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Canadian Estates Often Larger Than Expected: BMO Nesbitt Burns Estate Planning Expert Why it pays to plan your estate and treat it like an investment

While many Canadians don't believe their estate will provide much for their families, the reality is that the inheritance may be quite significant. According to BMO Nesbitt Burns estate planning expert, Wendy Templeton, life insurance policies, homes and vacation properties, as well as retirement savings and a person's own inheritance can all add up, leaving many surprised about how much they have.

However, this reality check also highlights the importance of estate planning. Templeton says the popular do-it-yourself wills can cause beneficiaries a number of problems down the road. In contrast, a thorough estate plan ensures your wishes are clearly articulated, that problems are anticipated and dealt with in advance and that, ultimately, there are no surprises.

Who:

Wendy Templeton, B.A., LL.B
Vice President, Wealth Transfer and Estate Planning,
BMO Nesbitt Burns

What:

Wendy can provide tips and straightforward explanations that Canadians can use to plan their wills and estates, while preserving family harmony. She can discuss:

The biggest misconceptions when it comes to estate planning
Where to start - basic checklist that all Canadians can use
The perils of “do it yourself” estate planning
10 principles of sound estate planning that anyone can follow, including the importance of consulting family members, hiring an expert and the significance of choosing an executor
Looking at an estate plan as an investment - how a well thought-out plan can help identify tax planning and savings opportunities
Preserving family harmony: dealing with sibling rivalries, black sheep and ex-spouses

To hear more from Wendy about estate planning tips, visit BMO Financial Group's retirement website at: www.bmo.com/regeneration to download her new podcast on this subject. BMO recently launched this podcast series to examine emerging issues facing Canadian boomers who are approaching retirement. The podcasts are hosted by Pamela Wallin, a journalist for more than 30 years and a member of BMO Financial Group's Advisory Council on Retirement.

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