A well-crafted estate plan along with a will and mandate is half the battle. What many individuals don’t realize is that a key aspect of your estate plan is communicating your wishes to your loved ones far in advance. Not only does this help ensure your wishes will be respected, it also can spare your […]
The following is a list created to assist you in managing the affairs of deceased individual. It is imperative that you start working through this list as soon as possible as some of the procedures you will request will take time for the various organisations contacted to process.
When an individual passes away the value of the TFSA is not taxed, however there are possible implications as the Estate is being settled depending on the province of residence.
An estate freeze is one of the more common estate planning tax strategies. When an individual shareholder holds shares of a private corporation, a ‘freeze” can be used to lock in the current value of the individual’s estate, which ultimately defers tax when the shares of the company pass to the next generation.
We often think about our legacy and what we will leave our loved ones when we are gone, but we don’t often consider who will pick up the pieces or the work that will be involved. There are several things that can be done in order to simplify the process for those tasked with managing your estate.
There is nothing more personal than ensuring your future Estate is well-managed according to your wishes. Depending on the complexity of the Estate, to properly arrange your affairs you will likely need to work with several trusted professionals.