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Vol 24 No 2 Feb/March 2019

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You Can't Take It with You 3rd ed

ISBN13: 9780471644286
ISBN: 0471644285
Published: October 2000
Publisher: John Wiley & Sons Ltd
Country of Publication: USA
Format: Paperback
Price: Out of print

The revised and updated edition of the bestselling You Can't Take It With You. If you own a house, RRSPs, or even just have some savings stashed away, then you have an estate. And if you don't plan for what happens to your money, your children, your house and other assets upon your death, then the government will make those decisions for you - and might end up with a bigger share than anyone else.

Preface. Acknowledgements. Estate Planning Checklist.
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/Seniors Benefits. Workers' Compensation. War Veterans Allowances. Company Pension Plan. If You Are Not Retired. If You Have Retired and Are Receiving a Penion. 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. Moving. Legislation Changes. 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.
Chapter 7: What Happens on Death. Probate. Probate Fees. Strategies for Reducing Probate Fees. Designated Beneficiaries. Joint Ownership of Assets. Real Estate. Other Assets. Gifts. Multiple Wills. 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