Rights Contact Login For More Details
- Wiley
More About This Title You Can't Take it With You:The Common Sense Guideto Estate Planning for Canadians 4E
English
English
Acknowledgements
Estate Planning Checklist xix
Chapter 1: What is Estate Planning?
What Should Be in an Estate Plan?
When Should You Prepare an Estate Plan?
Do You Want the Government to Be One of
Your Beneficiaries?
Is It Worth Preparing an Estate Plan?
Chapter 2: Will There Be Anything Left?
Retirement Planning
A Cash Flow Analysis
Increase Your Income Through a Reverse Mortgage
Common Death Benefits
Canada Pension Plan/QPP
Old Age Security
Workers' Compensation
War Veterans Allowances
Company Pension Plan
If You Are Not Retired
If You Have Retired and Are Receiving a Pension
Other Benefits
Summary
Chapter 3: Dying Intestate: Distributing Your Estate Without a Will
Who Gets What
Delays in the Distribution of Your Estate
Higher Cost of Administering Your Estate
Additional Income Taxes Payable
Lost Investment Opportunities
Appointment of Guardians
Underage Beneficiaries
No Provision for Joint Disaster
Summary
Chapter 4: Distributing Your Estate Through a Will
Who Gets What
Reducing the Cost to Die
Making the Gift More Tax Effective
What Is Fair?
Your Executor
Responsibilities of the Executor
Powers of the Executor
Appointing Your Executor
Compensating Your Executor
Keeping Your Will Up to Date
Legislation Changes
Moving
Marriage and Remarriage
Separation
Divorce
Summary
Chapter 5: The Format of a Will
Common Clauses
Identify the Testator
Revoke All Previous Wills
Appoint Your Executor
Authorize Your Debts to Be Paid
Specify Who Gets What
Make Any Specific Bequests
Distribute the Residue
Optional Clauses
Appointing a Guardian for Minor Children
Managing Assets for Minor Children
Common Disaster Clause
Investment Powers of the Executor
List of Allowed Investments
Prudent Investor Standard of Care
Alternate Beneficiary for Life Insurance
Name a Beneficiary for RRSPs and RRIFs
Establishing Testamentary Trusts
Helping Your Children Protect Their Inheritance
Handwritten, Forms, and Formal Wills
Signing the Will
Chapter 6: Distributing Your Estate by Giving It Away Now
Giving Away Personal Possessions
Giving to Your Adult Children
A Loan Versus an Outright Gift
Gifts to Young Children
Gifts to Charities and Charitable Foundations
Summary
Chapter 7: What Happens on Death
Probate
Probate Taxes
Strategies for Reducing Probate Fees
Designated Beneficiaries
Joint Ownership of Assets
Real Estate
Other Assets
Gifts
Multiple Wills
Testamentary Trusts
Inter Vivos Trusts
Alter Ego or Joint Spousal Trusts
Converting Personal Debt to Secured or Corporate Debt
Summary
Chapter 8: Financial Powers of Attorney
The Power of Attorney Document
If You Live in Ontario
If You Live in British Columbia
If You Live in Quebec
If You Live in Alberta
Selecting Your Power of Attorney
The Powers of the Attorney
Preparing a Power of Attorney
Reviewing a Power of Attorney
Revoking a Power of Attorney
Compensating a Power of Attorney
Summary
Chapter 9: Death and Taxes
Principal Residence
Spousal Transfers
Additional Contributions to a Spousal RRSP After Death
Assets Not Left to a Spouse
Farm Property
Tax Implications When Naming Beneficiaries
Capital Gains and Losses
Income Taxes Due from Capital Gains
Charitable Donations
Registered Plans: RRSPs and RRIFs
Naming Your Beneficiary
A Spouse
RRSP
RRIF
A Dependent Child or Grandchild
The Estate 152
Someone Else 153
U.S. Estate Taxes 155
Estimating Your U.S. Tax Bill 156
Strategies to Reduce Your U.S. Estate Tax Bill
Chapter 10: Filing the Final Income Tax Returns
Deadlines
Optional Returns
A Return for Rights or Things
A Return for a Sole Proprietor or Partner
A Return for Income From a Testamentary Trust
Tax Returns for the Estate and Testamentary Trusts
Chapter 11: Family Law and Your Estate Plan
Support and Maintenance
Common-Law Relationships
Same-Sex Relationships
Divorce
Moving
Matrimonial Property
Marriage Contracts
Family Law for Ontario Residents
The Equalization Payment
In Quebec
Summary
Chapter 12: Life Insurance
Buying Life Insurance
How Much?
