An Estate Workbook - Bardal Funeral Home

An Estate Workbook - Bardal Funeral Home

An Estate Workbook for you and your family This workbook is designed to help you organize the many tasks that your loved ones will face following your...

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An Estate Workbook for you and your family This workbook is designed to help you organize the many tasks that your loved ones will face following your passing. When you have passed is the time that your loved ones will need your guidance the most. Completing this workbook will give them information they need to finalize funeral arrangements, look after your affairs and wind up your estate as you have planned.

843 Sherbrook Street Winnipeg, MB R3A 1M6 Phone: (204) 774-7474 E-mail: [email protected]

Part One

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How to use this workbook This workbook has been designed as a guide to help you with estate planning and with the winding up of an estate. This is a workbook with sections you can revise as your situation changes so that when needed, those left to look after your affairs will have up-to-date information to work with. At a minimum, you should review this document at least annually.

Part One gives an overview of issues related to estate planning and the winding up of an estate. This part is intended as an aid in understanding what should be done now and the roles of various people in carrying out your wishes if you are unable to manage your own affairs or after your death.

Part Two is for your family and executor. The first section is where you should record important information so that, upon your death or becoming incapacitated, those who will be looking after your affairs will know the extent of your estate, what professionals in this area you deal with, and where all relevant documents are located. The second section gives information to them concerning what to do and who to contact upon your death.

Part Three will assist you in assessing the adequacy of arrangements for your family. It consists of a set of exercises that you and your family may find helpful in assessing your financial situation. It also provides some suggestions regarding how you can assess the arrangements you have already made, and things you might wish to do now in order to improve those arrangements.

Part Four describes the entitlements of your survivors under various public pension plans, gives additional information related to these plans that may be useful to you and to your family and executor and gives other sources of information, advice, and assistance.

Each individual’s circumstances are different and this workbook cannot replace professional services you may need. If you have doubts or questions respecting accounting, bequests, investments, legal matters, taxation, wills or other issues that may affect you, we encourage you to seek advice from the appropriate professionals. It is always wise and often necessary to seek professional advice.

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This workbook is aimed at a mixed group of people. Some are well off, and others, not. Some are single, and others, married. For some, their pensions are a greater part of family income than for others. Some need to pay more attention to the issues raised in this workbook than others do. The rich variety of this audience has influenced this workbook in many ways. We have tried to lay out the essentials for everyone, and provide additional information for those who wish to proceed further. We have attempted to indicate some of the many sources of advice that can help address special circumstances. Finally, we have provided you with some exercises that will help you decide if your survivors will be adequately provided for, and if not, point you in the direction of seeing that they are. We hope that families will discuss the workbook and its contents together. A few hours spent discussing some of the issues raised here e.g. finances, wills, obligations, and wishes, can make a major difference. Looking after your family is best done with your family.

Some Words of Caution The material provided in this workbook is general in nature and you should be aware that requirements may vary from province to province. Some sections of the workbook are useful anywhere, but it is written with Manitoba residents as the primary readers and users. While much of the information in this publication relates to all Canadian jurisdictions, there are some major differences between provinces. However, this workbook is designed as a guide to good estate planning practice. It is not intended as an authoritative reference to precise legal requirements as they exist on a provincial basis. If you have dependants living in another province, we suggest that professional assistance may be of benefit to you.

A Note on Common-law Relationships With the passage of Bill C-23, An Act to modernize The Statutes of Canada in relation to Benefits and Obligations on 29 June 2000, same-sex relationships are defined as commonlaw relationships with respect to all laws enacted by the Parliament of Canada. Throughout this workbook, whenever the term "common-law" is used, it is to be understood that it applies equally to opposite-sex and to same-sex couples. Unless defined otherwise, the term "spouse" refers to a common-law spouse as well as a legally married husband or wife.

Part One

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Part One Estate Planning Overview The goal of estate planning is to organize your affairs in such a way that, upon your death or incapacity, your family members will continue to enjoy a standard of liv1ng similar to what they currently enjoy. To achieve this goal and to assist your family and executor in managing the transfer of assets to the beneficiaries of your estate, there are three issues that must be addressed: • You have to leave accurate records relating to your estate in an accessible location so that your executor can wrap up your affairs efficiently and according to your wishes. There are forms in this workbook that will help you organize your papers and record your information. • You should review your current income and expenses as well as estimating your survivor's income and expenses after your death. This workbook provides some forms that will help you make these estimates and also gives some general information that will help you assess the adequacy of your provisions for your family. These forms and information will also help you decide if professional help is required. • You should also consider taking the necessary steps to enable someone to manage your affairs should you no longer be able to do so yourself. This workbook has suggestions for doing this. The organized approach recommended here will assist in enabling the management of your affairs when you are no longer able to do so yourself.

Providing for Your Family The needs of your survivors are a fundamental concern of estate planning. Without estate planning, what a family ends up with is left to chance. Having a pension plan with a survivor benefit, as well as the survivor benefit provisions of the Canada Pension Plan simplifies estate planning in this context.

However, pension plans were never designed as a substitute for proper estate planning and were never intended to provide all the income a family needs to maintain a similar standard of living enjoyed while the spouse was still alive. In Part 3 we provide some advice on how to determine what your survivor's income will be when you die. You and your spouse or other survivors can then decide if that amount of income will be adequate. If you conclude that your survivors will not be adequately provided for under current arrangements, we make some suggestions on how to make arrangements so that you can spread part of your current income over the full lifetime of your spouse. This will not be an easy decision as it may require you to reassign current expenditures. The reward of knowing that your family will not be destitute is worth it.

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Transferring Assets Upon Death Upon death, assets are transferred legally to others in one of five ways: •

Named Beneficiary: Insurance policies, death benefits, RRSPs, and RRIFs allow the holder to name a beneficiary to whom the asset will be transferred or paid to upon the death of the holder.

• Joint Ownership: Assets such as real estate and bank accounts owned jointly generally become the property of the survivor upon the death of the other. •

Will: Assets not transferred by any other means become the estate subject to probate and to ultimate transfer to the person(s) named in the will.



Testamentary Clause in a Marriage Contract: ln Quebec, such a clause to the effect that the estate devolves to the surviving spouse, has the same power as a will. Some other provinces also permit the disposition of property upon death to be included in a marriage contract.



Provincial Laws: If a person does not have a will and dies with assets not subject to transfer to a named beneficiary or as part of jointly held property, the person is said to die "intestate". The estate is distributed according to the provisions of the law of the province in which the person resided. Notwithstanding the provisions of a will, the naming of a beneficiary, or joint ownership, provincial laws normally dictate minimum amounts that must be left to a surviving spouse and surviving dependent children. Failure to make adequate provisions for a spouse or dependent children may result in a court order requiring transfers to these survivors as specified by law.

It should be noted at this point that a right to a pension cannot be transferred by a will. For example, a survivor allowance is a right of the survivor. It is not the property of the contributor. In practice, a will outlines your preferred distribution of an estate and appoints an executor who carries out your instructions and defends them against other claims. A sensible will with a good executor protects your family from needless delay and strife. There will be little temptation to challenge its provisions. Without a will, there may be a substantial delay in the distribution of your assets to loved ones and additional administrative costs.

Joint Accounts: A Word of Caution While there are many reasons for having joint accounts, some problems can be encountered at the time of death of the account holders. The major problems that can occur with some accounts are the freezing of the account for some (usually short) period of time and the cancelling of the account (and transfer of funds into a new account in the name of the survivor only). lf the account is cancelled, this usually occurs one month after the death of one the account holders.

