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.
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Zielgruppe
Für höhere Schule und Studium
Für Beruf und Forschung
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Maße
Höhe: 278 mm
Breite: 154 mm
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ISBN-13
978-0-471-64428-6 (9780471644286)
Copyright in bibliographic data is held by Nielsen Book Services Limited or its licensors: all rights reserved.
Schweitzer Klassifikation
Sandra Foster, RFP, FCSI, is one of Canada's leading experts on personal finance, retirement, estate planning, and wealth management. Her common--sense approach makes her a popular, sought--after speaker. She is also a consultant on topics affecting the financial services industry and the Canadian consumer. Sandra's comments have appeared in The Globe and Mail, The Financial Post, Maclean's, and more. She is a frequent guest on TV and radio, including The Money Show, The National, and Investment Television.
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 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. Someone Else. U.S. Estate Taxes. Estimating Your U.S. Tax Bill. 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 Equilization 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. 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. 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 Personal Care/Proxy. 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 Couples. Close to Retired or Retired. Elderly. The Four D's. Talking With Your Family. Now Do I! Chapter 20: Getting Organized and Keeping Records. Simplify, Simplify, Simplify. Personal Inventory. Description of Relatives. Documents for Your Estate Plan. Professional Advisors. Assets. Liabilities and Debts. Considerations When Writing Your Will. Considerations When Reviewing Your Will. Assets and Liabilities at Death (1). Assets and Liabilities at Death (2). List of Executor or Estate Trustee Duties. Glossary. Index. Seminars. Order Form.
