The Kickass Entrepreneur
  • About
  • Blog
    • All Blogs
    • Create Wealth (Investing)
    • Entrepreneur Interviews
    • Featured Top Posts
    • Growing Profits
    • Growing Revenues
    • Marketing
    • Positive State of Mind
    • Real Estate Investing
    • Retirement
    • Sales
    • Selling your Business
  • Book
  • Courses
  • Podcast
  • Resources
  • Contact
The Kickass Entrepreneur
Subscribe
The Kickass Entrepreneur
  • About
  • Blog
    • All Blogs
    • Create Wealth (Investing)
    • Entrepreneur Interviews
    • Featured Top Posts
    • Growing Profits
    • Growing Revenues
    • Marketing
    • Positive State of Mind
    • Real Estate Investing
    • Retirement
    • Sales
    • Selling your Business
  • Book
  • Courses
  • Podcast
  • Resources
  • Contact
  • All Blogs

5 Ways to Protect Your Family After You’re Gone in Canada

  • August 12, 2022
  • 854 views
  • 3 minute read
  • Meg Rivera
family
Share
Tweet
Share

No one likes to think about what would happen if they were in an accident or became seriously ill, but it’s essential to have a plan in place in case something happens. You can never be too prepared for your family’s safety, and Canada has some particular laws you should know about as you arrange your finances. 

Creating a plan is the best way to ensure that your loved ones are taken care of in an emergency. Here are five ways to develop a plan to keep your family safe.

1. Estate Planning: What Is It, and Why Would You Want It?

According to Wills and Estates Lawyer in Toronto, estate planning is essential for planning what will happen to your assets and property after you die.  

It includes the following things:  

  • Your home
  • Savings
  • Investments

With an estate plan ready, your family knows what to do with your belongings and how to access your money.

Creating an estate plan can seem daunting, but it doesn’t have to be. Many resources are available to help you get started, and experienced attorneys can guide you through the process. 

2. Creating Your Will: What to Include

A Will ensures that your desires get carried out in case of your demise.

A will doesn’t have to be difficult or expensive to make. In Canada, it’s pretty simple to make a valid will without the help of a lawyer. All you need to do is ensure that your will meets your province’s legal requirements.

3. Trusts: How They Work and How They Can Benefit Your Family

In a trust, one person, known as a trustee, holds the property on behalf of the beneficiary. The trustee can be an individual, a corporation, or even a government body. The beneficiary can be an individual, a group of people, or a charity.  

In Canada, trusts are regulated by the Trustee Act and the common law. There are many different types of trusts, but they all have one thing in common: they can be used to protect your assets and your family.

4. Power of Attorney: Definition and Reasons for Using It

An official document appoints another person to act in your place and make decisions. It can be helpful if you become incapacitated and cannot make decisions for yourself. For example, if you’re planning to be away from home for a while, you can utilize it to handle your affairs.

The laws governing power of attorney vary from province to province, so getting advice from a lawyer or public notary is essential before signing away power of attorney.

5. Advance Directives: What They Are and Why You Need Them

Advance directives are legal documents that outline your wishes for medical treatment if you cannot communicate them yourself. 

They can include:  

  • The person you want to make decisions for you
  • The kind of treatment you do or don’t want to receive
  • Your preferences for end-of-life care

Speak with your family about advanced directives and what they can expect. When you’re ready to make it all official, ensure you follow your province’s guidelines to make it a legal document. 

Putting It All Together: Creating a Plan That Works for You

Putting together a plan to keep your family safe in Canada doesn’t have to be complicated. Following the simple steps outlined in this blog post, you can create a plan that will work for you and your family.  

Estate planning, creating a will, and setting up trusts are all pieces of the puzzle. Power of attorney and advance directives are also important considerations. By creating a thorough plan, you may feel secure knowing that your family will be cared for in the case of an emergency.

Thank you for your interest in THE KICKASS ENTREPRENEUR'S GUIDE TO INVESTING. Three Simple Steps to Build Massive Wealth with your Business's Profits. Please check your email to confirm the book download. Form: 400529

There was an error submitting your subscription. Please try again.

Related Posts:

  • Canada Net Worth Brackets, Percentiles, Top One Percent in Wealth, and…
  • 6 Ways to Protect Yourself from X-Ray Radiation
  • 4 Ways to Protect Your Employees in The Workplace
  • What Is a Family Office and Why Should You Set Up One in Singapore?
  • How to Protect Your Wealth with a Gold IRA
  • 3 Reasons to Invest in Multi-family Real Estate
Share
Tweet
Share
Meg Rivera

Previous Article
white board writing
  • Growing Revenues

Email Marketing Ideas For Small Business

  • August 11, 2022
  • Meg Rivera
View Post
Next Article
Smiling coach talking about work and life balance with corporate employee
  • All Blogs

What’s work-life balance, and how can you achieve it?