What Kind?
Term
Term to 100
Whole Life
Universal Life
Naming a Beneficiary
Life Insurance Premiums Versus Income Tax
Joint Life Insurance Policies
Joint Second to Die
Joint First to Die
Living Benefit
Segregated Funds 195 Naming a Beneficiary
The Guarantee
Creditor Protection
Chapter 13: Trusts
The Trust Agreement
Beneficiaries
The Trustee
Powers of the Trustee
Testamentary Trusts
Spousal Trusts
Family Trusts
Trusts for Children
Trusts for Income Splitting
Trusts for Children Over 18
Trusts for Spendthrifts
Trusts for Family Members with Special Needs
Inter Vivos Trusts
Bearer Trusts
Trusts and Taxes
Testamentary Trusts
Ongoing Taxation
Inter Vivos Trusts
Ongoing Taxation
Taxation of the Alter Ego Trust and
Joint Spousal Trust
21-Year Rule
Costs for Establishing and Maintaining a Trust
Dealing with the Family Cottage
Summary
Chapter 14: Business Succession Planning
Selling the Business
Keeping it in the Family
Potential for Family Conflict
Tax Planning
Estate Freezes
Estate Freeze Through a Holding Company
Estate Freeze by Reorganizing a Corporation
Needs of Business Partners/Shareholders
Partnership Agreements
Shareholders' Agreements
Using Insurance to Finance a Buyout
If Your Business is a Farm
Summary
Chapter 15: Gift Planning
Maximizing the Tax Benefits of Gift Planning
Ways to Make Planned Gifts
Gifts of Cash
Gifts Through a Will
Gifts of Other Assets
Gifts Through Life Insurance
Changing the Beneficiary
Assigning an Existing Life Insurance Policy
Purchasing a New Policy
Gifts to Foundations
Crown Foundations
Community Foundations
Gifts to the Government
Gifts of Ecologically Sensitive Land
Gifts of Cultural Property
Other Gifts to the Government
Other Types of Gifts
Gift Annuity
Charitable Remainder Trust
Gift of Residual Interest
The Process of Gift Planning
Summary
Chapter 16: Documents Concerning Health Care
Living Will
Power of Attorney for Health or Personal Care
Summary
Chapter 17: The Final Gift
Organ and Tissue Donations
Signed Donor Cards
Donating Your Body for Medical Research
Chapter 18: Planning Your Funeral
Executor's Responsibility
Costs
Preplanning
Prepaid Funerals
Chapter 19: You Can't Take it With You
Tax Planning
Working With Professionals
It's an Ongoing Process
Moving Through the Stages of Life
Single
No Kids (SNK)
With Kids (SWK)
Married
No Kids (MNK)
With Kids (MWK)
Second Marriages
Same-Sex Partners
Close to Retired or Retired
Elderly
The Six D's
Talking With Your Family
Now Do It!
Chapter 20: Getting Organized and Keeping Records
Simplify, Simplify, Simplify
List of Executor or Estate Trustee Duties
Glossary
Index
Suggestions and Seminars 320
English
— Martin Levin, The Globe & Mail
"...astonishingly good. It's a fine reference book and an essential guide to those who have or will have wills to sign, estates to administer, or assets to pass on to future generations."
— Andrew Allentuck, Quill & Quire
"It addresses ore estate-planning issues than any other book I have seen and...gives balanced sensible advice....I'm adding it to my recommended list of personal finance books."
— Ron Chalmers, Money Matters, The Edmonton Journal
