Estate Planning: Safeguarding What Matters Most

It’s not something we love to talk about. In fact, most people avoid it for as long as they can.

But here’s the thing, estate planning isn’t just about legal documents or dividing up assets. It’s about making sure the people you care about are looked after, your wishes are respected, and your legacy reflects what mattered most to you. Think of it as one of the greatest gifts you can give your family: clarity, direction, and peace of mind.

More Than Just a Will

A lot of people think, “I’ve got a will, so I’m covered.” But a complete estate plan goes far beyond that.

It’s about deciding:

• Who steps in for you if you can’t make decisions for yourself, your Power of Attorney and your health care decision maker.
• Who benefits from your hard work through clear beneficiary designations on accounts like RRSPs, TFSAs, and pensions?
• How your assets are managed, possibly with trusts that safeguard inheritances, care for loved ones with special needs, or ensure your wishes are followed exactly

These steps aren’t just for people with “big” estates. They’re for anyone who wants their intentions honoured.

In Canada, more than half of us don’t have a will. And only about 40% have a Power of Attorney in place. That means, for many families, important decisions are left to provincial laws, which may not match what you’d choose.

Starting now means:

• Your voice is heard even when you can’t speak for yourself.
• Your family avoids the stress of uncertainty.
• You get to enjoy the peace of mind knowing everything is in order.

How to Start

I always tell people it doesn’t have to be complicated. Here’s a simple approach:

• Take inventory. List your assets, debts, and anything else important, including online accounts and passwords.
• Choose your people. Pick your executor, Power of Attorney, and health care decision maker.
• Update beneficiaries. Make sure your registered accounts and insurance policies reflect your wishes.
• Write your will. Whether online or with a lawyer, get it down on paper.
• Consider trusts. If you want more control over how your assets are used.
• Review regularly. Life changes, so should your plan.

Trusts: Not Just for the Wealthy

A trust is simply a tool that can make sure your assets are used in the way you intend.

• A spousal trust can provide for your partner while Safeguarding the eventual inheritance for other beneficiaries.
• A family trust can direct funds toward education, care for someone with a disability, or safeguard assets from creditors or relationship breakdowns
• Think of trusts as a way to extend your influence and care beyond your lifetime

The Tax & Probate Piece

While Canada doesn’t have an “estate tax,” there are still taxes on certain assets and probate fees when your will goes through court. The good news? With some planning, you can reduce or even avoid many of these costs.

That could mean:

• Gifting assets during your lifetime.
• Holding accounts jointly (with the right structure).
• Naming direct beneficiaries on registered accounts and insurance policies.
• Using trusts for specific assets.

The less your estate loses to taxes and fees, the more goes to the people and causes you care about.

Your Legacy, Your Way

Estate planning isn’t about death; it’s about living with intention.

It’s about making sure the wealth you’ve built creates the kind of impact you want, whether that’s Safeguarding your family, supporting a cause, or leaving behind a message you believe in.

The best time to start is today.

And the best part? Once it’s done, you can get back to living with the peace of mind that you’ve taken care of what matters most. If you’d like to start that conversation, whether it’s your first step or a review of what you already have, we are happy to guide you through it. Get started today

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^{Grant White is a Portfolio Manager/Investment Advisor at Endeavour Wealth Management with iA Private Wealth Inc, an award-winning office as recognized by the Carson Group. Together with his partners, he provides comprehensive wealth management planning for business owners, professionals and individual families. This information has been prepared by Grant White who is a Portfolio Manager for iA Private Wealth Inc. and does not necessarily reflect the opinion of iA Private Wealth. The information contained in this newsletter comes from sources we believe reliable, but we cannot guarantee its accuracy or reliability. The opinions expressed are based on an analysis and interpretation dating from the date of publication and are subject to change without notice. Furthermore ,they do not constitute an offer or solicitation to buy or sell any of the securities mentioned. The information contained here in may not apply to all types of investors. The Portfolio Manager can open accounts only in the provinces in which they are registered.}

^{iA Private Wealth Inc. is a member of the Canadian Investor Protection Fund and the Canadian Investment Regulatory Organization. iA Private Wealth is a trade mark and business name under which iA Private Wealth Inc. operates.}