Estate planning

Your will sets out how you want your assets distributed after your death. Learn more about why a will is important and what to include in it.

Ensuring that your personal and financial affairs are well organized in advance will make it easier for someone to step in and help out if needed.

A trust is created when you transfer ownership of your assets to a trustee, with instructions for them to use those assets for the benefit of a beneficiary.

If you are a business owner, your estate plan should cover both your personal and business assets.

When you die, your debts must be paid first. Learn about some of the common estate costs and how to manage them.

A power of attorney is a legal document that gives someone else the legal ability to act and make decisions for you in certain situations. Talk to your family and your advisor about your plans so you’ll be prepared.

Naming an executor is important for estate planning. You’ll want to choose someone who is willing and able to carry out the tasks required to settle your estate.

If you or members of your family live outside Ontario – or own property in other provinces – some of the rules that apply to your estate will be different than the rules mentioned here.

Estate planning involves identifying who you want to give your assets to, and when.