Create an Estate Plan
12 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.