Writing a will is an important step for those planning their estate, according to Moneyville.ca. Those who do not write out a will with their wishes could potentially lose some of their property according to the rules of their province. In addition, capital gains taxes and probate fees can also take nearly half of the estate if a will is not in place.
Thus, Canadians should be sure to take the steps of estate planning seriously to ensure all items and holdings end up with the right people. One of the steps in drafting a will is choosing an executor. This is the person who will be responsible for carrying out the wishes of the deceased once they have passed on. Typically, this person does not need legal expertise, and can usually handle the responsibilities with the assistance of an attorney.
Canadians undertaking the process of estate planning may also want to consider renting a self storage unit to hold the items they plan on passing to their children. Fortunately, there are a number of Toronto self storage facilities that will hold these items for affordable rates.
Jiffy Self Storage, a leader in Toronto storage solutions, is currently running a contest on their website for a free iPad 3. Visitors to the site simply need to match a few Canadian landmarks and they'll be entered to win the iPad or one of several other prizes.