Don’t Die, at least not without a Will

Dying without a will is called, “dying intestate.”

1. It is important to have a basic estate plan.
An estate plan ensures that your family obligations and financial goals are met after you die.

2. An estate plan has several simple elements.
They include: a will; assignment of power of attorney; and a medical power of attorney (sometimes called a living will or healthcare proxy). For some people, a trust may also make sense. When putting together a plan, you must be mindful of both federal and provincial laws governing estates. 

3. Creating a plan is not as scary as you may think.
There are three basic questions that you must answer:  Whom do you want to inherit your assets? Whom do you want handling your financial affairs if you’re ever incapacitated? Whom do you want making medical decisions if you become unable to make them for yourself?

4. Everybody needs a will.
A will tells the world exactly where and how you want your assets distributed upon your death. It is also the best place to name guardians for your children. Dying without a will - also known as dying “intestate” - can be costly to your heirs and leaves you no say over who gets your assets.

What is the next step?  Go Here to Learn More.