According to the Ontario Bar Association, only 44% of Canadians have a Will. If you are not already a member of this prepared group of Canadians and would like to join the club, please contact Ashley Doidge at 416-224-1996, ext. 217 ) or Eric Gossin at 416-224-1996, ext. 210 ().
Why Do Some People Sign Two Wills?
Do you own shares in a private corporation or valuable personal effects such as jewellery, cars or art? Are debts owed to you? Are assets being held for you in trust?
If you answered “yes” to any of the above questions, you may be a good candidate for two Wills and may be able to substantially reduce Estate Administration Tax applicable to your estate.
Do you own a family business?
Have you considered the advantages of an Estate Freeze to reduce taxes owning at your death?
Do you have RRSPs, TFSAs, RRIFs or Life Insurance?
Have you considered the advantages of making proper beneficiary designations for these?
Is this your second marriage and do you have children from your first marriage?
Have you considered a spousal trust to ensure both your spouse and children inherit from your estate?