With the year-end fast approaching, the story about Johnny Depp (and other celebrities with Estate planning woes), act as a cautionary tale for the average Canadian.

Actor Johnny Depp, best-known for his roles in the Pirates of the Caribbean movies, made a reported $650 million USD and finds himself broke according to news reports last July.

Since then, a couple of celebrities have died, including Aretha Franklin, with subsequent reports of no Wills in place with clear instructions on how...

Graham*, like millions of other Canadians, has and uses credit cards. He often carries a balance from month to month and is concerned about making the monthly payments if he becomes disabled or gets seriously ill.

Graham doesn’t want to stick his family with the balance if he dies before paying it off.

The credit card company offered him Credit Balance Insurance (CBI) that would take care of these concerns. After looking over the offer, he wondered if it was such a good deal. Credit Balance Insurance is just that - insurance. And insurance requires a premium. According to the Financial Consumer Agency of Canada, the average monthly...

Most Canadians want to pass their life savings on to their heirs. The assets remaining once retirement needs are met will be distributed more effectively if there is a properly prepared will detailing the deceased’s wishes. Many people mistakenly believe that this issue is far in the future.

Preparation of a valid will and its related estate planning considerations should be the cornerstone of a proper estate plan. Whenever there is a change in circumstances, the will should be reviewed and updated as needed.

In spite of good intentions, far too many people die without having a valid will. The will is a legal document that details the process...