agreement. It sets out how the cottage will be used, who will pay for it, and who will be responsible for its upkeep. The agreement should also specify how the parties can be bought out in case of disagreement, and what happens upon the death of one of the siblings.
their inheritance and maintain family harmony.
the combined estates. Possible options include spouse or common-law partner trusts, dividing the assets between the spouse and children, and using life insurance to satisfy all beneficiaries. This column. written and published by Investors Group Financial Services Inc. (in Quebec - a Financial Services Firm), and investors Group Securities inc. (in Quebec, a firm in Financial Planning) presents general information only and is not a solicitation to buy or sell any investments. Contact your own advisor for specific advice about your circumstances. For more information on this topic please contact your Investors Group Consultant.
Once your estate plan and will are in place, review them every few years to make sure that if your family’s circumstances have changed, your current situation and wishes are reflected.
Your estate: the next generation
Estate planning for blended families
How you choose to pass your assets on to your children is a personal decision and can be done in a variety of ways. It’s often beneficial to discuss your plans with your kids, so you clearly convey your intentions, develop a philosophy regarding the family legacy, discuss any concerns about protecting
If you have a blended family, where some or all of the children are not the natural or adopted children of both spouses, a standard will may not be appropriate if you want to ensure that children of both spouses receive part of
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