How to Keep Your Family Safe This Summer

Hot summer days bring back memories of the sun and the family swimming at the beach.

And when your family packs up for a summer trip, their safety is always your concern.

You can protect your family with this quick estate planning review in a matter of minutes.

I call it 3-D Estate Planning Review. It goes like this:

Before you fly away or finish packing the car, take a moment to answer these 3 questions.

  1. If one of us does not come back, what happens to our family?
  2. Who will be in charge?
  3. Where will they find important papers?

As a parent, it’s your job to protect your minor children.

You need a will to name guardians for them and provide for their needs.

Sure, you have done that but before you leave for summer vacation, run through this 3-D Estate Planning Review.

The First D is for “Deeds to Property

  • Are your ownership deeds in order showing the proper owners?
  • Who will inherit your home, vacation or business properties?
  • Can anyone find the deeds, mortgage and insurance papers?

The Second D is for “Documents”

  • Where are your original signed wills and powers of attorney?
  • Does your executor/attorney know where to find them?
  • Do executors/attorneys know a good estate lawyer in an emergency?
  • Should you revise these documents before your holiday?

The Third D is for “Designations”

  • Do you have designated beneficiaries on your pension, life insurance, RSPs, RIFs, and TFSAs?
  • Have you considered all tax rollovers to spouses and charities?
  • Do you have enough life insurance designated to cover your family?

What if you are single, or you and your spouse do not return from vacation?

Use the same 3-D approach. Whatever you do, get professional advice.

You can often get reassurance that everything is in order by calling the lawyer who prepared your estate plan and will.

What’s that you say?  You created your will online without a lawyer?

Uh-oh. You have no one to turn to for advice and reassurance.

It’s not too late to get things done.

Contact me for an appointment or call 416.769.9800.

Tell me when you have to leave for holidays. I can help put an estate plan in place.

You can have wills and powers of attorney prepared by a Certified Specialist in Estates and Trusts law.

Stop losing sleep. Contact my office today for an appointment, and see my schedule of services and fees.