Without a Will, the Government decides how YOUR estate is distributed. Have a say in who gets your assets.
Did you know that women have a higher life expectancy than men? Hence, it’s essential that women ensure their financial assets last longer, are protected, well-managed and that they have a clear legacy plan. Many may also face financial challenges arising from shorter work histories if they’ve placed careers on hold to raise families or attend to elder care. This could impact savings accumulated for retirement. With guidance and a proactive plan they can prepare for the future.
A Will is a critical aspect of planning for your family`s future. While immortality is not an option, the subject of death is a common reason many postpone writing a Will. Others believe they are too young, healthy or have little assets. Yet a valid, up-to-date Will prevents exactly what is feared, and provides peace of mind. It legally protects your family and assets and spells out how your wishes are to be fulfilled. You choose your estate trustee, appoint your children’s guardian, provide for beneficiaries and make a lasting contribution to your community.
Include favourite charities in your Will to ensure that organizations important to you continue their work of patient care, keep art and culture alive for future generations, provide scholarships, protect animals and the environment, or other activities that support your goals. Whether it’s a home, RRSP/RRIF, life insurance policy, pension income, GIC’s or other assets — almost everyone can choose to leave a legacy with a gift of any amount or a residue of their estate.
From May to October, the Canadian Association of Gift Planners GTA Chapter hosts FREE information sessions on Wills, executors, estate planning, and more. Held in 3 different locations, prominent lawyers and financial advisors share important advice on financial and estate planning. We especially encourage women to attend our Oct 3 session Planning for the single, Divorced & Widowed to learn about why it’s important to have a properly constructed estate plan that provides protections for all, especially women who are single, divorced, or widowed.
To learn more, see the Leave A Legacy ad in this supplement.
Chair, Leave A Legacy Committee
Director, Legacy & Leadership Gifts, ROM Governors