October 9, 2024
A Comprehensive Guide to Estate Planning
Estate planning is one of the most important steps you can take to secure your assets and ensure a smooth transition for your loved ones after you’re gone. Unfortunately, many people overlook estate planning, thinking it’s only necessary for the wealthy. However, anyone with assets, property, or dependents can benefit from a solid estate plan.
In this guide, we’ll walk you through the key steps and considerations for effective estate planning.
What is Estate Planning?
Estate planning is the process of arranging the management and distribution of your assets after death or in case of incapacitation. It allows you to make legally binding decisions about who will inherit your assets, who will make medical or financial decisions on your behalf, and how your estate will be managed.
By planning ahead, you can ensure that your loved ones are cared for, your assets are distributed according to your wishes, and that unnecessary taxes or legal fees are minimized.
Whether your estate is large or small, estate planning is an essential step in protecting what matters most.
Fact Check: According to a survey by RBC Wealth Management; "Estimates suggest that as much as $1 trillion could pass from baby boomers to younger generations in Canada over the next decade.6,7 WhetherCanadians have established wills and estate plans will be central to the overall success of these wealth transfers for both those leaving and receiving inheritances".
Why Do I Need an Estate Plan?
Many people ask, "Do I need an estate plan?" The simple answer is yes—if you own assets, have children, or want to ensure your wishes are honored, an estate plan is critical.
An estate plan provides financial security for your beneficiaries, reduces potential conflicts within the family, and helps avoid the lengthy probate process. It can also help minimize the taxes your estate may owe upon your death, ensuring more of your wealth is passed on to your loved ones.
Estate Planning Checklist
To help you get started, here is a basic estate planning checklist to follow:
- Create a Will: Ensure your assets are distributed according to your wishes.
- Appoint an Executor: Choose someone you trust to execute your will and manage your estate.
- Establish Power of Attorney: Designate someone to make financial and healthcare decisions if you are incapacitated.
- Set Up Trusts: Consider setting up trusts to manage your assets, protect beneficiaries, or reduce taxes.
- Review Beneficiaries: Make sure the beneficiaries on life insurance policies, retirement accounts, and other assets are up to date.
- Plan for Taxes: Work with professionals to create strategies for minimizing estate taxes.
- Regularly Update Your Plan: As life circumstances change (e.g., marriage, divorce, new assets), review and update your estate plan to reflect your current situation.
This checklist will help ensure that your estate is protected, and your wishes are followed.
Do I Need a Lawyer for Estate Planning?
When it comes to estate planning, many people wonder whether they need a lawyer. The answer depends on the complexity of your estate.
For simple estates with minimal assets and clear wishes, you may be able to handle the process independently using online tools or templates. However, if you have significant assets, own a business, or have complex family dynamics, it’s highly recommended that you work with a lawyer or a notary public who specializes in estate planning. They can provide professional guidance to ensure your estate plan is legally compliant and meets your needs.
Read Also: What does a Notary Public Do?
Will and Estate Planning: Key Differences and Why Both Are Important
While a will is an important part of planning for the future, it’s not the whole picture. A will mainly handles what happens to your assets after you pass away—who gets what, and under what conditions.
But an estate plan goes beyond that. It includes your will but also covers things like who will make decisions for you if you can’t (through a power of attorney) and how your assets should be managed in different situations (like with trusts). It ensures your wishes are respected not just after you're gone but also if you become unable to make decisions yourself.
While a will is essential, an estate plan ensures complete protection for your assets, family, and medical care decisions.
Power of Attorney: A Power of Attorney (POA) is a legal document that gives someone you trust the authority to make decisions on your behalf if you’re unable to do so. This can include managing your finances, paying bills, or making medical decisions.
Conclusion
Estate planning is essential for anyone who wants to protect their assets and provide peace of mind for their family. Whether you have a large estate or just a few important assets, having a solid plan in place ensures your wishes are honoured and helps your loved ones avoid unnecessary legal stress.
At Brookswood Notary, we understand how important it is to secure your future. Don’t wait—reach out to us today and start your estate planning process. We’re here to help you protect your legacy and ensure everything is taken care of for your loved ones.
