If you have a complicated estate, there are other ways to reduce the costs of passing on money and property. These include:
- Buying permanent life insurance
- Jointly owning property
- Setting up a trust fund.
Learn more now: Three ways to reduce your estate costs
Leaving behind a well-planned estate: Rodney and Rose's story
Newly retired, these two seniors needed to plan their estate to make it as easy as possible for their adult children to settle their affairs, while passing on as much wealth as possible to all their beneficiaries. Read Rodney and Rose's story .
Remember, unless you plan properly, the government will be one of the major beneficiaries of your estate.
Content in this section is provided in partnership with the Investor Education Fund, a non-profit organization promoting financial literacy to Canadians. To find out more go to GetSmarterAboutMoney.ca.