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Estate and Will Planning
Our advisors will guide you through the process of estate planning to help ensure your wishes are carried out.
Estate Planning is outlining instructions for distributing your assets in case of death or incapacitation. Our advisors will guide you on what you can do and the documents you need to help ensure your wishes are fulfilled.
Key elements of an estate plan
A comprehensive estate plan can include various documents, products, and solutions to help ensure your wishes are carried out as intended.
How does the estate planning process work?
Creating an estate plan is essential to ensuring your assets are passed on as you intended. Here's how our advisors can help.
Tim – Making sure Patty's legacy lives on
Creating a Legacy
When Tim and Patty were faced with a life-altering event, their TD Wealth advisor helped them through the deeply personal aspects of legacy planning. Hear, in Tim's words, how their TD Wealth advisor took the time to understand their vision and helped establish a legacy in Patty's honour that will inspire students for years to come.
Video length: 1 minute
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Your questions answered
An estate plan can help to safeguard your property and ensure ownership gets passed to the people or organizations you care about. Will and estate planning can also help to reduce the burden placed on loved ones, especially during a difficult time.
While there are no estate taxes in Canada, there is often a sizeable tax liability when someone passes away that many do not adequately plan or account for. To ensure your beneficiaries receive the full value of your intended gifts and inheritances, put the proper plans in place to defer or reduce any taxes owing where possible, or consider additional strategies.
A will is a legal document detailing who gets your assets, custody of minor children and who you've appointed to carry out your wishes.
To have an effective will, you'll need to include the right instructions. You'll want to ensure you name an executor, assign powers of attorney, and decide how often you want to review and update it. We don't recommend creating your will yourself; we suggest you connect with us so our specialists can help guide you.
If you die without a will, provincial law decides what happens to your assets and who gets custody of your minor children – which may not reflect your wishes. Also, your loved ones could spend a long time going through probate, which can sometimes be very costly.
The executor is responsible for managing the affairs and final wishes as stated in a will or trust after one's passing.
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