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Wills & Estates
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Financial Planning -> Wills & Estate Planning

Wills & Estate Planning


Advantages of having a will

What happens if you die without a will?

Do you need a lawyer to write a legal will?

Does a will need to be registered?

Who can challenge a will?

Sample will

Probate Fees

Minimize probate fees

 - Joint tenancy, multiple wills, value of estate

Probate fees by province/territory

When Someone Dies

What to do when someone dies

Executors have many responsibilities.
An estate may have to register as an employer with Canada Revenue Agency.
An individual is deemed to have disposed of all capital property immediately prior to death.
Links to information on federal and provincial/territorial websites.

What happens to debts of the deceased?

Deemed disposition of capital property upon death

Income Taxes

Minimize taxes of a deceased taxpayer

Are gifts or inheritances taxable?

How are RRSPs and RRIFs taxed at death?

Donations in the year of death and in the will, qualified donee as beneficiary of RRSP, RRIF, TFSA or life insurance policy

Life Insurance / Medical Assistance in Dying (MAID)

The Impact of Medical Assistance in Dying on Life Insurance and Some Other Mentionables - from All About Estates

Before You Die

The executor of your estate will spend countless hours performing all the tasks that need to be done after you die.  To make things easier for them, and to ensure that your assets are distributed in the manner you want, make your will as clear as possible, and provide documentation for your executor and heirs.  For an excellent article on this, see BDO's The Best of The Blunt Bean Counter - Estate Planning - A Tale of a Father's Selfless Act of Love.

Tax Tip:  Plan ahead by making a will and ensuring your wishes are known.

Revised: June 10, 2021


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