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The freezing of an account can be inconvenient since if this is the only account of the survivor, needed money may not be available to the family for several days. The cancelling of an account can also be inconvenient if pension funds (e.g. superannuation, Canada Pension Plan, and Old Age Security payments) of both account holders are directly deposited to that account. If the survivor is unable to have his or her own pension payments redirected before the account is closed, these payments may not be accepted by the financial institution and the family may have to wait for one or two months before receiving these payments. To avoid these kinds of problems, if you have a joint account with your spouse, you should talk to your financial institution manager and find out what procedures they follow and what, if anything, you need to do to avoid the problem. Since the problem arises either because of the policy of the financial institution or the application of provincial law, there will be differences between financial institutions and between provinces. Most managers of financial institutions will be quite helpful in giving you advice and assistance. If one of these problems could happen to you or your spouse, there are several options open to you. You could each have a small account in your own name only, with sufficient funds for a short period of time. Your financial institution may arrange to advance funds to the survivor for a short period of time while the account is frozen. The financial institution may arrange to keep the account open until all payments that might come into it have been redirected to the new account. In some financial institutions, one person is designated as the principal account holder of a joint account, and the account is only frozen or cancelled upon the death of the principlal account holder. If you and your spouse each are the principal account holders of different joint accounts into which each has his or her pensions deposited, problems associated with the freezing or cancelling of the account will be minimized. While this may all seem very complicated, your best advice is to talk to your manager and seek his or her advice.

Probate Fees: Making Sensible Choices The probate of a will can be somewhat costly. There are significant cost differences between provinces and territories in Canada. Some or all of these costs can be avoided under certain circumstances. If all the assets can be transferred directly, such as the proceeds of insurance paid to a named beneficiary, RRSPs or RRIFs with a named beneficiary, or a joint interest in real estate, then the executor may not have to probate the will. In those jurisdictions where probate fees or taxes are based on the value of the estate, the more assets that can be transferred directly, then, the lower will be the probate fees or taxes. On the other hand, even in those jurisdictions with relatively high probate fees, there may be good reasons to have at least part of the estate pass through a will. Compared to procedures needed for the avoidance of probate, a will allows more flexibility in designating who gets what. A will also allows unlimited choice of assets in which to hold your wealth; on the other hand, trying to avoid probate fees or taxes limits you to a relatively small class of assets. For many people, there are no simple solutions to the avoidance of probate fees or taxes. Ultimately the decision has to be made by you, carefully weighing the benefits and costs of each option. If your assets are extensive, it may be advisable to seek the advice of a professional in the field of estate planning.

Part One

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In Manitoba, except for estates consisting of small amounts such as small amounts in a bank account, all wills must be probated. The probate of a will involves asking a court designated for the purpose (sometimes called a Probate Court) to certify the validity of a will and the appointment of an executor by the will. If the named executor(s) is (are) unable to act, the court will name someone else. Your estate will be charged a probate fee or tax based on the value of what passes through the will. Manitoba has a sliding scale starting at $25 on the first $5,000 and $6 for each $1,000 in excess of $5,000. Property not transferred through the will, e.g. joint ownership of a home, proceeds of an insurance policy, or money in a joint bank account, escapes the probate fee.

Choosing an Executor An executor is the person (or persons) who executes your instructions after you have died, distributing your assets and attending to other matters related to the estate, like the payment of taxes, debts, funeral, and testamentary expenses. Your executor should be competent and trustworthy. Spouses commonly appoint each other, but if one of them feels unequal to the task, people may choose to have a son, daughter, close relative, or friend take on the task. You should consult the person or persons you intend to name as executor so that you can be sure they are prepared to assume the responsibilities. Name a willing alternative executor. You may appoint a trust company to act as the executor. Alternatively, a trust company can act as the agent to your personal executor. You should consult with the trust company before appointing it as your executor. In choosing an executor, you should bear in mind that he or she will be dealing with financial and legal matters, the complexity of which will depend on the nature of your estate. Your executor should have the necessary competence and be trustworthy. An incompetent or untrushvo1ihy executor can put the inheritance you intend to pass on to your heirs at serious risk. The executor is entitled to be reimbursed for his or her costs and should keep receipts to support any claims. Professional firms, banks, and lawyers charge fees. You may wish to stipulate in your will such compensation if a relative or friend will be handling your estate. lf no amount is specified, the law of most provinces provides that the executor may take up to some amount for his or her services.

Guardian: When to Appoint One If you have minor or incapacitated children, you should name a guardian in your will in the event that your spouse, or other parent, predeceases you. You should include instructions for the guardian about such matters as the education of your children. In some provinces, nomination by will is not sufficient to give legal powers to the guardian, and an application to the court may be required. The court will take your wishes, expressed in your will, into account.

To ensure that your minor or incapacitated children are properly cared for, you should seek professional legal advice.

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Power of Attorney: When to Appoint One A power of attorney authorizes another person to act on your behalf, to assume some of your legal powers under certain conditions. A power of attorney may only be used during your lifetime and terminates at the time of your death. A will, in contrast, deals with the disposition of your property after death and only takes effect after your death. A power of attorney can be limited to specific activities such as negotiating securities transactions in one or more investment accounts, or it may be limited to specific time, such as when you are away or temporarily unable to manage your own affairs. A general power of attorney gives authority to the attorney to act on your behalf in all matters that can legally be done by an attorney. The power of attorney may come into effect only if a specific event occurs (for example, if you are in a coma and thus mentally incapable), or it can be structured to come into effect immediately. A general power of attorney is usually prepared to have immediate effect and to contain a"continuing" or "enduring" clause so it will remain effective until you become capable. Many people leave the original executed copies of the power of attorney with a trusted third party (such as your lawyer) with a direction as to when it may be released to the attorney. Your attorney must have an original copy of the power of attorney to act on your behalf. A photocopy is insufficient unless it is a certified copy of the original. The term "attorney" does not necessarily mean "lawyer". He, or she, is an "attorney" in the sense that the signature of the person you authorize will be recognized by third parties as legally binding upon you. You can choose any mentally capable person to act as your attorney, subject to age restrictions that apply in some provinces. Spouses commonly nominate each other, but it can be a friend, lawyer, accountant, or other trusted individual. You can also appoint a trust company. Depending on applicable provincial law, your attorney may not be entitled to compensation unless you specifically indicate otherwise. The choice of an attorney demands careful consideration and you should ensure that an alternate is available and that both of them understand your wishes. When granting a power of attorney, you decide what limits are placed on the powers granted. Subject to applicable provincial legislation and to any restrictions that you may place on your attorney, a general power of attorney can be allencompassing and can grant authority to make virtually any type of decision relating to your property that you could make yourself, except make a will. Failure to attend to your affairs can cause difficulty and sometimes can be catastrophic. If you do not have a continuing power of attorney and you become mentally incapable, your family or friends may have to go through a time-consuming and expensive legal process to get authority to manage your financial affairs. You can choose to revoke the power of attorney at any time. It then becomes null and void. However, you have to advise your attorney in writing. A power of attorney terminates on the death of the grantor.

Drafting a power of attorney is important. Some provinces provide a kit to facilitate your efforts. If your affairs are not simple and you need complex instructions and safeguards, seek professional advice.

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If you have a spouse and all property, bank accounts, etc., are joint, then your main reason for having a power of attorney is in the relatively unlikely case that your spouse dies or becomes incompetent at the same time as you do. However, even if your financial assets are small and you own real property, even jointly held with your spouse, should you become incapacitated, your spouse may need to sell some property; until you die, he or she will not be able to do so unless you have given someone a power of attorney. A power of attorney will normally not give the attorney access to a safety deposit box. If you wish your attorney to have access, discuss how best to make this arrangement with the manager of the financial institution where your box is located.

