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Tim Cestnick offers some advice when preparing or revising your last will and testament.
Tim Cestnick offers some advice when preparing or revising your last will and testament.
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TAX MATTERS

Tips and traps when preparing or revising your will

Tim Cestnick is president of WaterStreet Family Offices, and author of several tax and personal finance books. tcestnick@waterstreet.ca

My parents were recently revising their wills. I told them that I’d like an inheritance similar to that left by Onni Nurmi, a Finnish businessman. Mr. Nurmi wasn’t particularly wealthy but left 760 shares (then worth about $16,000) of Nokia Corp. to his local village in 1962 to provide a little income to the residents of a nursing home there. By 1999 the shares had a total value of about $48-million.