates, is not true.

Many people avoid estate planning because they think it is complicated and expensive, which, for most estates, is not true.
While it usually requires the guidance and assistance of an estate planning professional or attorney to execute the legal documents, a lot of time and expense can be saved by organizing your financial information and determining your goals and objectives prior to meeting with one.
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At the very least, everyone should have a simple will.
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Larger estates may require additional layers of estate planning tools, such as trusts. Still the more preparation done in advance, the easier and less expensive the process will be.

Elder Care
Eldercare is a journey. The first step is gathering information.
Care giving for an aging parent, spouse, domestic partner or close friend presents tough challenges…especially when a crisis hits and responsibility descends upon you suddenly.
Maybe your mother has fallen…perhaps due to instability caused by prescription drug side effects…and is hospitalized with a broken hip. Or your spouse has wandered off and become lost several times. Or a long-time friend and mentor has lost a lot of weight and rarely seems to leave home.
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Care giving descends upon us in all sorts of ways – through sudden crises or a series of small but unsettling mishaps and warning signs. You may be the only person to step in or you may simply be the linchpin of a large network of family members and friends willing to help.
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Whatever the situation, you’re not sure of the next step. Or even the first step. If you are looking for guidance in how to deal with aging parents, we hope these resources will make your journey a little smoother.