Living Will and Power of Attorney for Personal Care A living will is a document that states how a person wishes to be treated if he or she becomes incapacitated by illness, injury, or old age. It is meant to convey your personal philosophy and views regarding health care and your wishes regarding life-prolonging treatments in the face of terminal illness. While living wills have legal effect in some provinces, their primary purpose is to give direction to family and caregivers about your wishes, not to serve as a legal document. They do not need to name anyone or to be written in any specific way and are a complement to a power of attorney for personal care. Several provinces now have legislation allowing you to appoint an agent or attorney to make "personal care" decisions. A power of attorney for personal care generally comes into effect only after mental incapacity. It may govern such matters as medical treatment, health care, nutrition, shelter, clothing, hygiene, and safety. The person named in your power of attorney for personal care does not have to be the same person named in your power of attorney for property; however, you can designate the same person if you wish.

Organ Donation Organ donation instructions can also be thought of as a kind of will. The decision to donate your organs upon death is a personal choice to be made by you, preferably in consultation with your family. Should you choose to do so, your close relatives should know your wishes and the location of your organ donation authorization so that proper action to preserve your organs can be taken immediately upon your death.

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Funeral Arrangements While this workbook will help to you get started with your funeral and estate planning, it cannot replace the value of preplanning arrangements with a funeral professional you can find through a funeral home, transfer service, cemetery or crematorium. Preplanning your final arrangements will take a huge burden off your surviving loved ones when they are dealing with your passing and will ensure that your estate remains as you have planned it for survivors. Just as it is important for you to review you finances to ensure the best outcome for your survivors, preplanning will ensure your wishes are carried out without jeopardizing your estate planning.

Each individual’s circumstances are different; this workbook cannot replace professional services you may need. If you have doubts or questions respecting accounting, bequests, investments, legal matters, taxation, wills or other issues that may affect you, we strongly encourage you to seek advice from the appropriate professionals. It is always wise and at times necessary to seek appropriate professional advice.

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PART TWO SECTION ONE PROVIDING INFORMATION FOR YOUR FAMILY AND EXECUTOR On your death, your family and executor will require information your estate, your financial arrangements, your wishes, who to contact and what to do. This part is for them. The first section is for you to provide information on yourself and members of your family and to list your key advisors and how they can be contacted. The second section is to be completed without delay and updated regularly. It is your record of where your important certificates and documents are located and a statement of your assets, liabilities and income. NOTE: All dates in the following forms are in a dd/mm/yyyy fomat

SECTION ONE Personal Information Full Name: _________________________________________________________________ Nickname or common name: __________________________________________________ Street Address: ______________________________________________________________ City/Town: ___________________________ Prov/Terr: _______ Post Code:_____________ Telephone: Home: _____________ Work: _____________ Ex:_____ Cell:______________ Date of Birth: _________________ Place of Birth: __________________________________ Marital Status: _________________________

Date of Marriage: ____________________

Place of Marriage: ____________________________________________________________ Full Name of Spouse: _________________________________________________________ Date of Birth: _________________ Place of Birth: __________________________________ Maiden Name: _______________________________________________________________ Your Social Insurance N0: _____________ Spouse's Social Insurance No: _______________

DATE: ____________________

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EX-SPOUSES (if applicable): Name: _____________________________________________________________________ Date of Birth: _________________ Place of Borth: _________________________________ Date of Death: _________________ Place of Death: ________________________________ Name: _____________________________________________________________________ Date of Birth: _________________ Place of Birth: __________________________________ Date of Death: _________________ Place of Death: ________________________________ LEGAL OBLIGATIONS (created by divorce or separation):

PENSION NUMBERS (if applicable) : ______________________________________________ MILITARY DISABILITY PENSION NUMBER (if applicable) _____________________________ PUBLIC SERVICE HEALTH CARE PLAN NUMBER (if applicable) __________________________ PENSIONER’S DENTAL SERIVICE PLAN NUMBER (if applicable) _________________________ DATE: ___________________

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FULL NAMES OF CHILDREN (including step-children): NAME

BIRTH DATE

Use a separate list to include children’s husbands or wives as well as grandchildren and greatgrandchildren where appropriate. NOTES:

DATE:____________________

Part Two Section One

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YOUR FAMILY Father: __________________________________________________________ Birth Date: _____________ Birth Place: _______________________________ Death:Date _________________________ of Mother: _________________________________________________________ Birth Date: _____________ Birth Place: ________________________________ Date of Death: ______________ Place of Death: ________________________ Siblings: Name

Birth Date

Death Date

Notes:

DATE: ________________

Part Two Section One

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My Choices Funeral Pre-arranged:

Yes

No

Funeral Pre-paid:

Yes

No

Place of Service:

Funeral Home

Church

Other

Name of facility: ___________________________________________________________ Address: _________________________________________________________________ City/Town: ____________________________ Prov/Terr: ____ Phone: _______________ Officiant: ________________________________________________ Phone: _____________ Preferred music: ______________________________________________________________ ______________________________________________________________ ______________________________________________________________ Choice for Eulogy: _________________________________________ Phone: ____________ _________________________________________ Phone: _____________ Pallbearers: _____________________________________________ Phone: _____________ _____________________________________________ Phone: _____________ _____________________________________________ Phone: _____________ _____________________________________________ Phone: _____________ _____________________________________________ Phone: _____________ _____________________________________________ Phone: _____________ Honorary Pallbearers: _____________________________________________ Phone: _____________ _____________________________________________ Phone: _____________ _____________________________________________ Phone: _____________ _____________________________________________ Phone: _____________ DATE: _________________

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Burial:

Yes

No

If yes, do you have a cemetery property?

Yes

No

Name of Cemetery: _________________________________________________________ Cemetery Section: _______________________________ Cemetery Lot No: ____________ Monument purchased:

Yes

Cremation:

No

Yes

If yes, where do you want the ashes placed?

No

Family Plot

Niche

Location: _________________________________________________________ Section: _______________________________ Lot No: ____________

Other choices and instructions:

DATE: __________________

Part Two Section One

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SPOUSE’S FAMILY Father: __________________________________________________________ Birth Date: _____________ Birth Place: ______________________________ Date of Death: ______________ Place of Death: ________________________ Mother: _________________________________________________________ Birth Date: _____________ Birth Place: _______________________________ Date of Death: ______________ Place of Death: ________________________ Siblings Birth Date

Name

Death Date

Notes:

DATE: _________________

Part Two Section One

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SPOUSE'S CHOICES Funeral Pre-arranged:

Yes

No

Funeral Pre-paid:

Yes

No

Place of Service:

Funeral Home

Church

Other

Name of facility: _______________________________________________________ Address: _____________________________________________________________ City/Town: _________________________ Prov/Terr: ____ Phone: ______________ Officiant: ______________________________________________ Phone: _____________ Preferred music:

_________________________________________________________ __________________________________________________________ __________________________________________________________

Choice for Eulogy: ______________________________________ Phone: _____________ ______________________________________ Phone: ____________ Pallbearers: ____________________________________________ Phone: _____________ ____________________________________________ Phone: _____________ ____________________________________________ Phone: _____________ ____________________________________________ Phone: _____________ ____________________________________________ Phone: _____________ ____________________________________________ Phone: _____________ Honorary Pallbearers: ____________________________________________ Phone: _____________ ____________________________________________ Phone: _____________ ____________________________________________ Phone: _____________ ____________________________________________ Phone: _____________ DATE: ________________

Part Two Section One

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Burial:

Yes

No

If yes, do you have a cemetery property?

