About Estate Planning
24 articles
- Understanding what an estate plan isEstate planning means making sure your wishes are carried out if you pass away or become incapacitated. Here's what it involves and why it matters.
- Understanding what a Last Will and Testament isA last will and testament is the most important document in your estate plan. Here's what it covers and what happens if you die without one.
- Understanding what a Power of Attorney isA power of attorney lets someone you trust make decisions on your behalf if you're ever unable to. Here's what it covers and why it matters.
- Understanding the asset listAn asset list helps your executor find and manage everything you own. Here's what to include and how Willful's asset list tool makes it simple.
- Understanding when probate may be requiredNot every estate goes through probate but many do. Here's when it's required in Canada, when it can be skipped, and how the process differs by province.
- Leaving specific gifts in your willYou can leave specific items, money, or property to individuals or charities in your will. Here's how specific gifts work and how to add them on Willful.
- Understanding assets with designated beneficiariesRRSPs, TFSAs, and life insurance pass directly to named beneficiaries outside your will. Here's why that matters and what not to include in your estate.
- Including burial and funeral wishes in your willYou can include burial and funeral wishes in your will to guide your family. Here's what's legally binding, what isn't, and how to express your preferences.
- Understanding wills in QuebecQuebec has its own legal system for wills and estate planning. Here's what's unique, including terminology, will types, and what Willful covers.
- Understanding the RESP clause in your Willful willEvery Willful will includes an RESP clause that keeps your registered education savings plans open for the named beneficiary after you pass away.
- Understanding the Family Law Act clause in OntarioWillful wills in Ontario include a Family Law Act clause that protects your beneficiaries' inheritance from being shared as family property.
- What happens if I have out of province or country property?Out-of-province or foreign property can affect how your estate is settled. Here's what to know before you plan.
- Signing and witnessing your willYour will isn't legally valid until it's signed and witnessed correctly. Here's exactly what's required in your province and the mistakes to avoid.
- Signing and witnessing your POA documentsYour power of attorney must be signed and witnessed to be legally valid. Here's who can witness it and what the rules are in each Canadian province.
- Understanding when notarization may be requiredMost Canadian wills and powers of attorney don't need to be notarized. Here's when notarization is actually required and when it's just optional.
- Knowing when and how to complete an affidavit of executionAn affidavit of execution confirms your will or POA was properly signed and witnessed. Here's when you need one in Canada and how to complete it.
- Understanding and registering your willRegistering your will helps your executor find it when it matters most. Here's how Willful's built-in will registration feature works.
- Storing your estate planning documents safelyA signed will needs to be stored somewhere safe and accessible. Here's how to store your estate planning documents so they're found when they're needed.
- Notifying your key appointeesNamed someone as your executor, attorney, or guardian? They should know. Here's what to tell them and why having the conversation matters.
- Booking a Digital Execution appointment with Willful for BC ResidentsLive in BC? You can sign your will online with Willful's virtual witnessing service. Here's how it works and how to book your appointment for $49.
- Knowing when to update your legal document(s)Marriage, divorce, a new child, or a death in the family are all reasons to review your will. Here's when and why to update your legal documents.
- Changing an important roleNeed to change your executor, attorney, guardian, or beneficiary? Here's how to update important roles in your Willful will or power of attorney.
- Locating a loved one's willTrying to find a loved one's will after they've passed? Here's where to look in Canada, including provincial registries, lawyers, and common storage spots.
- Understanding the estate administration processWhen someone passes away, their estate needs to be settled. Here's a plain-language walkthrough of the estate administration process in Canada.