Estate planning isn't just for large estates. It means organizing the transfer of your assets according to your wishes, protecting your loved ones and avoiding unnecessary delays, costs and conflict.
Why plan your estate
Without planning, the law decides for you: how assets are distributed, who becomes guardian of minor children, and who administers the estate. A clear plan puts you back in control and greatly reduces stress for your loved ones at an already difficult time.
The essential tools
- The will: it specifies who inherits what and who administers the estate.
- The power of attorney (mandate in case of incapacity): it names the person who will make decisions if you become incapable.
- Named beneficiaries: on life insurance and registered accounts (RRSP, TFSA), they often allow a direct, fast transfer outside the estate.
- Life insurance: it provides immediate liquidity to cover taxes, debts and expenses, and can equalize the inheritance among heirs.
Reduce friction for your loved ones
A well-planned estate is faster, less costly and less contentious. Keep your documents up to date after every major life change (marriage, separation, birth, home purchase, starting a business) and tell your loved ones where these documents are kept.
Note that preparing a will and a mandate is the role of a legal professional (notary or lawyer). A financial security advisor can help you coordinate these steps with your insurance and investment plan.
Questions about your situation?
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Book a consultationFrequently asked questions
Yes, as soon as you have assets, debts or dependants. A will also lets you name a guardian for minor children.
It provides an immediate, generally tax-free capital paid directly to named beneficiaries — useful to cover taxes, debts and estate costs, or to equalize the inheritance.
Yes. Naming beneficiaries on life insurance and registered accounts often allows a direct, faster transfer while avoiding some estate costs and delays.