Estates Trusts Journal

We all know we need a will, one that is current and reflects our wishes and changing life events. So why do two-thirds of Canadians still die without a will - without a plan for passing on their assets the way they want? Why do Canadians still risk losing everything to creditors or the government, or certain relatives being awarded assets by provincial government formulas, none of which were the deceased’s intention? Approximately one out of four Canadians die suddenly, so advance will and estate planning is critical. In this third edition of the bestselling The Canadian Guide to Will and Estate Planning, Canada’s foremost author team of experts in estate planning provide you with insights and options, practical suggestions, and authoritative guidance. You can then discuss your customized and evolving needs and wishes with your professional advisors in an informed fashion, to ensure your assets are protected and your family and beneficiary needs are met with strategic tax and estate planning. This approach will save you time, money, tax, stress, and anxiety. Using practical checklists, real-life examples, and answers to frequently asked questions, Douglas Gray, LL.B, and John Budd, F.C.A., provide helpful guidance on many important topics, including guardianship, powers of attorney, trusts, probate, special options for small and family businesses, passing on the family cottage, charitable giving, tax planning, estate planning, insurance and much more. Also includes an extensive glossary and appendix, and invaluable resource information and websites. Completely updated to reflect the latest changes in relevant legislation and taxation, and with a new chapter on preserving and increasing your net worth, The Canadian Guide to Will and Estate Planning explains how to: Obtain expert legal advice to prepare a will to protect your interests and assets Ensure that your assets will pass to the intended beneficiaries without hassle Use special legal and estate planning strategies to protect your business Avoid family feuds and spousal disputes Minimize or avoid income taxes and capital gains taxes through strategic tax and estate planning Use the latest tax laws to maximize the benefits of charitable giving Don’t let the government be your principal beneficiary – take the time to plan ahead!

Let’s face it: you can't avoid death or taxes. But you can create an estate plan that will make both a whole lot easier for your loved ones and put you in control of how your assets will get passed to your heirs. Here, Wall Street Journal personal-finance reporter Rachel Emma Silverman walks you step-by-step through the process. Chock-full of clear and solid advice on how to get the most out of the main estate planning tools - including wills, trusts, life insurance, guardianship papers, and powers-of-attorney documents - the Wall Street Journal Complete Estate-Planning Guidebook will help make your estate-planning process as simple, smooth, and unintimidating as possible. This book will help you: · Clarify your estate-planning goals, such as dividing up property for heirs, reducing taxes or leaving money for charity · Understand the key estate-planning documents you’ll need, including wills, beneficiary-designation forms, powers-of-attorney and health-care advance directives · Decode the technical jargon that estate planners often use, so you feel comfortable discussing QTIPs and QPRTs when you sit down with your lawyer. · Reduce possible estate, gift or generation-skipping taxes and legal and probate fees – decreasing what goes to the tax man and increasing what goes to your heirs · Learn strategies to divide money and personal property among your heirs, and reduce the possibility of family fights · Discuss sensitive estate-planning issues with your family · Maintain your estate-plan over time, including how to store and when to update your documents With completely up-to-date information on how to navigate the new 2011 estate tax legislation, and thoughtful advice on how to handle your estate in complicated situations – like if you’re single, in a same-sex relationship, or wish to provide for children with special needs - this is the estae-planning guide for today’s messy and complicated world. One of the biggest estate planning mistakes people make, says Silverman, is waiting too long to start. Which is why the Wall Street Journal Complete Estate-Planning Guidebook isn’t just for those planning for retirement or their golden years. It’s for anyone, of any age, who wants the peace of mind of knowing that your wishes will be respected and your hard-earned money will get passed on as you would like.

Over recent years, leading lawyers at View Legal have been fortunate to have had articles featured in The Tax Institute's monthly Blue Journal. This book consolidates each of the articles in one central location. The articles featured are as follows: 1. The use of special purpose trusts in estate planning - part 1 2. The use of special purpose trusts in estate planning - part 2 3. Trust assets and estate planning: how has the dust settled after Kennon v Spry?4. Failed trust distributions: their tax consequences 5. Fixed Trusts and unit trusts: one and the same? 6. Testamentary trusts - bespoke planning opportunities. 7. The Clark decision possible consequences of CGT event E4. 8. Bust proofing trusts.

This isn't one of your average estate planning books nor is it about wills and trusts for dummies or financial planners. It isn't about death, dying and bereavement. This is a personal journal to help guide you and your brother through some of the end-of-life planning together so that he will have the peace of mind knowing after his passing his family will not have to struggle through the challenges of lawyers and accountants and wills and courts and fighting over estates and...and...and... It's also about making the most of your remaining time together. Life happens. Some things you can't do much about. Others, you can. You are watching your brother die and you want the rest of your time together to count but you feel a bit helpless, and maybe not exact sure what to do. Here's a smart idea. Seize the opportunity to be his Strong Advocate. Your brother needs you to ensure that his final days are as calm, comfortable and pain free as possible. Someone to hold doctors accountable to the best treatment available. Someone to make sure that his personal affairs are in order and his family is looked after. He needs and trusts you to be his strong advocate, and to do it right. Think of this as your own personal journal for end-of-life planning for your brother, and not some cold impersonal off-the-shelf estate planning book about wills and trusts. Be confident that his journal will help guide you through some of the complexities of end-of-life planning as it prompts you to consider things like medical, financial, legal, spiritual, and estate organization. The back section of your journal also has extra pages to collect your thoughts and document important events. Having an advocate for health care these days is a very good thing, but a big part of the transition through end-of-life that will help comfort your brother in his last days will be knowing that everything has been taken care of and that your family won't be burdened by all the matters of estate after passing. But here's a hard reality of being the strong advocate for your brother. If you haven't got what it takes to be that advocate, or maybe you're going to be that emotionally charged family member that is out to crusade for your brother's health and focus on nothing else, then maybe you want to rethink your role a bit. He doesn't need you to be on an emotional campaign. He needs you to be there for him rationally, and to manage his affairs thoroughly. So if that's not you, then find the right person and give them a copy of this journal and consider other ways that you can help. Your brother is trusting you to give peace of mind to everyone so do it. Get organized with this end-of-life planning journal and make things easier for you and those around you.