Basic estate planning is a necessity for every Canadian. Many Canadians believe that estate planning begins and ends with a will. However, a basic will is merely one part of three necessary fundamentals in a simple estate plan. By proactively consulting an estate and retirement planning specialist, you can save yourself a great deal of heartache and problems in the long run.
The three fundamentals of a basic estate plan are:
- A Will
- An Enduring Power of Attorney
- A Personal Directive
A will is legal declaration of how a person wishes his or her possessions to be disposed of after death. An enduring power of attorney determines who will administer the financial side of your estate. A personal directive assigns an agent to manage all non-financial matters, such as your personal care and health choices.
MacMillan has an extended history of assisting people plan their estates. Our firm maximizes benefits for families by offering sound advice on real estate tax, probate law, trust planning and other areas of estate planning. Please contact us today for more information about our services.