According to recent data, more than 7 out of 10 family businesses have no succession plan at all.[1] That may sound surprising, but it’s a common story. A family business may hope that one day a child will take over the business, but that hope may...
Although men currently donate more in terms of dollar amount, Canadian women are slightly more likely than men to donate to charitable organizations.[1] That’s changing, though, as women’s income increases over time. Between 1985 and 2014, for example, the value of women’s donations tripled.[2] When you...
Life is not for the faint of heart. As longevity increases, it becomes more common for Canadians to face a serious illness before their death. In fact, data from Statistics Canada suggests nearly half of Canadian deaths can be attributed to cancer and heart disease alone.[1] While...
“The road to success and the road to failure are almost exactly the same.” –Colin R. Davis Anyone who sets out to put together a will has the best of intentions. They want to ensure their family is cared for. And in some ways, creating even...
For most people, creating a will is nothing more than a task on a to-do list. You want to finish it up, check it off your list and forget about it. The problem is, circumstances change. You may have gotten married, been divorced, had children, started...
According to a recent survey by Lawyers’ Professional Indemnity Co., the majority of Canadian adults don’t have a will. No doubt there are a number of reasons for that, but an estate plan isn’t just for the elderly or the wealthy. Most people put together an...
When people think of estate planning, they usually think about a will. A basic will names your beneficiaries and the assets they will receive. It can be a very simple document that is completed in a short period of time. But while that basic will may...
What have you always wanted to do? Some people have a lifelong dream to visit a faraway place, such as New Zealand, Ireland or even Whitehorse. Others dream of owning a cottage in a rural area. For others, starting a new business is their main...
When it comes to planning your estate, some decisions are easier than others. Some of the hardest decisions involve choosing the right people to take your place when you’re gone, including your executor and the guardian of your children. The two roles are very different, but...
More than half of Canadians don’t have a will. Ultimately, this lack of foresight is a truly selfish decision. It leaves your family members in a terrible position where they have to guess what you would have wanted. Let’s say you didn’t do any estate planning....