Over the Thanksgiving weekend, CBC News published a story about the currently popular talk that families ought to have about their Estate. (I suppose the Thanksgiving weekend is one of the main times of the year when families gather, and such a discussion probably fits better at Thanksgiving than at Christmas.)
Quoting a recent TD Bank survey, the writer said that more than 40% of people over age 65 who were surveyed were unprepared in their Estate planning.
This figure suggests, in my view, that the numbers are actually down from previous surveys over the past few years, which is encouraging.
If 60% of people over 65 have indeed made Estate plans, the message is getting out.
The writer went on to say that no family is perfect, and most can relate better to the Simpsons than to the Brady Bunch. I would suggest that most families are actually somewhere in between these two iconic, but unrealistic, TV families.
But that needn’t stop families from talking!
Canadians need to understand the importance of making an Estate plan. It seems more do. It is not limited to people with piles of assets, but rather to people (especially with children) who want or need some control over where their assets will be distributed.
This ad ran in the Richmond Review on October 17, 2014.