You never know someone until you have to share an inheritance with them

Happy Thursday to all of you!

I'm an early riser. I take our dog Gigi out for a run every morning around 6am (when it's not less than -20!). Before I leave the house, I scan the news headlines over a cup of coffee and this morning I ran across an article on the Globe and Mail website and wanted to share it with all of you.

Estate planning is something that everyone SHOULD do on an ongoing basis but it's definitely something we all try and avoid. No one wants to think about passing away but you really should and ensure that you've made your wishes very clear. How will your worldly possessions be distributed? How will your children be looked after if they are still minors when you pass away? How will their education be paid for? Are my adult children all getting along and can I be assured that there will not be any fights when I do pass away? Etc etc.

I heard a phrase a long time ago, from an Estate Planner I worked with when I was with Clarica: "You never know someone until you have to share an inheritance with them."

Strong words that I have stayed with me. They are words that I use often with clients when we are venturing into the estate planning process.

There are some great points in this Globe and Mail article. In particular, the points about joint assets with children (a very common mistake) and principal residence issues. Have a read and let me know your thoughts.

If you haven't started your estate planning, call me or email and we can start slowly. Take it step by step as it doesn't happen overnight. I have a booklet that can help you get all your critical paperwork into one spot. It's a good start and then we can move on from there. You can book an appointment online with me as well.

We should all be prepared for the inevitable. Every day is a gift and we should plan accordingly.

~ Dawn