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“H t Ht t mt "norm u - Wednesday November m um . IS The tough questions to ask about estate planning Youa e “oiled hard to tered assets “1th a right ol where assets are translerted ness tn the next generation arid tlteir terms (all he ‘b act utnolate assets and suHIthrsltttL ttteantng tltat immediately to tlte trust attd lestamentary trusts allow changed while you In e by you kilo“ that the best nay \] \}\| \ ‘ the asset may pass dirt-t tly managed by the trustee you to keep control ot your simply revising your Will to preserve them and pass . _ , to the slerHHglnHlt‘t Ihey can he used to ttttn assets during your ltlettme lhey are usetul tor has them on (t) your heirs ts ,\l()\l\ You could distribute mil/e probate taxes or assist lhese trusts tome titto tug assets managed on thtouglt an 0mm. plan assets that you no Iottger Wlllt the transition of a bttst etlett only after your death Continued (mm 17 lhat s why you haw tare ' requtre during your ltlettme hilly put ttt place a legal tstll. t ,, eltlter dtrectly or through L hosett an eset utor and atrust â€" to reduce theyalue guardian tor ttttnot thtldren f of your estate. _ or other dependantst estah ‘ You t ottld name a benefiâ€" , ltshed powersot attorney (or y ler)‘ on your registered property arid personal care, 1 ; plans or lite tnsurancer so attd set aside adequate ‘ that the beneficiary will funds to support your l receive those assets directly v dependants, pay oll‘ your at tlte time or" your death debt. and for to pay the taxes l But tn the case of registered and other costs of settling L, , , s l assets‘ he sure you under- ' ll ‘ your estate mt, use In" strategies such as stand how the taxes on that 1' ”1059 are ”W him“ 1" ii” beneficiary designations “5“ could “HP?!“ YUUT - estate plan. httt you may and joint ownership can estate, need to do more lead to problems if sortie The” comments are ’ if, Here are some estate “Mm-Ian“ receive more of based on the probate I ’ 7 . “f‘i plannirtg strategies you the estatethan others. process outside of Quebec ‘ '_ y it»? should consider: You cart reduce probate since the probate process is ‘ ‘ ' _ ‘V' i'f' fees through the following different "1 (hm province. \ , > Probateor not? strategies. although you . Probate is the process by should speak [0 your estates Set up aTrust? ; which your thl is validated lawyer before proceeding A trust'specifies a trustee Q, at; by a court with fees paid to with any of these suggesâ€" who will manage the assets ' Q '1 your provincial government tions. some of these trans- during your lifetime and/or , s _- calculated on the fair market fers “mm trigger income after you die. ' ' " ‘ 1 I value of the assets in your taxes sooner thart anticipat» There are two types of ’ . t “ estate, ed, and may not be appro' trusts most commonly used ., _ y g / Yr ' ' ’ Although reducing pro- priate in every case. as part ofan estate plan. "“ I A! 975“ bate fees may be desirable. You could add a joint Inter vivos trusts are cre- avoiding probate through owner to your "on.regj5. aled during your lifetime li‘) l .ttltct' l);t\ itl Hatter l)ri\ct “alt-rho ltttltct'\ lll.lf_{t‘.t)l'f" ‘r: «fie-£39“ a: v” ' " " Wis ':': ‘ ' l 4 ' , a: "was; it“ his ~ "f: s -‘ , zfsv " » â€"â€" ‘ , ,- ‘ f I. W6] 6 DU.” SCH ITO “it -- f C] Wl IOle l IGW l IOlllel ,: l " s _ w , i ‘ ‘ a I: at ~ ‘ v! a, i? _. 35" l l ‘ V