Table of Contents
Read Our Other Articles
What Does a Notary Public Do?
A Comprehensive Guide to Estate Planning
Understanding Property Transfer Tax in BC
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Hear From Our Happy Customers
read all reviewsAnn Z.
Absolutely professional, prompt, and pleasant! Am so glad I found this notary public near my home. I’ve used their services a few time and I know I’ll be back for more. They are my number one choice -and recommendation - for notary public.
Angie C.
Absolutely the best. Professional and Experienced. We will going to her for our legal documentation in the near future.
Kyle K.
Amazing service and very friendly staff! They are super accommodating and always find time for me. Even on short notice. As a frequent customer, I always enjoy my time going there!
Troy R.
Fantastic service, extremely knowledgeable and professional! Highly recommended!
Kaden Z.
Great environment! Very friendly and professional. They will help with all your needs
Andrew P.
I found my experience with Maureen and her staff to be excellent. They were attentive and had everything completed for our meeting even though the time period was short. Would recommend them for your Notary needs!!!
Kathryn V.
I have used Maureen’s services many times since 2010 for everything from real estate transactions, wills, to power of attorney and more. Maureen has always taken the time to explain everything thoroughly and to bring to my attention things that I may not have thought of. Her staff have helped me with urgent matters which I am so grateful for. I will definitely be using this Notary’s office as long as they are open.
Victor. K
I have used Mrs Friesen and her office for a multitude of legalities over 15 years now. I continue to use them as I have found them to be so professional, attention to details are second to none, and this entire office has my unequivocal trust.
Justin A.
Interactions with all staff was courteous, their work was prompt, and with no mistakes. Very pleased with our experience.
Chaeleen H.
Invaluable knowledge! Will be back for myself and already recommended to friends and family. Thank you Maureen.
Maureen F.
I’ve found Maureen Friesen’s notary services to be so professional we have used her for so many needs, divorce, a few home purchases and our Will She is always knowledgeable with the regulations and Laws. Also explains everything that we need. Totally recommend her. The office staff is also professional and helpful
Donna C.
Maureen Friesen is incredible. She is very professional, knowledgeable, and personable. Maureen spent much more time with me than the job required to make sure I completely understood my options. If you need the best I recommend Maureen.
David S.
Maureen and her team are thorough and efficient. We felt very comfortable that our interests were taken care of. They make buying and selling real estate easy.
Lesley U.
Maureen helped complete the sale of my mom’s home. She went above and beyond to make sure it was all clear and that it didn’t feel too overwhelming. I highly recommend her office!
Shane. D
Maureen is a very knowledgeable and professional person who looks after your notary needs in an efficient and timely manner. When it comes to sensitive documents, Maureen takes the time to explain everything, making it make sense and offers recommendations to benefit you and your future. The staff are very friendly and eager to help with any questions you may have. I highly recommend Maureen!
Debb R.
Maureen is fast efficient very thorough and most importantly very respectful. My mom started using her 20+ years ago and we keep coming back.
Joy K.
Maureen is kind and personable and fantastic to work with. We have used her services with many complicated transitions. She is informative and though and doesn’t miss a thing! I am so impressed.
Corinne M.
Maureen is very helpful and thorough. She goes out of her way to get done what needs to be done in a very timely fashion. I have been coming to Maureen for over 30 years and never been let down.
Jill O.
Maureen provides a welcoming experience and takes time to make sure you’re well informed and comfortable! That went a long way during the purchase of our first home and would highly recommend!
Sean W.
More than happy to support. They were able to accommodate us very last minute and were such a great help! Highly recommended!
Rob N.
My wife and I have used Maureen’s services on several occasions when selling and purchasing properties and she and her team have been friendly and professional. They have handled all our needs and everything has been completed efficiently.
Ellie K.
Not only very professional and efficient, but very kind after my husband died and I need a lot of help with legal matters. Thoroughly recommended.
Liesa H.