Yes

No

Name of Cemetery: _________________________________________________________ Cemetery Section: _______________________________ Cemetery Lot No: ____________ Monument purchased:

Yes

Cremation:

No

Yes

If yes, where do you want the ashes placed?

No

Family Plot

Niche

Location: _________________________________________________________ Section: _______________________________ Lot No: ____________

Other choices and instructions:

DATE: __________________

Part Two Section One

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KEY ADVISORS AND CONTACT INFORMATION NAMES, ADDRESSES AND PHONE NUMBERS ACCOUNTANT: ______________________________________________________________ FIRM NAME: _________________________________________________________ ADDRESS: ________________________________________________________________ CITY/TOWN: __________________________ PROV/TERR: _______ POST CODE: ________ PHONE: ____________ EX:______ FAX: ______________ CELL:______________ ATTORNEY (Power of Attorney): ________________________________________________ FIRM NAME: ______________________________________________________________ ADDRESS: ___________________________________________________________________ CITY/TOWN: ___________________________ PROV/TERR: _______ POST CODE: ________ PHONE: ____________ EX: ______ FAX: _______________ CELL: ______________ BANKER (CONTACT) : _________________________________________________________ FIRM NAME: ________________________________________________________________ ADDRESS: ___________________________________________________________________ CITY/TOWN: ___________________________ PROV/TERR: _______ POST CODE: ________ PHONE: ____________ EX: ______ FAX: _______________ CELL: ______________ BANKER (CONTACT) : _________________________________________________________ FIRM NAME:__________________________________________________________________ ADDRESS: ___________________________________________________________________ CITY/TOWN: ___________________________ PROV/TERR: _______ POST CODE: ________ PHONE: ____________ EX: _____ FAX: ______________ CELL: _____________ DATE: ___________________

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BROKER (CONTACT) : _________________________________________________________ FIRM NAME: _________________________________________________________________ ADDRESS: ___________________________________________________________________ CITY/TOWN: ___________________________ PROV/TERR: _______ POST CODE: ________ PHONE: ____________ EX: ______ FAX: _______________ CELL: ______________ DOCTOR: ________________________________________________________ CLINIC_________________________________________________________________ ADDRESS : ___________________________________________________________________ CITY/TOWN: ____________ ______________ PROV/TERR: _______ POST CODE: ________ PHONE:___________ EX: _____ FAX: ______________ CELL: _____________ DOCTOR: __________________________________________________________ CLINIC: ________________________________________________________________ ADDRESS:__________________________________________________________________ CITY/TOWN: ___________________________ PROV/TERR: ______ POST CODE: _________ PHONE: ____________ EX: ______ FAX: _______________ CELL: ______________ DOCTOR: _________________________________________________________ CLINIC NAME: _______________________________________________________________ ADDRESS: ___________________________________________________________________ CITY/TOWN: ___________________________ PROV/TERR: _______ POST CODE: ________ PHONE: ____________ EX: ______ FAX: _______________ CELL: ______________ HOSPITAL: _______________________ CONTACT NAME: _______________________ ADDRESS: ___________________________________________________________________ CITY/TOWN: ___________________________ PROV/TERR: _______ POST CODE: ________ PHONE: ____________ EX: ______ FAX: _______________ CELL: ______________ DATE: ________________

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EXECUTOR (Name):__________________________________________________________ ADDRESS: __________________________________________________________________ CITY/TOWN: _____________________________ PROV/TERR: ________ POST CODE: _________ PHONE: ___________ EX: _____ FAX: _______________ CELL: _____________ EXECUTOR (Name): __________________________________________________________ ADDRESS: ___________________________________________________________________ CITY/TOWN: ___________________________ PROV/TERR: _______ POST CODE: ________ PHONE: ___________ EX: ______ FAX: _______________ CELL: _____________ FINANCIAL ADVISOR: _____________________________________________________ FIRM NAME: _________________________________________________________________ ADDRESS: __________________________________________________________________ CITY/TOWN: ___________________________ PROV/TERR: _______ POST CODE: ________ PHONE: ____________ EX: ______ FAX:____________ CELL: ____________ INSURANCE AGENT: _______________________________________________________ FIRM NAME: __________________________________________________________________ ADDRESS: ___________________________________________________________________ CITY/TOWN: ___________________________ PROV/TERR: _______ POST CODE: ________ Phone: ____________ EX: ______ FAX: _______________ CELL: ______________ LAWYER: _______________________________________________________ FIRM NAME: __________________________________________________________________ ADDRESS: ___________________________________________________________________ CITY/TOWN: ___________________________ PROV/TERR: _______ POST CODE: ________ PHONE: ___________ EX: ______ FAX: _______________ CELL: ______________

We recommend that you save a copy of this workbook to file even if the forms are incomplete. You can reopen and complete or amend the forms at any time. DATE: ________________

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INSTRUCTIONS

Now that you have completed Part Two - Section One of the workbook, you should save a copy to your computer fot future reference. You can reopen the file thast you save and make any necessary or desireable changes. We recommend that you review the workbook at least annually as thing change in a family from time to time and changes may affect your planning. To save a copy to your file, click on the SAVE button brloe, and a copy of your workbook waill be saved to your computer hard drive or a USB drive if you prefer with a name and location that you specify.

SAVE You may want to print a copy of your personal information without all the text before and after the information that you entered so far. To do so, click on the PRINT button below, but make some changes to the default printer setup. The default printer setting is All (pages). To print the section you have completed, change the setting to Pages and type in 11 - 22 in the test box to the right of the Pages button. You can change the Print setup to print only pages you have completed and wish to have in paper copy without printing all the text that goes before and after. Just change the page range to print as needed.

PRINT

Part Two Section One

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PART TWO - SECTION TWO DOCUMENTING YOUR ESTATE The purpose of this section is to help you maintain a handy reference for you, your family and executors on income sources, assets and liabilities, as well as the location of important documents. First make sure that you know where important certificates are located and that you acquire legal copies if they are not in your possession. Then list your assets, liabilities, sources of income and other estate documents. You will be able to indicate important information respecting each item such as the location of certificates and statements, the name of institutions from which you receive income and institutions that hold assets on your behalf.

We encourage you to ensure that your survivors and executors will be able to find this workbook and your important documents when needed. We recommend that you keep at least one copy away from your primary residence in the event that a fire, flood or other catastrophe destroys your records. Rebuilding your important documents will be much easier if you have access to the information you complete on the following pages. ITEMS FOR WHICH ACTIONS MAY BE REQUIRED Obtain legal copies of any documents that are not now in your possession; If you or your spouse had a previous marriage, you will need the former spouse’s death certificate or a divorce decree because the divorce may give a former spouse a claim on the estate. If there is no final separation or divorce, you will need to determine the implications. For example, a former spouse and a common-law spouse may share survivor benefits. If you have a common-law spouse, you may need to prove the status of your spouse and yourself. If so, assemble the needed evidence now and submit it to your employer or pension office while you are able address any obstacles and while those who know you are able to make appropriate affidavits if required.

We recommend that you save a copy to file even if the forms are incomplete. You can reopen and complete or amend the forms at any time. If you are updating information, please be sure to change the date at the bottom of each page you update.

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Personal Certificates and Documents Indicate the location of documents:

SELF DOCUMENT

LOCATION

Birth Certificate Marriage Certificate Immigration Certificate Passport

IF SECOND MARRIAGE/COMMON-LAW RELATIONSHIP Death certificate of former spouse Divorce Decree Separation Agreement

IF THIRD MARRIAGE/COMMON-LAW RELATIONSHIP Death certificate of former spouse Divorce Decree Separation Agreement List any liability or obligations arising from a divorce or separation.