  • August 12, 2022
  • Meg Rivera
View Post
You May Also Like
man touching a woman's shoulder
View Post
  • All Blogs

Addressing Emotional Distress from Sexual Harassment in San Diego: A Legal Perspective

  • September 20, 2023
  • Meg Rivera
writing
View Post
  • All Blogs

8 Essential Steps for Impeccable Essay Proofreading and Editing

  • September 20, 2023
  • Meg Rivera
Net worth by age percentile calculator for Canada
View Post
  • All Blogs
  • Financial and Investment Calculators and Economic Data

Net Worth By Age Percentile Calculator for Canada with 2023 Data

  • September 9, 2023
  • Jeff Wiener
waste disposal
View Post
  • All Blogs

Dumpster Diving: A Guide to Efficient Waste Disposal

  • September 6, 2023
  • Meg Rivera
form 1040-x
View Post
  • All Blogs
  • Business

Mastering Form 1040-X: Your Guide to Amended Returns

  • September 3, 2023
  • Jeff Wiener
ohio tax rate
View Post
  • All Blogs
  • Business

Navigating Ohio’s Tax Rates: A Comprehensive Overview

  • September 3, 2023
  • Jeff Wiener
Safe workplace yellow out of service tag placing on RCD residual
View Post
  • All Blogs

Managing Workplace Accidents in San Diego

  • August 29, 2023
  • Meg Rivera
australia
View Post
  • All Blogs

Unleash Fun: Get 30 Free Spins in Australia’s Online gaming Scene

  • August 21, 2023
  • Meg Rivera

Join 6,472 Entrepreneurs That Get My Business Building and Wealth Creation Posts by Email

I can teach you how to build a successful, profitable business, and turn that into millions in personal wealth.

Thank you for your interest in THE KICKASS ENTREPRENEUR'S GUIDE TO INVESTING. Three Simple Steps to Build Massive Wealth with your Business's Profits. Please check your email to confirm the book download. Form: 400529

There was an error submitting your subscription. Please try again.

We won’t send you spam. Unsubscribe at any time.

Recent Posts
  • Real estate broker agent presenting and consult to customer to d 1
    The Return on Investment (ROI) of Mortgage CRM Investments
    • September 20, 2023
  • man touching a woman's shoulder 2
    Addressing Emotional Distress from Sexual Harassment in San Diego: A Legal Perspective
    • September 20, 2023
  • Teach College Students About Money 3
    Crafting an Impressive College Application Essay: Your Path to Admissions Success
    • September 20, 2023
  • writing 4
    8 Essential Steps for Impeccable Essay Proofreading and Editing
    • September 20, 2023
  • ROI, Return on investment, Business and financial concept 5
    Elevating ROI: Advanced Tactics For Funnel Efficiency
    • September 19, 2023
Featured Posts
  • Become a Decamillionaire
    How to Become a Decamillionaire, Grow your Net Worth to $10 Million, and Join the 1% Club
  • how to become wealthy
    The Entrepreneur’s Secret to How to Become Wealthy and Build a Personal Fortune
  • Most Profitable Small Businesses
    27 of the Most Profitable Small Businesses to Open in 2023
Categories
  • All Blogs (1,077)
  • Business (408)
  • Canadian Financial Products (4)
  • Create Wealth (Investing) (134)
  • Entrepreneur Interviews (27)
  • Featured Post for Main Menu (4)
  • Featured Top Posts (23)
  • Finance (110)
  • Financial and Investment Calculators and Economic Data (118)
  • Fitness (9)
  • Growing Profits (72)
  • Growing Revenues (115)
  • Growing Revenues (71)
  • Marketing (160)
  • Millionaire and Business owner interviews (3)
  • Positive State of Mind (69)
  • Real Estate Investing (17)
  • Retirement (13)
  • Reviews (13)
  • Sales (16)
  • Sell Me This Pen (8)
  • Selling your Business (13)
  • Starting a Business (1)
  • Startup Ideas (18)
  • Technology (194)
  • Top Products (4)
  • Uncategorized (62)
Follow us
Author
Jeff Wiener
Jeff sold his company to private equity in 2017 and is now semi-retired. Jeff spends time…

    CHECK OUT MY BLOG, AND SUBSCRIBE

    about
    The Kickass Entrepreneur

    Expand Your Business, Improve Profits, Create Wealth

    Expand your business, improve your profits, and create wealth. Each one of the three can be elusive goals. Follow the right steps, and you, too, can create financial independence. It is possible … you just have to take the right steps.
    NAVIGATION
    • About
    • Blog
      • All Blogs
      • Create Wealth (Investing)
      • Entrepreneur Interviews
      • Featured Top Posts
      • Growing Profits
      • Growing Revenues
      • Marketing
      • Positive State of Mind
      • Real Estate Investing
      • Retirement
      • Sales
      • Selling your Business
    • Book
    • Courses
    • Podcast
    • Resources
    • Contact
    TAGS
    apartment BATNA Business business failure business growth business sale Capitalization Rate CAP Rate cash cash flow Creating Wealth Discipline entrepreneur entrepreneurship excel extra cash Featured goal setting Growing Business investing investment real estate M&A marketing Marketing KPIs Mergers and Acquisitions | M&A | Entrepreneur Blog Millionaire millionaire next door mistakes MUR Peter Principle Profit profitability real estate retirement revenue Revenues sales sales management Semi-Retirement Blog | Entrepreneur Blog | Small Business Blog small business Stagnant stocks success Thomas Stanley wealth
    RECENT ARTICLES
    • horse jockey
      Top 5 Most Successful Horse Racing Jockeys Ever
      • September 8, 2023
    • man and papers
      Active vs. Passive Investing: Which Is Right for You?
      • August 8, 2023
    • seoul
      How Seoul Internships Shape Your Professional Journey
      • July 24, 2023
    • casino
      Empower Yourself With These 5 Lifelong Skills For Success In Casino Business
      • June 23, 2023
    • Real Estate Brokerage
      Factors That Affect Real Estate Commission Rates
      • June 21, 2023
    • Digital online marketing commerce sale concept. Woman using tablet payments online shopping and icon customer network connection on hologram virtual screen, m-banking and omni channel.
      A Savvy Shopper’s Guide to Purchasing Power Tools Online
      • May 23, 2023
    The Kickass Entrepreneur
    • Coaching
    • Book
    • Blog
    • Contact
    • Privacy Policy
    • Terms
    • Disclaimer
    • Facebook
    • LinkedIn

    Input your search keywords and press Enter.