Death of your Parents

Many "baby boomers" are seeing their parents' age dramatically. Usually without much warning, they find themselves thrown into the role of executor or estate trustee in completely unknown territory. Lawyers will handle the probate of the Will but all other issues are left to you or your siblings with no knowledge. Not only are you charged with all kinds of legal and emotional responsibility but there are timeframes for compliance and possibly conflicting situations to resolve.

Prior estate planning with Transitions Wealth Strategies will definitely save the surviving family members a lot of financial and emotional heartache at this troubling time.

Some of the issues to be accommodated if you are named as the estate trustee (executor) include...

• Funeral Arrangements
• Finding the Original Will
• Working with the lawyer on the Probate process
• Collapsing RRSPs and other investments
• Selling property
• Applying for the CPP death benefit
• Disbursing all debt; cancelling credit cards
• Filing the terminal tax return
• Disbursing the estate to the beneficiaries
• Accounting

At Transitions Wealth Strategies, we act as your personal guide and mentor to ensure that your "job" as executor is handled as effectively as possible. We tactfully partner with you to address the issues that will otherwise likely create stress and perhaps conflict at the time of your parents’ passing (PDF1).

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