Over the last 5 years, we have purchased and sold three homes as well as done our Will and POA through Maureen Friesen. We are extremely pleased with the attention to detail, quality of service, and professionalism that her office has provided us with through each transaction. We will continue to use her in the future and highly recommend this Notary to others.
Fallen M.
Receptionist was able to book me in right away. Very courteous, helpful and professional. Looking forward to my experience when I arrive for my appointment.
Cam L.
Thanks Maureen and team for all the professional help and kindness you have shown my sister and I in processing the sale of our mother’s home . You have helped my parents and my family for many years with all our will , POA and real estate transaction needs and we appreciate it !
Sarah S.
The ladies in the office are wonderful. They expedited the sale of my house even with all the anomalies and were friendly and efficient. Would recommend to anyone needing a Notary :)
Jedy. P
The office staff are all friendly and helpful people. Working with Maureen sure made my task much easier, plus she made sure all a clients affairs are understandable to client. I would highly recommend her to people who need that service.
Lissa M.
They were extremely awesome, very friendly and knowledgeable. Highly recommended them!!!
Kim C.
We have used Maureen Friesen a couple of times. Latest with the sale of our house. The service is excellent and super helpful and friendly staff. We are happy to recommend them to everyone
Shelley Y.
We've used Maureen Friesen's services many times since 2003. We have always been well taken care.
Ann Z.
Absolutely professional, prompt, and pleasant! Am so glad I found this notary public near my home. I’ve used their services a few time and I know I’ll be back for more. They are my number one choice -and recommendation - for notary public.
Angie C.
Absolutely the best. Professional and Experienced. We will going to her for our legal documentation in the near future.
Kyle K.
Amazing service and very friendly staff! They are super accommodating and always find time for me. Even on short notice. As a frequent customer, I always enjoy my time going there!
Troy R.
Fantastic service, extremely knowledgeable and professional! Highly recommended!
Kaden Z.
Great environment! Very friendly and professional. They will help with all your needs
Andrew P.
I found my experience with Maureen and her staff to be excellent. They were attentive and had everything completed for our meeting even though the time period was short. Would recommend them for your Notary needs!!!
Kathryn V.
I have used Maureen’s services many times since 2010 for everything from real estate transactions, wills, to power of attorney and more. Maureen has always taken the time to explain everything thoroughly and to bring to my attention things that I may not have thought of. Her staff have helped me with urgent matters which I am so grateful for. I will definitely be using this Notary’s office as long as they are open.
Victor. K
I have used Mrs Friesen and her office for a multitude of legalities over 15 years now. I continue to use them as I have found them to be so professional, attention to details are second to none, and this entire office has my unequivocal trust.
Justin A.
Interactions with all staff was courteous, their work was prompt, and with no mistakes. Very pleased with our experience.
Chaeleen H.
Invaluable knowledge! Will be back for myself and already recommended to friends and family. Thank you Maureen.
Maureen F.
I’ve found Maureen Friesen’s notary services to be so professional we have used her for so many needs, divorce, a few home purchases and our Will She is always knowledgeable with the regulations and Laws. Also explains everything that we need. Totally recommend her. The office staff is also professional and helpful
Donna C.
Maureen Friesen is incredible. She is very professional, knowledgeable, and personable. Maureen spent much more time with me than the job required to make sure I completely understood my options. If you need the best I recommend Maureen.
David S.
Maureen and her team are thorough and efficient. We felt very comfortable that our interests were taken care of. They make buying and selling real estate easy.
Lesley U.
Maureen helped complete the sale of my mom’s home. She went above and beyond to make sure it was all clear and that it didn’t feel too overwhelming. I highly recommend her office!
Shane. D
Maureen is a very knowledgeable and professional person who looks after your notary needs in an efficient and timely manner. When it comes to sensitive documents, Maureen takes the time to explain everything, making it make sense and offers recommendations to benefit you and your future. The staff are very friendly and eager to help with any questions you may have. I highly recommend Maureen!
Debb R.
Maureen is fast efficient very thorough and most importantly very respectful. My mom started using her 20+ years ago and we keep coming back.
Joy K.
