Estate and trust planning during your lifetime ensures your assets will be managed and distributed according to your wishes, regardless of how your life circumstances evolve over time.
Depending on your situation, many tools, such as a will, mandate, and a family trust, are available to meet your personal and philanthropical goals during your lifetime and beyond. Above all, they will help provide sound guidance for your loved ones while they navigate an emotional time.
The greatest gift you can give your loved ones is a plan, and communicating that plan beforehand can alleviate distress for those you care for. More than 50% of Canadians do not have a will and often this is due to a misunderstanding of how your assets will be distributed by law if you die intestate. Intestacy does not consider personal circumstances, and without a will your loved ones may be left without adequate provision.
Equally important is a mandate, which allows an appointed individual who is trustworthy to manage your assets should you become temporarily or permanently incapacitated.
As a way to start the conversation, we are happy to review your current will, family trust and/or mandate. We will recommend changes if required and help you put all of your affairs in order. Our goal is to ensure that your will is direct on your last wishes, your mandate provides clear instruction should you not be able to act, and that your family trust reflects best how your assets should be managed on your behalf.
Our Planning and Consulting services include, but are not limited to, the following:
- Reviewing your current will and mandates
- Assisting you with the preparation of new wills, codicils and mandates
- Preparing a personal balance sheet that summarizes your net worth for ease of reference for you and your liquidators
Estate and Trust planning is not static. As life events happen such as the arrival of a newborn in the family, the purchase of a business, a new life partnership arrangement, departure from Canada and more, you will want to review your existing plans.