Over one-third of Canadians don’t have a valid will; even at the low end, that’s a sorry state of affairs. If clients don’t want the division of their assets to end up in court, help them make decisions now.
Creating a will—while important for any client—is particularly critical for business owners. And more than one-third of Canadian small business owners are actively putting a succession plan in place, says a BMO study released today, which is a significant increase from the 15% who reported having a plan in 2010. Read: Small businesses lag on […]
Misappropriation of your money, lost family treasures, and feuding heirs are every business owner’s biggest nightmare. Here’s how to ensure you pick the best manager for your estate
How to duck a knockout blow to your estate
Your clients are living longer. And, as a result, are more likely to face complex health issues. While they may have a will, it’s crucial to remind them that it won’t cover potential incapacity and all health issues. Read: Don’t assume your client has a will The number of seniors aged 65 and over increased […]
The majority of Canadians (78%) have no experience managing an estate, finds a CIBC poll.
One third (31%) of Canadians between the ages of 45 and 64 don't have a will, according to a CIBC poll conducted by Harris/Decima. And of those who do, the majority (44%) hasn’t updated it in more than five years.
Should parents let children know they’re in the will?
Much has been made of the trillion dollar wealth transfer expected to take place over the coming 20 years, as the accumulated assets of the massive boomer generation is handed down to their children. But the expectations of those heirs may be quite inflated, according to a survey by Investors Group.
Probate-related questions are among the most common questions heard during estate planning discussions. What is probate? Can it be avoided? Should it be avoided? As an advisor, it’s important to be able to answer those questions.