DATE: _____________

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SPOUSE DOCUMENT

LOCATION

Birth Certificate Marriage Certificate Immigration Certificate Passport

IF SECOND MARRIAGE/COMMON-LAW RELATIONSHIP Death certificate of former spouse Divorce Decree Separation Agreement

IF THIRD MARRIAGE/COMMON-LAW RELATIONSHIP Death certificate of former spouse Divorce Decree Separation Agreement List any liability or obligations arising from a divorce or separation.

DATE: _____________

Part Two Section Two

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Advice on How to Complete Documentation This chart will help gather documentation as you fill out the various forms in this manual. ACTION ITEM Annuities List them and the institution issuing them. Bank Accounts List all bank accounts and indicate where the bank books and monthly statements are kept. Indicate where statements are kept. Canada Pension Plan Home, cottage, cars, boats, other real property. Obtain deeds Deeds & Ownership and proof of ownership and indicate where they will be kept. Last Tax Return Indicate where your income tax papers are kept. Obtain copies of all loan agreements and indicate where they Loans are kept. Mutual Funds Obtain the most recent statement. Note the issuer's and broker's names, addresses and your account numbers. Other Assets Antiques, coin and stamp collections, jewelry, etc. - list with an estimated current value. Other income List all other sources of income and their sources. Pensions Note each pension and the relative details. RRIFs List all RRIFs and the agencies granting them. RRSPs List all your RRSP accounts, the address of the registry agents, your account numbers and contact names. Obtain the most recent statements for all accounts. Safety Deposit Box Record the number and the name of the institution where it is, Indicate where the key is. Obtain the most recent statements. Note the broker’s Stocks name, address and your account number. Term Certificates and List names, number, value, maturity, and the names Bonds and locations and contact numbers of institutions holding them.

Insurance Death Benefits Health Insurance Life Insurance Property Insurance

Note all relevant information. Note the carrier, membership number, administrator, etc.. Locate all life insurance policies including those that cover loans. Indicate where copies are stored. Find and list all policies and note the payment schedules and where they are kept or stored.

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FINANCIAL CERTIFICATES AND DOCUMENTS ITEMS TO LOCATE

SELF

Annuities

Bank Accounts

Canada Pension Plan Deeds and Ownerships

Last Year’s Income Tax Return Loans

Mutual Funds Certificates Pensions RRSP Certificates Safety Deposit Box Stock Certificates Term Deposit and Bond Certificates Other

DATE: _____________

Part Two Section Two

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ITEMS TO LOCATE Annuities

SPOUSE

Bank Accounts

Canada Pension Plan Deeds and Ownerships

Last Year’s Income Tax Return Loans

Mutual Funds Certificates Pensions RRSP Certificates Safety Deposit Box Stock Certificates Term and Bond Certificates

Other

DATE:______________

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Insurance Certificates and Documents Indicate location of items ITEMS Life Insurance

SELF

Death Benefits Property Insurance

Health Insurance Auto, Boat, Recreational Vehicle

Other

ITEMS Life Insurance

SPOUSE

Death Benefits Property Insurance

Health Insurance Auto, Boat, Recreational Vehicle Other

DATE: _____________

Part Two Section Two

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STATEMENT OF ASSETS, LIABILITIES AND INCOME The Statement of Assets and Liabilities that follows is intended as a guide only. You can get other samples from your accountant, bank, credit union, financial advisor, lawyer or trust company. You may need to add additional pages to cover your personal circumstances.

Completing the Assets and Liabilities Statement 1. General Instructions: Remember to date your documents in order for the executor of your estate to know how recent the information is. Periodic updating is recommended for both you and your spouse.

2. Assets: Several categories of assets are listed. Fill in as necessary. Remember that this list is not exhaustive; you may want to add other pages of assets if the categories are not listed.

3. Liabilities: List here all debts and their approximate amounts.

4. Income: Include all sources of current income such as pensions, CPP, OAS, GIS, RRIF payments, annuities, investment income (interest and dividends paid to you), rent and employment income.

NOTE: All monetary amounts in the following tables are shown in whole dollars.

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ASSETS AND LIABILITIES STATEMENT YOUR ASSETS Real Estate: Principal Residence: Street Address: ______________________________________________________________ City/Town: _______________________________ Prov/Terr: ________ Post Code: ________ Name on Title: _______________________________________________________________ Acquisition Date: __________ Acquisition cost: ____________ Current Market Value _______________________ Date Valued: ____________ Other properties including land: Street Address: ______________________________________________________________ City/Town:_______________________________ Prov/Terr: _______ Post Code: ________ Name on Title: ______________________________________________________________ Acquisition Date: __________ Acquisition cost: ____________ Current Market Value _______________________ Date Valued: ____________ Rented to: ___________________________________________ Rent: ________________ Street Address: ______________________________________________________________ City/Town: ______________________________ Prov/Terr: ________ Post Code: ________ Name on Title: _______________________________________________________________ Acquisition Date: __________ Acquisition cost: ____________ Current Market Value: _______________________ Date Valued: ____________ Rented to: ___________________________________________ Rent _________________

DATE: _____________

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Automobiles, Boats and Recreational Vehicles: Description

Ownership

Value

Purchase Date

1 2 3 4 5 6

Investments: Insurance Policies, RRSPs, Bonds, Securities, Shares: Shares

Description

Ownership

Purchase

Value

Date

1 2 3 4 5 6

Money on Deposit: Bank/Credit Union/Trust Company (Include address)

Account #

Amount

1. 2. 3. 4.

DATE: _____________

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Loans to Others Needing Repayment Money Lent To

Amount

Notes

1 2 3

Antiques, Computers, Furniture, Household Goods, Jewelry, Paintings Description

Value

Beneficiary

Value

Beneficiary

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15

Other Assets (Coin and Stamp Collections, ETC Description 1 2 3

TOTAL VALUE OF ASSETS: _____________________

DATE: _____________

Part Two Section Two

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YOUR LIABILITIES Mortgages: Institution (Include address)

Amount

Life Insured?

Amount

Life Insured?

1. 2. 3. 4.

Credit Cards Institution

Card #

1 2 3 4 5 6 7

Other Money Owed Money Borrowed From:

Amount

Notes

1 2 3

Income Tax Owed (details)

DATE: _____________

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Loans Payable:

Institution

Loan #

Amount

Life Insured?

1 2 3 4

TOTAL VALUE OF LIABILITIES: _____________________

YOUR INC0ME STATEMENT Include all sources of current income, CPP, OAS, GIS, RRIFs, annuities, investment income (interest and dividends paid to you), rent and employment income. SOURCE

AMOUNT

ID NO

BENEFICIARY

1 2 3 4 5 6 7 8 9 10

DATE: _____________

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ASSETS AND LIABILITIES STATEMENT SPOUSE’S ASSETS Real Estate: Principal Residence: Street Address: ______________________________________________________________ City/Town: _______________________________ Prov/Terr: ________ Post Code: ________ Name on Title: _______________________________________________________________ Acquisition Date: __________ Acquisition cost: ____________ Current Market Value _______________________ Date Valued: ____________ Other properties including land: Street Address: ______________________________________________________________ City/Town: _______________________________ Prov/Terr: _______ Post Code: ________ Name on Title: _______________________________________________________________ Acquisition Date: __________ Acquisition cost: ____________ Current Market Value: _______________________ Date Valued: ____________ Rented to: ___________________________________________ Rent: ________________ Street Address: ______________________________________________________________ City/Town: _______________________________ Prov/Terr: ________ Post Code: ________ Name on Title: _______________________________________________________________ Acquisition Date: __________ Acquisition cost: ____________ Current Market Value _______________________ Date Valued: ____________ Rented to: ___________________________________________ Rent _________________

DATE: _____________

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Automobiles, Boats and Recreational Vehicles: DESCRIPTION

OWNERSHIP

VALUE

PURCHASE DATE

OWNERSHIP

VALUE

PURCHASE DATE

1 2 3 4 5 6

Investments: Insurance Policies, RRSPs, Bonds, Securities, Shares

DESCRIPTION

1 2 3 4 5 6

Money on deposit: Bank/Credit Union/Trust Company (Include address)

Account #

Amount

1. 2. 3. 4.

