Estate Planning Steps 

• Will

  • Review of existing will
  • Preparation of new will, if required
  • Review of assets owned in Canada and elsewhere
  • Safe storage for will

   

• Life Insurance

  • Confirm adequacy of beneficiary designations

• RRSP

  • Beneficiary designations
  • Income Tax consequences to estate of certain beneficiary designations

• Assets

  • Joint ownership
  • Trust agreements

• Obligations to Dependants

  • Spouse
  • Child

Estate Planning  Tools

• Will

• Beneficiary designations on:

  • Life Insurance
  • RRSP

• Estate freeze for family-owned business

• Transferring assets and investments into joint ownership

• Spousal Trusts

Estate Planning Considerations

• Have will reviewed

• Obtain Accountant's advice

• Select appropriate executor