IMPORTANT INFORMATION FOR YOUR FAMILY
If you are:
- Preparing your Will;
- Updating your current Will;
- Considering or currently acting as an Executor or Estate Trustee for a friend or relative.
There are practical and personal risk implications that you should understand and plan for.
Estate litigation (suing estates and estate executors) is being called “the new legal frontier” in the context of an aging population; this is a significant uninsured personal risk for ordinary people that become involved in estate administration for a friend or family member.
We have prepared A Practical Guide to Inheritance Planning that will help you:
- Protect your named Executor(s) from significant risk through a simple provision in your Will.
- Identify the key personal security information you’ll need to communicate to your Executor and your family.
- Identify the role and responsibilities as an Executor during administration of an Estate and risk management solutions, including insurance protection when available.
- Get started with the basic information required to have a professional prepare your Will if you don’t already have one. Nearly half of all Canadians have no Will; the government has rules on how to distribute your assets if you don’t have a Will – this might be a problem for your survivors.
- Understand what happens if you are unable to look after your health and financial affairs due to illness or injury; the government also has rules on who makes your decisions for you when you don’t have a Power of Attorney prepared – this might be a problem for you, personally, and your family members.
If you are currently acting as Executor, or may be in the near future, please contact our office to receive a complimentary copy of the “Executor Guide”. The Executor Guide will help to:
- Identify possible estate risk areas
- Provide you an outline of the many duties of the executor and help you get started
- Assess if executor liability insurance makes sense for you in reducing your own exposure.
Contact our office if you wish to receive a complimentary copy of A Practical Guide to Inheritance Planning and/or Executor Guide.
If you know anyone that may also benefit from receiving a copy of these guides, please have them contact our office 416-667-9177 or email at moc.esnifnac@etatse and we would be more than pleased to forward them one.