Maureen is kind and personable and fantastic to work with. We have used her services with many complicated transitions. She is informative and though and doesn’t miss a thing! I am so impressed.
Corinne M.
Maureen is very helpful and thorough. She goes out of her way to get done what needs to be done in a very timely fashion. I have been coming to Maureen for over 30 years and never been let down.
Jill O.
Maureen provides a welcoming experience and takes time to make sure you’re well informed and comfortable! That went a long way during the purchase of our first home and would highly recommend!
Sean W.
More than happy to support. They were able to accommodate us very last minute and were such a great help! Highly recommended!
Rob N.
My wife and I have used Maureen’s services on several occasions when selling and purchasing properties and she and her team have been friendly and professional. They have handled all our needs and everything has been completed efficiently.
Ellie K.
Not only very professional and efficient, but very kind after my husband died and I need a lot of help with legal matters. Thoroughly recommended.
Liesa H.
Over the last 5 years, we have purchased and sold three homes as well as done our Will and POA through Maureen Friesen. We are extremely pleased with the attention to detail, quality of service, and professionalism that her office has provided us with through each transaction. We will continue to use her in the future and highly recommend this Notary to others.
Fallen M.
Receptionist was able to book me in right away. Very courteous, helpful and professional. Looking forward to my experience when I arrive for my appointment.
Cam L.
Thanks Maureen and team for all the professional help and kindness you have shown my sister and I in processing the sale of our mother’s home . You have helped my parents and my family for many years with all our will , POA and real estate transaction needs and we appreciate it !
Sarah S.
The ladies in the office are wonderful. They expedited the sale of my house even with all the anomalies and were friendly and efficient. Would recommend to anyone needing a Notary :)
Jedy. P
The office staff are all friendly and helpful people. Working with Maureen sure made my task much easier, plus she made sure all a clients affairs are understandable to client. I would highly recommend her to people who need that service.
Lissa M.
They were extremely awesome, very friendly and knowledgeable. Highly recommended them!!!
Kim C.
We have used Maureen Friesen a couple of times. Latest with the sale of our house. The service is excellent and super helpful and friendly staff. We are happy to recommend them to everyone
Shelley Y.
We've used Maureen Friesen's services many times since 2003. We have always been well taken care.
Shelley Y.
We've used Maureen Friesen's services many times since 2003. We have always been well taken care.
Kim C.
We have used Maureen Friesen a couple of times. Latest with the sale of our house. The service is excellent and super helpful and friendly staff. We are happy to recommend them to everyone
Lissa M.
They were extremely awesome, very friendly and knowledgeable. Highly recommended them!!!
Jedy. P
The office staff are all friendly and helpful people. Working with Maureen sure made my task much easier, plus she made sure all a clients affairs are understandable to client. I would highly recommend her to people who need that service.
Sarah S.
The ladies in the office are wonderful. They expedited the sale of my house even with all the anomalies and were friendly and efficient. Would recommend to anyone needing a Notary :)
Cam L.
Thanks Maureen and team for all the professional help and kindness you have shown my sister and I in processing the sale of our mother’s home . You have helped my parents and my family for many years with all our will , POA and real estate transaction needs and we appreciate it !
Fallen M.
Receptionist was able to book me in right away. Very courteous, helpful and professional. Looking forward to my experience when I arrive for my appointment.
Liesa H.
Over the last 5 years, we have purchased and sold three homes as well as done our Will and POA through Maureen Friesen. We are extremely pleased with the attention to detail, quality of service, and professionalism that her office has provided us with through each transaction. We will continue to use her in the future and highly recommend this Notary to others.
Ellie K.
Not only very professional and efficient, but very kind after my husband died and I need a lot of help with legal matters. Thoroughly recommended.
Rob N.
My wife and I have used Maureen’s services on several occasions when selling and purchasing properties and she and her team have been friendly and professional. They have handled all our needs and everything has been completed efficiently.
Sean W.
More than happy to support. They were able to accommodate us very last minute and were such a great help! Highly recommended!
Jill O.
Maureen provides a welcoming experience and takes time to make sure you’re well informed and comfortable! That went a long way during the purchase of our first home and would highly recommend!
