Wills and Will Planning Rbc Dominion Securities Inc

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WILLS AND WILL PLANNING RBC DOMINION SECURITIES INC. FINANCIAL PLANNING PUBLICATIONS At RBC Dominion Securities Inc., we have been helping clients achieve their financial goals since 1901. Today, we are a leading provider of wealth management services, trusted by > more than 500,000 clients globally. Our services are provided through your personal Investment Advisor, who can help you address your various wealth management needs and goals. The Wealth Management Approach includes the following: > Accumulating wealth and growing your assets > Protecting your wealth by managing risk and using insurance or other solutions > Converting your wealth to an income stream > Transferring wealth to your heirs and creating a legacy In addition to professional investment advice, RBC Dominion Securities Inc. offers a range of services that address your various tax, estate and financial planning needs. One of these services is an extensive library of educational guides and bulletins covering a wide variety of planning topics. Please ask your Investment Advisor for more information about any of our services. Please note that insurance products and, in certain instances, financial planning services are offered through RBC DS Financial Services Inc. Please refer to the back cover for additional information. TABLE OF CONTENTS 1. The importance of your Will . 2 2. Passing away without a Will (intestacy) . 2 What happens to the estate if you do not have a Will or the Will is considered invalid? . 2 Administration of the estate . 2 Rules of distribution of the estate . 3 3. Planning your Will . 5 Purpose of having a Will . 5 Types of Wills . 5 Effect of a change in marital status . 5 4. Issues to consider when planning your Will . 6 Identification and revocation clause . 6 Appointment of an executor . 6 Payment of debts, taxes and fees . 7 Specific bequests . 7 Legacies . 7 Residual estate . 8 Trusts . 8 Gifts to minors . 8 Power clauses . 9 Life interest . 9 Encroachment clause . 10 Family disaster clause . 10 Survival clause . 10 Business interests . 10 Guardians . 10 Family law considerations . 10 Burial instructions or organ donations . 10 Testimonium and attestation clauses . 10 5. Testamentary trusts . 11 Reasons for creating testamentary trusts . 11 Children’s and grandchildren’s trusts . 11 Spousal trusts . 11 Cottage trusts . 12 6. Preparing your Will . 13 Use of a preprinted form or computer program to prepare a Will . 13 7. Reviewing your Will . 13 8. International and multiple Wills . 14 9. Probating a Will . 14 10. Challenging a Will . 16 11. Conclusion . ..

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Spring 2014 Melanie Leslie – Trusts and Estates – Attack Outline 1
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