I already have a will in place.
If your will is out of date, it may be as bad as not having one at all.  You must ensure that it continues to reflect your wishes and any changes in your personal and financial situation.  Careful consideration must be given to choosing your executors, distributing assets to beneficiaries, and incorporating any special requirements such as legal trusts or sentimental belongings and last wishes.  A properly constructed Will can significantly reduce the tax paid by your estate, as well as the time and energy required in the settlement process----all of which will be greatly appreciated by your beneficiaries and executor.

In addition to ensuring that you have an up-to-date will in place, a comprehensive estate plan will require that you establish an enduring Power of Attorney.  This legal document designates an individual (usually a close friend or family member) to act on your behalf in financial and legal matters if and when you lack the mental or physical capacity to do so yourself.  A Personal Directive should also be prepared to provide your agent with guidance pertaining to your medical care, living conditions, and personal matters in such circumstances.

Who will benefit from my estate?
If sufficient attention is not paid to your estate planning, one of the largest beneficiaries can be the Canada Revenue Agency (CRA).  You have worked hard to be able to provide an estate to your family and charitable interests and, if your will and investment portfolio are not properly constructed, your beneficiaries may not receive what you had intended.  Effective tax and estate planning will help to ensure that your assets are distributed to your intended beneficiaries as efficiently as possible.

Who will administer my estate?
Your assigned executor will be responsible for carrying out your last wishes, as indicated in your will.  This can potentially be a job with ongoing responsibilities, at times requiring a significant amount of time and energy.  Due to the breadth and importance of this role in your estate planning, choosing an executor should not be taken lightly.  Your selection should take into account the complexity of your estate, as well as the competence, willingness, and even geographic lcoation of your executor.  If you don't think you have anyone who fits the bill, anticipate a potential family conflict, or think your executor may need access to some professional assistance, JV can help to find a suitable corporate executor.

What is an estate freeze?
Estate freezing is the process of fixing the value of your estate at its present value so that future growth will accrue to the benefit of others, such as your children (or a trust) and not be taxed on your death.  This strategy is most often employed when you own a business that will stay in your family after your death, and that you expect will increase in value in future years.  The mechanics of an estate freeze are complex and require professional assistance, but the freeze can provide significant tax savings for your future estate.