Corinne M.
Maureen is very helpful and thorough. She goes out of her way to get done what needs to be done in a very timely fashion. I have been coming to Maureen for over 30 years and never been let down.
Joy K.
Maureen is kind and personable and fantastic to work with. We have used her services with many complicated transitions. She is informative and though and doesn’t miss a thing! I am so impressed.
Debb R.
Maureen is fast efficient very thorough and most importantly very respectful. My mom started using her 20+ years ago and we keep coming back.
Shane. D
Maureen is a very knowledgeable and professional person who looks after your notary needs in an efficient and timely manner. When it comes to sensitive documents, Maureen takes the time to explain everything, making it make sense and offers recommendations to benefit you and your future. The staff are very friendly and eager to help with any questions you may have. I highly recommend Maureen!
Lesley U.
Maureen helped complete the sale of my mom’s home. She went above and beyond to make sure it was all clear and that it didn’t feel too overwhelming. I highly recommend her office!
David S.
Maureen and her team are thorough and efficient. We felt very comfortable that our interests were taken care of. They make buying and selling real estate easy.
Donna C.
Maureen Friesen is incredible. She is very professional, knowledgeable, and personable. Maureen spent much more time with me than the job required to make sure I completely understood my options. If you need the best I recommend Maureen.
Maureen F.
I’ve found Maureen Friesen’s notary services to be so professional we have used her for so many needs, divorce, a few home purchases and our Will She is always knowledgeable with the regulations and Laws. Also explains everything that we need. Totally recommend her. The office staff is also professional and helpful
Chaeleen H.
Invaluable knowledge! Will be back for myself and already recommended to friends and family. Thank you Maureen.
Justin A.
Interactions with all staff was courteous, their work was prompt, and with no mistakes. Very pleased with our experience.
Victor. K
I have used Mrs Friesen and her office for a multitude of legalities over 15 years now. I continue to use them as I have found them to be so professional, attention to details are second to none, and this entire office has my unequivocal trust.
Kathryn V.
I have used Maureen’s services many times since 2010 for everything from real estate transactions, wills, to power of attorney and more. Maureen has always taken the time to explain everything thoroughly and to bring to my attention things that I may not have thought of. Her staff have helped me with urgent matters which I am so grateful for. I will definitely be using this Notary’s office as long as they are open.
Andrew P.
I found my experience with Maureen and her staff to be excellent. They were attentive and had everything completed for our meeting even though the time period was short. Would recommend them for your Notary needs!!!
Kaden Z.
Great environment! Very friendly and professional. They will help with all your needs
Troy R.
Fantastic service, extremely knowledgeable and professional! Highly recommended!
Kyle K.
Amazing service and very friendly staff! They are super accommodating and always find time for me. Even on short notice. As a frequent customer, I always enjoy my time going there!
Angie C.
Absolutely the best. Professional and Experienced. We will going to her for our legal documentation in the near future.
Ann Z.
Absolutely professional, prompt, and pleasant! Am so glad I found this notary public near my home. I’ve used their services a few time and I know I’ll be back for more. They are my number one choice -and recommendation - for notary public.
Shelley Y.
We've used Maureen Friesen's services many times since 2003. We have always been well taken care.
Kim C.
We have used Maureen Friesen a couple of times. Latest with the sale of our house. The service is excellent and super helpful and friendly staff. We are happy to recommend them to everyone
Lissa M.
They were extremely awesome, very friendly and knowledgeable. Highly recommended them!!!
Jedy. P
The office staff are all friendly and helpful people. Working with Maureen sure made my task much easier, plus she made sure all a clients affairs are understandable to client. I would highly recommend her to people who need that service.
Sarah S.
The ladies in the office are wonderful. They expedited the sale of my house even with all the anomalies and were friendly and efficient. Would recommend to anyone needing a Notary :)
Cam L.
Thanks Maureen and team for all the professional help and kindness you have shown my sister and I in processing the sale of our mother’s home . You have helped my parents and my family for many years with all our will , POA and real estate transaction needs and we appreciate it !
Fallen M.
