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ARTICLE · 26 NOVEMBER 2019

Estate Planning Considerations For Singles And Singles With Children

While making a Will may seem like a one-size-fits-all endeavour to many, customizing an estate plan is a delicate exercise, especially as life changes and circumstances evolve.

CanadaReal Estate and Construction

While making a Will may seem like a one-size-fits-all endeavour to many, customizing an estate plan is a delicate exercise, especially as life changes and circumstances evolve. For single people and single people with children, the process can involve different considerations than for those with a spouse. Ensuring that appropriate individuals are appointed as estate trustees and guardians, as attorneys for property and personal care, and taking note of tax, probate planning and charitable giving opportunities, are critical to ensure that assets are transferred to the intended beneficiaries at the right times. It is also important that the right person is appointed to care for you in the event you become incapable of making personal care decisions. Many people focus on what will occur on their death, when in many cases, more consideration should be given to who will assist them in illness or on incapacity. This can be a more challenging decision for single people who do

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