If you think Trusts are only for wealthy children waiting to obtain family riches, think again. Here is a simple guide to how Trusts can be an important part of an estate planning toolkit.
When it comes to picking who will act as your Powers of Attorney, most people choose the person closest to them without much of a second thought. But prepping your Attorneys for the job could be as important as who you choose. Nicole Ewing, Director of Tax and Estate Planning, TD Wealth, joins Kim Parlee to discuss how to prepare someone to act on your behalf.
In many parts of Canada, a marriage automatically invalidates any Will that comes before it. But in Ontario, a legal change took effect in January that is signaling a need to revise estate laws across the country. Kim Parlee speaks with Pierre Letourneau, a High Net Worth Planner at TD Wealth, about what this new rule change means and why it may be more important than ever for couples to keep their Wills up to date.
You might not say it out loud, but you may privately wonder if your child’s marriage will stand the test of time. And if you also give or lend your child money from time to time, you may worry what might happen to that money if the marriage falls apart. Francois Desmarais, a Tax and Estate Planner at TD Wealth, joins Kim Parlee to discuss some ways to structure a gift or loan.
Being named an executor in a loved one’s Will can be a great honour. But it can also be confusing and time-consuming if you don’t know what to expect. This checklist may help you understand your duties.