Receptionist was able to book me in right away. Very courteous, helpful and professional. Looking forward to my experience when I arrive for my appointment.
Liesa H.
Over the last 5 years, we have purchased and sold three homes as well as done our Will and POA through Maureen Friesen. We are extremely pleased with the attention to detail, quality of service, and professionalism that her office has provided us with through each transaction. We will continue to use her in the future and highly recommend this Notary to others.
Ellie K.
Not only very professional and efficient, but very kind after my husband died and I need a lot of help with legal matters. Thoroughly recommended.
Rob N.
My wife and I have used Maureen’s services on several occasions when selling and purchasing properties and she and her team have been friendly and professional. They have handled all our needs and everything has been completed efficiently.
Sean W.
More than happy to support. They were able to accommodate us very last minute and were such a great help! Highly recommended!
Jill O.
Maureen provides a welcoming experience and takes time to make sure you’re well informed and comfortable! That went a long way during the purchase of our first home and would highly recommend!
Corinne M.
Maureen is very helpful and thorough. She goes out of her way to get done what needs to be done in a very timely fashion. I have been coming to Maureen for over 30 years and never been let down.
Joy K.
Maureen is kind and personable and fantastic to work with. We have used her services with many complicated transitions. She is informative and though and doesn’t miss a thing! I am so impressed.
Debb R.
Maureen is fast efficient very thorough and most importantly very respectful. My mom started using her 20+ years ago and we keep coming back.
Shane. D
Maureen is a very knowledgeable and professional person who looks after your notary needs in an efficient and timely manner. When it comes to sensitive documents, Maureen takes the time to explain everything, making it make sense and offers recommendations to benefit you and your future. The staff are very friendly and eager to help with any questions you may have. I highly recommend Maureen!
Lesley U.
Maureen helped complete the sale of my mom’s home. She went above and beyond to make sure it was all clear and that it didn’t feel too overwhelming. I highly recommend her office!
David S.
Maureen and her team are thorough and efficient. We felt very comfortable that our interests were taken care of. They make buying and selling real estate easy.
Donna C.
Maureen Friesen is incredible. She is very professional, knowledgeable, and personable. Maureen spent much more time with me than the job required to make sure I completely understood my options. If you need the best I recommend Maureen.
Maureen F.
I’ve found Maureen Friesen’s notary services to be so professional we have used her for so many needs, divorce, a few home purchases and our Will She is always knowledgeable with the regulations and Laws. Also explains everything that we need. Totally recommend her. The office staff is also professional and helpful
Chaeleen H.
Invaluable knowledge! Will be back for myself and already recommended to friends and family. Thank you Maureen.
Justin A.
Interactions with all staff was courteous, their work was prompt, and with no mistakes. Very pleased with our experience.
Victor. K
I have used Mrs Friesen and her office for a multitude of legalities over 15 years now. I continue to use them as I have found them to be so professional, attention to details are second to none, and this entire office has my unequivocal trust.
Kathryn V.
I have used Maureen’s services many times since 2010 for everything from real estate transactions, wills, to power of attorney and more. Maureen has always taken the time to explain everything thoroughly and to bring to my attention things that I may not have thought of. Her staff have helped me with urgent matters which I am so grateful for. I will definitely be using this Notary’s office as long as they are open.
Andrew P.
I found my experience with Maureen and her staff to be excellent. They were attentive and had everything completed for our meeting even though the time period was short. Would recommend them for your Notary needs!!!
Kaden Z.
Great environment! Very friendly and professional. They will help with all your needs
Troy R.
Fantastic service, extremely knowledgeable and professional! Highly recommended!
Kyle K.
Amazing service and very friendly staff! They are super accommodating and always find time for me. Even on short notice. As a frequent customer, I always enjoy my time going there!
Angie C.
Absolutely the best. Professional and Experienced. We will going to her for our legal documentation in the near future.
Ann Z.
Absolutely professional, prompt, and pleasant! Am so glad I found this notary public near my home. I’ve used their services a few time and I know I’ll be back for more. They are my number one choice -and recommendation - for notary public.
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