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, m WMW-MAprlllJOlZ'B ' ' egi â€" th b ' tate p anmng strat es e asrcs an eyon D one or us like to think about our end of days but we Beyond the basics here are some things you should con- long as the assets are held by the trust. Although it is possi- should it we want our legacy to be passed on as we sider. “0 (0 ”(UR a trust dunns your lifetime. most P00” set up wish, to ensure our family is protected and to limit Mano“ trustsin MW“!- the taxes levied against our estate. Probate is the process by which your will is validated by a A trust set up in yourwill is known” a testamentary trust That's why estate planning is so important. Here are the court with fees paid to your provincial wermnent usually and it can serve several purposes, including maintaining basics calculatedonthenetfalrmarketvalueoftheassetslnyout controlover‘theassetsuntilcertainbenefidsriesarernature estate. Although reducing probate fees may be desirable, enoudi to may them and pruddirigcertaln tax benefits I . A will is the foundation of any estate plan. it designates avoiding probate through the use of strategies such as bene- to high-income beneficiaries _ ' 3 how your estate should be distributed. If you die without a ficiary designations and joint ownership can lead to prob~ Your personal estate planning strategies depend on your . will the. intestate). provincial legis- Iems if some beneficiaries receive more of the estate than financial situation and the mles in your.province. Your pro- Iation will determine how your others fessional advisor and lawyer can help ensure your legacy is i r. h i \\ estate is distributed amongst your These comments are based on the probate prom out- left asyou wish while limiting probateoostsand taxes. heirs. side of Quebec. since the probate process is different in that no ‘ . \I( )\l \ province. miscolumnisprwiddbyMcEachriieGmupMmM/ealth ; - A living will provides direction ‘ Set up a'li-ust? Managment CattactRunMcEachuk, mm mm at r for your care in the event of A trust spectfles a trustee who wrll manage the assets so 5)9â€"8$-23&J.ex124lorpmwamssmceadmum is \ catastrophic illness or dis- . it ability. . . - An enduring Power of ' - ' ' a we one s a I 61," ‘- { date in case of incapacity in __ s - i Quebec) provides direction »‘ ‘ " for how your property will be ' ' managed in the event of incapacity. r I 0 An executor (sometimes called a personal repte- ’ sentative or in Quebec. 3 liquidator) is the person named in your will to settle your estate according to your documented wishes. - A guardian should be named in your will to take A ‘ care ofyour children during their minority. 0 liquid assets are important to pay for taxes. debts. .~ " i P R lZE . the costs of settling your estate and/or other obliga- ‘ ., a e ‘ tions. it you do not anticipate your estate having sufii- i r (A ..» ‘ . l E XA [A P L E S cient liquid asst‘ls. consideration should be given to ha (] L » 7 ’ [A 0 ur b St purchasing insurance. . g; ’ - ‘ y e p ~ VEHICLE“ i L ._ f “RE ' Funeral son-ices can be prearranged to save your I“ . ( estate some money. avoid extra stress on your sur- iFlrSl'ZO ORV ’ ‘ deal ' S3 00 GAS “you and ensure the service is according to your W FWANClNG CA R D or wishes. r ' ~ ‘ ' I . test drives then pop . 0 Financial assets should he comprehensively listed . :: ‘ '.' S 9 O O R U S T in your records â€"â€" â€" and he sure your executor and/or recewe a . I I a balloon Sun'l\()l'.\ know “ht-re to find them. h ._ P R 0 OF or ' vouc .er 0 l - ‘ , . , 0 - owmal 3YRFREE . , toward mowe . Didntgetyom _ A ”28 OIL I “ War Amps key tags iiCkeiS DAG CHANGE â€" ' in the mail? - Order them today! Attach aWat Amps ’ confidentially coded key tag to , ' your key ring. it‘s a safeguard for 1 ” all your keys - not just car keys. , ' ’ If you lose your keys. v4 _ The War Amps can (all!!! use them to you by m â€" , . free ofcharge. , R I When you use War Amps 0ch 0 key tags. you support the Child Amputee This “WW” HONDACINI mummtx "Nifty" do... Example 010.997. base on $10,000 over 36 months. interest is $153.44. Therefore total payment is $10,153.44. ,/ if ' ‘Soe us for details. mum Am ‘ ‘ it rmmn’; ' , www.waterloohonda.rom u 6 ~ "mom -' 545 KING 87. N. “UN l m > ‘ ‘u-Nshle y m .,.m:'g:;;q .. mm,“ wan-5mm , m" j... Mot Dre-m- 519-745-412° u n u . ».. J -â€"â€"_â€"_â€"â€"-â€"â€"â€"â€"â€"_â€"â€"â€"__â€"7~7W â€" . . f