Preserve what you built, prepare for incapacity, and give the people you love clear instructions for the future.
A Will is vital — but it is only one part of a plan designed to work throughout life.
You manage your property, income, investments and care. This is the time to choose who should act if you cannot.
Powers of Attorney and advance-care wishes can give trusted people lawful authority to manage finances, personal care and important decisions.
Your Will appoints an Estate Trustee, directs your estate and can create thoughtful arrangements for children and other beneficiaries.
These documents work together. They are related, but they are not interchangeable.
Names your Estate Trustee, sets out gifts, identifies beneficiaries and directs the residue of your estate after death.
Appoint people to act during your lifetime for property and personal care if authority is needed.
Records values and wishes to guide future health-care decisions if you cannot speak for yourself.
An inter vivos trust is created during life; a testamentary trust can arise under a Will to manage property for beneficiaries.
Knowing your wishes is not the same as having legal authority to carry them out.
Planning ahead lets you identify trusted people and provide a roadmap before a crisis.
How an asset passes can depend on ownership, beneficiary designations, contracts and applicable law. Review the whole financial picture.
May pass by survivorship where the ownership and law support that result.
May pass to a named beneficiary under the policy rather than through the Will.
Beneficiary or successor designations can affect how and to whom value passes.
Plan terms, legislation and current designations may govern payment.
Assets held by a trust are administered under its terms.
Other property may require administration by your Estate Trustee under the Will.
In Ontario, probate is commonly an application for a Certificate of Appointment of Estate Trustee. Whether it is required depends on the estate, assets and institutions involved.
Minimize unnecessary cost, delay and complexity while preserving control and protecting the people you love.
Review ownership, taxes, debt, insurance and appropriate trust strategies.
Prepare for incapacity and safeguard dependants with appropriate authority.
Plan for taxes, debts, fees and family needs without a forced sale.
Keep an organized estate inventory so your executor is not left guessing.
Use these resources to begin organizing your wishes, assets, key contacts and questions for your professional advisers.
Download the Will Kit Estate Planning Checklist Personal Estate Inventory
This page provides general information only and is not legal, tax, accounting or financial advice. Estate planning, trusts, probate, taxation, beneficiary designations and creditor-protection outcomes depend on individual circumstances, document wording and applicable provincial law. No document or strategy makes every asset automatically "probate-proof" or "creditor-proof." Guardianship and the authority needed to manage benefits or financial affairs also depend on the facts. Obtain legal documents and advice from a qualified lawyer and seek advice from other appropriately licensed professionals. References to Ontario procedures may not apply in other jurisdictions.
A current Will, organized records, clear beneficiaries and appropriate insurance can turn good intentions into a plan. InsuranceVilla can help coordinate the insurance side with your legal and tax professionals.
Start an Estate Planning ReviewGeneral information only. This guide is not legal, tax, accounting, financial or insurance advice. Estate planning outcomes depend on individual circumstances, document wording and applicable provincial law. Obtain advice from a qualified lawyer and other appropriately licensed professionals. Insurance products are subject to contract terms, conditions and underwriting.