DATE: _____________

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Loans to Others Needing Repayment Money Lent To:

Amount:

Notes:

1 2 3

Antiques, Computers, Furniture, Household Goods, Jewelry, Paintings Description

Value

Beneficiary

Value

Beneficiary

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15

Other Assets (Coin and Stamp Collections, ETC Description 1 2 3

TOTAL VALUE OF ASSETS: _____________________

DATE: _____________

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SPOUSE’S LIABILITIES Mortgages: Institution (Include address)

Amount

Life Insured?

Amount

Life Insured?

1. 2. 3. 4.

Credit Cards Institution

Card #

1 2 3 4 5 6 7

Other Money Owed Money Borrowed From:

Amount:

Notes:

1 2 3

Income Tax Owed (details)

DATE: _____________

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Loans Payable:

Institution

Loan #

Amount

Life Insured?

1 2 3 4

TOTAL VALUE OF LIABILITIES: _____________________

SPOUSE’S INC0ME STATEMENT Include all sources of current income, CPP/QPP, OAS, GIS, RRIFs, annuities, investment income (interest and dividends paid to you), rent and employment income. SOURCE

AMOUNT

ID NO

BENEFICIARY

1 2 3 4 5 6 7 8 9 10

SAVE

DATE: _____________

Part Two Section Two

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SECTION THREE PROVIDING FOR YOUR FAMILY An objective of estate planning is to provide adequately for your family. Achieving that goal requires you to perform two exercises. The first is to evaluate your estate with a view to finding out what can be done now to maximize the benefit your family will receive from it. In the first section, we provide a guide designed to help you and your family understand your financial situation. We give some suggestions regarding how you can assess the arrangements you have already made and things you might wish to do now in order to improve those arrangements. Next, you estimate the income your family will receive after your death, determine if that amount is adequate for maintaining the same standard of living as now enjoyed, and if it is not, what you can do to correct that situation.

EVALUATING YOUR ESTATE You will now review information gathered so far and take some steps to avoid difficulties for your family after your death. This is the place where you should review your will, if you have one, or decide if you need to have one. We note some areas that could potentially cause problems with your estate, and suggest possible improvements. Below are two checklists of things you should consider relating to the items documented: Under assessment we note some suggestions regarding the evaluation of your assets and liabilities as well as some other important considerations. The value of your assets and liabilities should be included in the statement of assets and liabilities. You will need these evaluations later on when you assess the adequacy of the provisions for your survivors. Under means of transfer we make some suggestions for reviewing procedures for transferring assets after death.

Each individual’s circumstances are different and this workbook cannot replace professional services you may need. If you have doubts or questions respecting accounting, bequests, investments, legal matters, taxation, wills or other issues that may affect you, we strongly encourage you to seek advice from the appropriate professionals. It is always wise and often necessary to seek appropriate professional advice.

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ASSETS AND LIABILITIES REVIEW ITEM

ASSESSMENT

MEANS OF TRANSFER

Bank Accounts

Not important if you only keep Consider joint accounts with your spouse. monthly spending amounts in the Review Joint Accounts – a word of caution bank and keep savings in term in Part One. certificates and bonds. Record the minimum balance.

Death Benefits

Note the value of the death benefit. Verify who the beneficiary is and note Review the section on death benefits the name of that person. in Part Three.

Estimate the current value of these Consider joint ownership with your Deeds and assets. Consider asking a real estate spouse. Before any change, check income Ownership agent to give you a conservative tax implications. evaluation. Check to ensure your family is Verify that your spouse is eligible for Health continued coverage under your plan. Insurance covered. Determine Life Insurance life policy.

the

value

of

each Ensure that the beneficiary is the person you want as beneficiary.

Loans

Note the amount remaining to be If your spouse co-signed on the loan, the paid now. Indicate if each loan is life survivor assumes the payment schedule. If not, the estate will have to settle any insured and the amount insured. outstanding amounts not insured.

Mutual Funds

Use the current value of the portfolio. Name your spouse as co-owner or beneficiary. Check income tax implications before making any changes.

Property Insurance

Find out if your spouse can be a named insured or if your spouse can assume the policies. If not make a note for immediate action by your executor.

RRSPs

Use the value from the most recent You and your spouse should list one another as beneficiaries. statements.

Safety Deposit Box

If your spouse does not have Consider giving your spouse access. Check access, he/she may have to wait for with the institution keeping the box. A general power of attorney will not give a while to access it. access to a safety deposit box.

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ITEM Stocks

ASSESSMENT

MEANS OF TRANSFER

Use the current value of your Check with the broker to see if you can portfolio. name your spouse as co-owner or beneficiary. Before making changes, check on income tax implications.

Use purchase price. Add interest if Check with the broker to see if you can Term are compound interest name your spouse as co-owner or Certificates these beneficiary. Before making changes, check instruments. & Bonds on income tax implications. Other

If you have informal debts or some things belonging to someone else, note them here.

CURRENT INCOME REVIEW INCOME

ASSESSMENT

MEANS OF TRANSFER

Pensions

Calculate your present benefits and Entitlements to survivor benefits may be your survivor benefits for each open to question if you are in a commonlaw relationship, or if you have had a pension. previous marriage. The can be implications if you married after retirement. Establish what survivor rights exist for each pension.

RRIFs

Note any survivor value to your Ensure that your spouse or other eligible spouse or estate. survivor is shown as beneficiary.

Annuities

Note any survivor value to your Ensure that your spouse or other eligible spouse or estate. survivor is shown as beneficiary.

Other Income

Note which other incomes continue after your death.

will

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ASSESSING THE SURVIVOR’S INCOME To perform this assessment, you will need to do two things. First, calculate your joint incomes and expenditures now. Then make an estimate of each other's survivor's income and expenditures. You can then evaluate whether or not the survivor's income will be adequate. While you may have more than one dependant, for ease of use, this section is written as if we are addressing a couple. Right now you are living together. Each contributes some income and causes some expenses. If one of you should die, both expenses and income w i l l change. Will the survivor's income be sufficient? In making this assessment, you are going to have to know your income and expenses now and estimate your future income and expenses if either of you dies. You have the ability to do this fairly easily from the information you have collected so far. The one additional item you will have to handle is how to convert capital to income. Capital, perhaps realized after selling a house, will be used to buy things, or to buy a stream of income into the future. For instance, most people who have built up RRSPs know that after age 71, they will have to start drawing the money out as an annuity or stream of monthly payments, or RRlFs, which is basically a planned withdrawal of the RRSP in several stages. In either case, you are converting a lump of money into a stream of income into the future.

If a large portion of your income comes from investments now, you may need to consult a professional investment advisor.

