March 14, 2008

Estate Planning

Posted in Uncategorized at 4:31 pm by bitsypieces

Both the upcoming arrival of Baby and my mother’s terminal illness have pushed the issue of estate planning to the forefront of my mind. I mentioned life insurance in a previous post, but now I am considering the changes Hubby and I should make to our will.

Our current wills are pretty basic. We had no dependents and very few assets to consider. However, the issue of guardianship of our child has become a new situation we must address.

Moreover, we must also consider how our finances will be handled in the event of our death. Will our money go to the guardian of our children? Or will we appoint a separate legal guardian and financial guardian? Or will we place the money in a trust fund, to be given to our child at a certain age?

Obviously, these questions require some thought. And, unfortunately, they also require knowledge that I don’t currently possess. We don’t have a financial advisor to ask… so I thought I’d pose the question to my fellow bloggers.

What kind of plan do you have for your children in the event of your death?


1 Comment »

  1. Here is a useful article on Estate planning law in Ontario, Canada and the effects of not having a last will and testament that was written by a Toronto Wills Lawyer- Toronto Wills Lawyer Discusses Why You Need a Will

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