![]() With regards to property or bank accounts, are there any of them owned jointly with your spouse?ĭo you own any foreign assets? If so, note the location if outside your province. You will want to make an up-to-date list of your significant assets, including any life insurance policies, real property and other items. What assets do you currently own (including life insurance policies, digital assets, etc.)? Learn more about choosing the right person for your estate administration here. Your executor administers your estate and carries out many responsibilities. You can even select two or more individuals to act as co-executors but remember that they must work jointly to manage your estate efficiently. Typically, spouses are named as the primary executors, but it’s important to consider alternates, such as close friends or family members, in case your spouse cannot fulfill this role. The executor of your estate plays a pivotal role in ensuring your wishes are carried out according to your will. Who will be your executor or estate trustee? You need important documents, such as your powers of attorney, to allow someone to make critical decisions about who will manage your financial and healthcare affairs if you become incapacitated. However, it’s not just about your last will and testament. Without a comprehensive estate plan, the distribution of your assets can become a contentious and complex process, potentially leading to disputes among family members. It will help your estate trustee make decisions and move more quickly through the probate process. Not only does it safeguard your assets, but it also ensures that your loved ones are taken care of, and your final wishes are honored. ![]() The importance of a proper estate planĪ well-thought-out estate plan is incredibly important. Let’s delve into some of the essential decisions you must make during your estate planning process. ![]() In this blog, we will provide an estate planning checklist with many areas to consider. It will make your wishes clear, can help you lower probate fees and minimize your estate trustee’s liability. ![]() Planning ahead for the future, seeking professional advice and creating estate planning documents has many benefits. Whether you have a complex or simple estate, putting an estate plan in place is a gift to your loved ones. It allows you to make important decisions about the future of your assets, your loved ones, and even your own well-being. It does not purport to be exhaustive.Įstate planning is a crucial process. This article is not intended to be relied upon as the giving of legal advice. It is to be used only for the purposes of guidance. Disclaimer: This article is intended for the purpose of providing an estate planning checklist. ![]()
0 Comments
Leave a Reply. |
Details
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |