An estate plan sets out how you want your assets distributed after your death, so that your beneficiaries receive the greatest benefit possible. It also helps ensure that your wishes for your estate are carried out.

What would happen if you died without a Will?

In Canada, your estate would be distributed according to the laws of the province you live in. The legislation applies a set formula to divide the estate among your spouse, children and relatives, and the results could be very different from what you really want.

Even if you do have a Will, does it accurately reflect your existing assets, take advantage of current tax planning opportunities, and address the needs of your beneficiaries?

If you have any concerns about ensuring that your wishes will be carried out, TD Private Client Group Estates and Trusts Specialists can help.

Our advice and planning services can enable you to:

• protect the financial interests of future generations
• minimize taxes, administrative expenses, and delays
• plan a smooth and amicable settlement of your affairs
• ensure that the long-term management of your estate will help achieve your goals for the future.

Helping families successfully deal with these issues is one of our most important roles. We've been doing it for generations and our experience has given us unique insights into both the practical and emotional factors that shape the decisions you and your family face.

We begin with a complete discussion of your estate goals. Then, our experienced team of Estates and Trusts Specialists works with you to help develop a comprehensive plan that reflects your personal situation and goals, using our in-depth knowledge of the issues you face with taxation, investments, real estate, and private businesses to give you control of your financial affairs.

When it comes time, our Estates and Trusts Specialists are highly skilled in estate management and administration. They help ensure that your wishes are carried out and serve your beneficiaries with understanding and empathy.

Generations have come to us for this combination of trusted advice and professional service.

Your Estate Planning Considerations

Here are some of the key issues a TD Private Client Group Estates and Trusts Specialist can help you review and deal with:

• does your Will and estate plan effectively provide for an orderly disposition of your estate plan to all your intended beneficiaries?
• can gifts made during our lifetime minimize probate fees?
• have you confirmed your intentions regarding jointly owned property such as real estate, bank accounts, and investments so that clear ownership rights are established?
• will establishing a trust for your spouse, children, or a charity help you realize tax advantages and preserve assets such as a business, cottage or family home?
• are your life insurance benefits payable directly to your beneficiaries or to your estate to pay off liabilities or to provide income?
• do you have a plan to reduce or defer taxes that become payable at your death?
• have you appointed a Power of Attorney?

Preparing your Will

Simply put, your Will is the articulation of your estate plan and the only legally recognized document that allows you to choose how your estate is to be distributed. It directs your estate's assets to your beneficiaries or to trusts for their benefit, and names and empowers an Executor to deal with your estate assets.

It seems straightforward enough, but we recognize that this vital document carries a far deeper significance. It is also a reflection of your life's work and the relationships you have forged. It is cause to look back and to think ahead. Ultimately, it is a source of peace of mind for you and comfort and security for your beneficiaries.

We will work closely with you to prepare an estate plan that details everything to be covered in your Will. We also advise you to keep your Will up-to-date, reflecting your most current assets and wishes, and changes in provincial legislation.

For trusted advice...

TD Private Client Group Estates and Trusts Specialists would be happy to answer any questions you may have. If you would like to learn more about our services or arrange a meeting with one of our Specialists, please contact the Estates and Trusts branch nearest you by consulting our Estates and Trusts Branch Directory.