INCOME AND EXPENSE CALCULATIONS Your income tax forms have most of the information you need to estimate your current income and expenditures. Use them to fill out the "Self ' and "Spouse" columns of the forms below. Add the "Self ' and "Spouse" columns to obtain the "Both" column. Refer to your Assets, Liabilities, and Income statements in Part Two, Section One. Income comes from many sources such as employment, pensions, etc. Enter the gross value before taxes and deductions. If you are a pensioner, you may be spending out of savings like RRSPs or bank accounts. Suppose you sold your house and rented an apartment last year. Show the net revenue from the sale of the house under sale of assets (i.e. part of income), but if most of the money went into the bank or was invested elsewhere, enter it in lines 15 or 16. In the end your income plus withdrawals from savings minus your increase in savings equals your income before taxes for the last tax year. On line 20 of the "Income Assessment Form" under the "Both" column, you will have determined your "Disposable Income". This is the income you lived on. This amount should equal total expenditures in the "Expenditures Assessment Form". It likely does not because it is very difficult to account for all expenditures by category. Adjust the amount of "Other expenditures" so that the "Total Expenditures" equals your "Disposable Income". Next you should fill in the items in the "Survivor" columns. Here you will need to estimate some items, however, many income and expenditures items will be the same as now. Refer to Part 4 of this workbook "Useful Information" to help determine the amounts of survivor benefits.

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INCOME ASSESSMENT

ITEM

SELF

SPOUSE

BOTH

YOU AS SURVIVOR

SPOUSE AS SURVIVOR

INCOME 1. 2. 3. 4. 5. 6. 7. 8. 9.

Annuity CPP Employment GIS OAS Pension Pension RRIF Sub-total

WITHDRAWALS FROM SAVINGS 10. 11. 12. 13.

Bank Account Decrease RRSP Sale of Assets Sub-total

INCREASE TO SAVINGS 14. Bank Account Increase 15. Other investment Increase 16. RRSP Contribution 17. Sub-total 18. GROSS INCOME (Line 9 + Line 13 – Line 17) 19. Income Tax 20. DISPOSABLE INCOME (Line 18 – Line 19)

DATE _____________

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MONTHLY EXPENDITURE ASSESSMENT ITEM

SELF

SPOUSE

BOTH

YOU AS SURVIVOR

SPOUSE AS SURVIVOR

1. Clothing 2. Donations and Gifts 3. Food 4. Health (incl. Drugs) 5. Hobby 6. Auto Insurance 7. Life Insurance 8. Property Insurance 9. Property Taxes 10. Recreation 11. Shelter Costs 12. Support for Others 13. Transportation 14. Unusual Expenses 15. Other Expenses 16. Other Expenses 17. Other Expenses 18 Total Expenses (Add lines 1 to 17)

SAVE

DATE ______________

The form on next page looks at your family capital. You are looking at capital that can easily be translated into income because you don't live off capital. Once you are older, you live off the income it generates. You want to estimate the income value of capital. In the "Family Capital Assessment Form'', list only those capital assets that will be available to your survivor and which your survivor would want to sell in order to provide current income. For example, if you have a coin collection that has been promised to a grandchild, do not include it. If your survivor intends to live in your existing home, do not include it. Do not include RRlFs since this is an income item. Do not include capital items that you are reducing in value to provide income included in the "Income Assessment Form" on the previous page. Do include under "Savings" the proceeds of any insurance policy available to your survivor on your death. The idea in this form is to estimate realistic values for your assets. Our recommendation is to spend some time to establish a realistic value right now and to update it regularly, at least annually.

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FAMILY CAPITAL ASSESSMENT FINANCIAL Equities GICs RRSPs Savings

1. 2. 3. 4. 5. 6. 7. 8. Sub-total FINANCIAL 9. Residence 10. Cottage 11. Other Real Estate 12. 13. 14. 15. Sub-total SPECIAL ASSETS 16. Antiques 17. Collections 18. 19. 20. 21. Sub-total 22. TOTAL CAPITAL ASSETS

SELF

SPOUSE

BOTH

SELF

SPOUSE

BOTH

SELF

SPOUSE

BOTH

(Add Lines 8, 15 & 21)

PRINT

DATE ________________

SAVE

The total capital assets listed above would be available to your spouse to increase his or her income from all other sources. How much should be added to the "Withdrawal from Savings" section for your survivor in the "Income Assessment Form"? If the amount of these withdrawals is critical for your survivor's welfare, you should consult a financial advisor. Generally speaking, a single survivor will need disposable income somewhere in the range of 70% to 80% of your current joint disposable income to maintain his or her current standard of living. One way of increasing your survivor's income is to save now so that he or she will have more income later. For example, you could invest in a mutual fund or other savings instrument. You could buy a life insurance policy with your survivor as beneficiary - life insurance payments are generally tax-free. There are other ways of providing more income for your spouse.

If you need to pursue this avenue, you should consult a financial advisor. Part Three

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PART FOUR USEFUL INFORMATION Canada Pension Plan Surviving Spouse's Pension This is a monthly pension paid to the surviving spouse of a deceased contributor: The amount of the survivor pension depends on how much, and for how long, the contributor paid into the plan, the spouse's age at the time of the contributor's death and whether the spouse is also receiving a CPP disability or retirement pension.

Surviving Spouse Profile Age 65 or older

Benefit Amount

60 per cent of the contributor's calculated retirement pension*, if the surviving spouse or common-law partner is not receiving other CPP benefits. For those who do receive a CPP benefit, the maximum monthly benefit paid in 2014 is $623.**

Age 45 to 64 or A flat rate portion under age 45 plus and disabled (according to 37.5 per cent of the contributor's retirement pension, if the surviving CPP legislation) spouse or common-law partner is not receiving other CPP benefits or raising a dependent child Under age 45 As above (age 45 to 64) and minus not disabled (according to CPP legislation) 1/120 for each month the spouse or common-law partner is under the and age of 45 at the time of the contributor's death. not raising a dependent child Under age 35 and not paid until the spouse or common-law partner reaches age 65 or not disabled (according to CPP becomes disabled legislation) and not raising a dependent child * Calculated retirement pension: The amount that would be paid if the pensioner were 65 when the pension started ** The terms and benefits are adjusted from time to time. Check with Services Canada to get up-to-date

information.

The surviving spouse's pension is paid to the person who, at the time of death, is the legal or common-law spouse of the deceased contributor. If there is no cohabiting common-law spouse, a separated legal spouse may qualify for this benefit. For a survivor pension to be paid, the contributor must have contributed to the plan for at least three years. If the contributor's "contributory period" is longer than 9 years, he/she must have contributed in:

• one third of the calendar years in the contributory period, or • 10 calendar years, whichever is less.

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Maximum Combined Own and Survivor Pension If the surviving spouse is receiving a CPP retirement or disability pension, he or she may also receive a CPP survivor pension. However, there is a limit on the amount of that survivor pension. For a survivor age 65 or older, the CPP/QPP survivor pension cannot be greater than an amount, which when added to the amount of the survivor's own CPP pension if he or she were age 65 when that pension started would equal the maximum retirement pension for the year that either the survivor or own pension started, whichever is later. For a survivor under age 65, the survivor pension consists of a flat rate portion plus a variable portion equal to 37.5% of the contributor's pension. If the survivor started his or her own pension before age 65, the variable portion cannot be greater than an amount, which when added to the amount of the survivor's own pension if he or she were age 65 when that pension started, would equal the maximum retirement pension for the year that either the survivor or own pension started, whichever is later. When the survivor reaches age 65, the formula described in the previous paragraph applies and can result in the survivor pension increasing or decreasing. For More Information

For more information, call the Canada Pension Plan office or contact Service Canada. Children's or Orphan's Benefit The CPP children's benefit is paid to the natural or adopted child of the disabled or deceased contributor, or a child in the care and control of the deceased contributor at the time of death. The child must be either under age 18, or between the ages of 18 and 25 and in full-time attendance at a recognized institution. A child may get 2 benefits if both parents paid into CPP and each parent is either disabled according to CPP rules or deceased. Death Benefit This is a one-time payment to or on behalf of, the estate of a deceased contributor, with priority given to paying funeral expenses. The contributor must have contributed to the plan for at least three years. If the contributor's "contributory period" is longer than 9 years, he/she must have contributed in: • one third of the calendar years in the contributory period, or • 10 calendar years, whichever is less. Under the Canada Pension Plan, the amount depends on how much, and for how long, the contributor paid into the plan. The amount is equal to six months' worth of the contributor's pension or the pension that would be payable if the contributor were age 65 at time of death, up to a maximum of $2,500.

