I hosted this #webinar on May 27th/2014 for Canadians interested in getting their most common questions about wills and estates answered. I had convinced Manitoba lawyer and estate specialist Caroline Kiva to have a 45 -60 minute digital fireside chat. Question and answer style, but NOT as creepy as most politicians She did an excellent job answering the following questions…
- What is typically involved in establishing an estate plan? And which professionals are typically involved?
- Why do I need a Will and what happens if I die without a Will?
- For clients who have minor children, are there specific provisions in the Will that need to be addressed?
- Why do I need a Power of Attorney?
The Nitty Gritty
- Can you comment on when Joint tenancy is most applicable for clients?
- How do I transfer assets such as Cottage, Investment Account, Business to the next generation?
- Briefly what are some points to consider for clients purchasing U.S. real estate?
- Will there be taxes that may also have to be paid on death?
- Do you recommend insurance as part of estate planning?
- Recently the 2014 budget announcement indicated a change to the taxation of testamentary trusts. Can you briefly outline those changes?
- Can you outline some non-taxable benefits reasons to still consider using testamentary trusts in an estate plan?
- Can you outline some of the expenses that arise during the administration of an estate?