ESTATE PLANNING
Joe Fingerote of MLT Aikins. PHOTO BY IAN MCCAUSLAND
It is important to note that other factors such as guardianship for young children, trusts for disabled family members, pet care and other wishes such as charitable giving may be important to you. A valid will is your assurance that your wishes will be followed to the fullest extent. Should there be no will, estate administration and asset distribution can become challenging. “There’s nothing as messy as an estate where a child feels they are not being treated fairly. That’s why discussions about assets like your home, cottage, business and investments need to be had. Family dynamics can be complicated, especially when a loved one passes. Estate litigation costs a lot more than estate planning. That's why everything should be settled beforehand." At the end of the day, a clear and concise will is the answer to ensuring that assets are distributed not only according to your wishes but also fairly and amicably. “Making the effort to do will and estate planning with the help of a qualified estate planning lawyer provides peace of mind for yourself and your family,” Katz notes. “With everything done, a family can just take the time to grieve and won’t have to deal with the confusion of administering to the estate. It makes a mess a little less messy. As my colleague Joe Fingerote often says, ‘where there’s a will, there’s a way.’” Amen to that.
“Estate litigation costs a lot more than estate planning. That's why everything should be settled beforehand.”
— Desiree Katz
18
Manitoba
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