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Old Age Security The Old Age Security (OAS) pension is a monthly benefit paid to all persons 65 years of age and over who satisfy certain basic residence requirements. Persons 65 or older are eligible to receive the OAS benefit upon application, if they have resided in Canada for at least 40 years after age 18. Persons who have resided in Canada between 10 and 40 years are eligible to receive a partial benefit. OAS benefits paid in a year are based on a person's income as reported on their prior year's tax return. Therefore, adjustments are made with a year's delay, if necessary. OAS recipients who are no longer resident in Canada may have to file a statement of their worldwide income to continue to receive OAS benefits. Those who have lived abroad for some time may still qualify for an OAS benefit since Canada has social security agreements with many countries. If you have lived in one of these countries or contributed to its social security system, you may qualify for a pension from that country, from Canada, or from both countries. OAS payments are indexed to the Consumer Price Index every three months: in January, April, July, and October. How to apply Old Age Security cannot be paid until an application has been made and approved. Application forms are available at all Canada Post offices in Canada, and at all Service Canada offices. You should apply at least six months before becoming eligible for the pension. Payment of the pension normally begins a month after you have met the age and residence requirements. In the case of late application, payment may be dated back for a maximum of five years. Death of an OAS Recipient The Income Security Programs, through Service Canada, must be informed of your spouse's death for OAS purposes. Required Information • • • •

The full name and the Social Security Number (SIN #) the date of birth and the date of death the previous address the name and address of the person responsible for handling the deceased's affairs (or the of kin)

Monthly Allowance Entitlement to a Monthly Allowance If you are between 60 and 64, married to an Old Age Security recipient or widowed, you may be entitled to a monthly allowance if you have lived in Canada for at least 10 years after age 18. Payment of the allowance is based on the combined income of the pensioner and spouse and on the spouse's years of residence. It is not paid if the spouse is separated from the pensioner. Persons who are living in a common-law relationship may qualify for a Monthly Allowance if they have been living together and publicly representing themselves as husband and wife for at least one year before making an application.

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Guaranteed Income Supplement Entitlement to the Guaranteed Income Supplement (GIS) To qualify for the GIS, you must be receiving the Old Age Security Pension; you must be resident in Canada and your income must be below the qualifying level. You do not have to reapply for this benefit each year if you file your income tax return by 30 April. Canada Revenue Agency will give Service Canada the necessary income information. If you do not file a tax return, or if Service Canada needs more information, it will send you a renewal form that you must complete and return as soon as you have the necessary income information. This entitlement is income tested and based on the income of both spouses. Involuntary Separations If you or your spouse or common-law partner are separated for reasons beyond your control (for example, if one of you has to live in a hospital or nursing home), you can each be considered as a single person if that will give you a higher monthly GIS payment.

For more information:

Information dealing with the CPP Death Benefit, the Surviving Spouse Benefit, the Disability Benefit, the Orphan's Benefit, the Credit Splitting upon Divorce or Separation, Old Age Security, the Monthly Allowance and the Guaranteed Income Supplement is available from Service Canada offices and Web site: www.servicecanada.gc.ca

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Birth, Marriage and Death Certificates Sources British Columbia Vital Statistics Agency P.O. Box 9657, Station: Prov. Govt Victoria, BC V8W 9P3 Tel: 250-952-2681; toll free: 1-888-876-1633 Fax: 250-952-2527 www.vs.gov.bc.ca/ Alberta Alberta Registry, Vital Statistics Service Alberta P.O. Box 2023 Edmonton, AB T5J 4W7 Tel: 780-427-7013 Toll free: 1-877-401-4088 www.governmentservices.gov.ab.ca/vs/ Saskatchewan Vital Statistics, Information Services Corporation of Saskatchewan 1301 - 1st Avenue Regina, SK S4R 8H2 Toll free: 1-866-275-4721 Fax: 306-787-2288 E-mail: [email protected] www.isc.ca Manitoba Vital Statistics Agency 254 Portage A venue Winnipeg, l\1B R3C OB6 Tel: 204-945-3701; toll free: 1-866-949-9296 (within Man. only) Fax: 204-948-3128 E-mail: [email protected] www.gov.mb.ca Ontario Vital Statistics P.O. Box 4600 189 Red River Road Thunder Bay, ON P7B 6L8 Tel: 416-325-8305; toll free: 1-800-461-2156 Fax: 1-807-343-7459 http://www.vitalcertificates.ca/ontario/

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Quebec Direction de l'etat civil (Quebec office) 2535, boulevard Laurier Quebec, QC GlV 5C5 Tel.: 418-643-3900 Fax: 418-646-3255 Direction de l'etat civil (Montreal Office) 2050, rue De Bleury Montreal, QC H3A 2J5 Tel.: 514-864-3900, Fax: 514-864-4563 Elsewhere in QC, toll free: 1-800-567-3900 E-mail: [email protected] www.etatcivil.gouv.qc.ca New Brunswick Service New Brunswick Vital Statistics P.O. Box 1998 Fredericton, NB E3B 5G4 Tel.: 506-453-2385; toll free: 1-888-762-8600 Fax: 506-453-3245 E-mail: [email protected] www.snb.ca Nova Scotia Vital Statistics P.O. Box 157 Halifax, NS B3J 2M9 Tel.: 902-424-4381 or within NS; toll free: 1-877-848-2578 Fax:902-424-0678 E-mail: [email protected] www.gov.ns.ca/snsmr/vstat/ Prince Edward Island Vital Statistics Division Department of Health 35 Douses Road P.O. Box 3000 Monteague, PE COA lRO Tel.: 902- 838-0880; toll free: 1-877-320-1253 Fax: 902-838-0883 www.gov.pe.ca/vitalstatistics/

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Newfoundland & Labrador Vital Statistics Division Dept. of Government Services P.O. Box 8700 ·' 5 Mews Place St. John's, NL AlB 4J6 Tel.: 709-729-3308 Fax: 709-729-0946 E-mail: [email protected] www.gs.gov.nl.ca/birth/ Yukon Vital Statistics Box2703 Whitehouse, YK YlA 2C6 Tel.: 867-667-5207; toll Free in Yukon only: 1-800-661-0408 ext. 5207 Fax: 867-393-6486 . E-mail: [email protected] www.hss.gov.yk.ca/programs/vitalstats/ Northwest Territories Vital Statistics Department of Health and Social Services 107 MacKenzie Rd, Room 205 Bag 9, Inuvik, NT XOE OTO Tel: 867-777-7400; toll free: 1-800-661-0830 Fax: 867-777-3197 E-mail: [email protected] www.hlthss.gov.nt.ca/english/services/vital_statistics/ Nunavut Vital Statistics Health & Social Services P.O. Bag 3, Rankin Inlet, NU XOC OGO Tel: 867-645-2171; toll free: 1-800-661-0833 Fax: 867-645-8092 www.gov.nu.ca/english

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