Legal instructions
Your will addresses estate administration and distribution after death. Powers of attorney address decisions during life. Have a lawyer prepare or review the documents and any trusts needed for your circumstances.
Estate & Legacy Planning
Make your wishes easier for your family to carry out.
Coordinate beneficiaries, insurance, financial records and business interests with your legal estate plan. We help organize the financial decisions alongside your lawyer and accountant.
Three parts to coordinate
Put the documents, people and money in agreement.
Ownership and beneficiaries
Review account and policy designations alongside the will, joint ownership and family obligations. A name on a form can affect who receives an asset and whether the wider plan works as intended.
Cash when it is needed
Estimate debts, taxes, expenses and support needs against accessible funds. Property or a business may hold substantial value but take time to sell. Life insurance may help fund a documented shortfall.
Make the plan usable
Leave clear records and people who know their roles.
Ask your intended estate trustee before naming them. Keep an updated asset and debt inventory, professional contacts and instructions for locating original documents in a secure place.
Read Ontario’s estate planning guidanceFamily circumstances may need specific arrangements
Young children, blended families and dependants with disabilities may need tailored trust, support and beneficiary arrangements. Review how an inheritance could affect benefits. Foreign assets or beneficiaries can require advice in more than one jurisdiction.
Business ownership needs a transition plan
Coordinate succession authority, ownership agreements, valuation and buyout funding. Decide how your family would receive value and how the company could continue if you died or became unable to work.
Explore business continuity and successionGifts and inheritance need more than a percentage
Consider differences in asset liquidity, tax consequences and beneficiary needs before deciding what is fair. Charitable intentions should fit family commitments and be coordinated with your lawyer, accountant and the receiving organization.
Questions before you decide
Look closely at the details.
What happens if I die without a will in Ontario?
Ontario’s intestacy rules determine who is entitled to inherit and who may apply to administer the estate. The result may not match your personal intentions, particularly in blended-family, common-law or other complex situations.
Does every estate go through probate?
No. Whether probate is required depends largely on the nature, ownership and location of the assets and the requirements of institutions holding those assets. A lawyer should assess the specific estate.
Should I name my children directly on my life insurance?
The answer depends on their ages, needs and your intentions. Directly naming a minor can create administrative and legal complications. A lawyer can help establish an appropriate trustee or trust arrangement.
What happens to an RRSP or RRIF at death?
The tax treatment depends on the beneficiary, account structure and applicable rollover provisions. Special treatment may be available when qualifying amounts pass to a spouse, common-law partner or certain financially dependent beneficiaries. Tax advice is required.
Review with Centerpointe
Bring your intentions and the arrangements already in place.
We’ll help identify financial gaps, review insurance and beneficiary information, and prepare questions for your legal and tax professionals. Revisit the plan after changes in family, health, business ownership, residence or wealth.
Estate & Legacy Planning Areas We Serve
Estate & Legacy Planning guidance in Ottawa and neighbouring Eastern Ontario communities.
The information on this page is general and educational in nature. It is not legal, tax, accounting, estate-administration or investment advice.
Centerpointe Financials does not prepare wills, powers of attorney, trusts or other legal documents and does not provide legal opinions. Legal documents and estate strategies should be prepared or reviewed by a qualified lawyer. Tax implications should be reviewed with a qualified tax professional or accountant.
Beneficiary, probate, estate, insurance and registered-account outcomes depend on the applicable legislation, jurisdiction, ownership structure, contract terms, family circumstances and validity of the relevant documents.
Life insurance is subject to eligibility, underwriting, exclusions, limitations, premiums and policy terms. Products and services are available only through appropriately licensed or registered individuals and entities and may vary by province, provider, jurisdiction and client eligibility.