7 Situations Where You Would Use a Codicil

7 Situations Where You Would Use a Codicil

A codicil is a document that’s used to update a will. It’s generally used when a person has already created an existing will but wishes to make small changes to reflect financial circumstances or lifestyle changes that could impact the estate. This document lets them make alterations without having to create an entirely new will. […]

Avoid Family Estate Conflicts with These 5 Strategies

Avoid Family Estate Conflicts with These 5 Strategies

It’s every parent’s dream to be able to pass along their legacy and leave something substantial and meaningful behind for their family. However, if you don’t tread carefully when creating your inheritance plan, you could end up inadvertently causing resentment between siblings and altering the family dynamic. To ensure everyone is happy and that you’re […]

How Does Estate Planning Reduce Probate and Taxes?

How Does Estate Planning Reduce Probate and Taxes?

Do you know what happens to your estate after you pass away? After death, your executor is responsible for securing all your assets, paying your debts, and applying for probate. Although there isn’t an estate tax in Canada, there are other fees that exist to process and probate your will. And like all other debts, […]

Managing Bad-Blood Between Your Heirs

Managing Bad-Blood Between Your Heirs

Every parent dreams of passing on a significant legacy to their children. However, their wishes often don’t materialize due to poor estate planning. Misconstrued details can leave a family in disarray, resulting in conflicts among the family. It’s important to plan properly and anticipate any conflicts that your estate plan could cause between your spouse […]

3 Investment Rules for Estate Trustees

3 Investment Rules for Estate Trustees

An estate trustee is responsible for performing various duties to encourage the wellbeing of the estate in question, as well as its beneficiaries. Among those duties includes careful and thoughtful investment in order to bolster the strength of the estate. There are three main rules pertaining to this duty, and by following them diligently and […]

Will a Codicil Suffice?

Will a Codicil Suffice?

When you have a will, it’s crucial to keep it up to date and current. And if you have undergone changes that can affect your beneficiaries, you should review your will and consider making an amendment. Depending on the complexity of the changes, you may be able to draft a codicil instead of an entirely […]

*The opinions expressed are those of the author and not necessarily those of Assante Financial Management Ltd.