A will is necessary to minimize the amount of estate settlement expenses, reduce taxes and legal costs, lessen legal challenges and red tape, and control asset distribution after your death.

Writing a will is not a task to handle alone, especially in today’s complex world of family law.

To ensure everything is handled correctly, it is best to consult with your Chartered Professional Accountant.

To maximize the benefits of a properly drawn will, you should consider reviewing your will in conjunction with the potential estate of your spouse. As well, coordinating the preparation of your will with the preparation of personal financial statements will ensure that all details will be properly administered with no surprises.

The BNG Bossy Nagy Group estate planning team follows an eight-step process, The Estate Plan Experience, to walk our clients through the development of their estate plan. This unique process provides our clients with everything required to feel comfortable and satisfied that their affairs are in order.

1. Meet with your chartered professional accountant to discuss and review the latest financial statements of your company or business.
2. Review your personal tax status.
3. Prepare a list of all personal assets, investments, deferred and current liabilities, digital assets, and all of the data necessary to help you make personal financial decisions.
4. Prepare a list of all your dependents, their ages and their relationship to you.
5. Prepare the names and addresses of your chosen estate trustee(s) and executor(s).
6. Prepare names and addresses of all those that are to receive specific pieces of property.
7. Prepare names and addresses of those who will receive the residuary estate and determine the share that goes to each.
8. Prepare names and addresses of those that are to be the guardians of your children.

Contact the estate planning team at BNG for more details on how to protect the legacy you have built.