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Trust and Estate Planning

Estate planning assures that you have taken the necessary steps to protect your assets and guarantees your legacy is distributed according to your wishes.  Our advisors are here to help you with the planning process, providing you with peace of mind, knowing your loved ones will be taken care of in the event you are no longer able.

Wills and Powers of Attorney

Over 50 percent of Canadians do not have a Will or Power of Attorney.  Some may think they are too young, have minimal assets, or little money to justify the legal fees associated with drawing up a Will and Powers of Attorney.  One needs to consider the consequences of not having these documents in place beforehand.  The fees your loved ones must pay, for the courts to appoint someone as your estate trustee (also referred to as executor), may be more expensive than the legal fees paid now to prepare these documents.  It can take months to get court approval for an estate trustee, while in the meantime your money and assets will be frozen.  How will this affect your loved ones?  What if the courts appoint someone as estate trustee of your estate, or guardian of your children, whom you would not have personally chosen?  In the case of death, the beneficiaries of your estate assets will be determined under the Ontario Succession Law Reform Act.  Your intended loved ones may not be entitled to your entire estate.  Furthermore, family members, whom you would not want to inherit part of your estate assets, could end up with a share.

We recommend that no matter your age or circumstance, you make it a priority to have a Will and Powers of Attorney drawn up, sooner than later.  If you need assistance in getting started with the planning process, prior to meeting with your lawyer, contact Betty Anne Flynn, Certified Financial Planner, for advice. 

More information on the importance of a Will or Power of Attorney can be found by clicking on the links.

Selecting the Right Estate Trustee/Executor

You’ve spent your lifetime acquiring and safeguarding assets.  Naming a family member or friend as executor may not always be the best choice.  In certain circumstances, we recommend using the services of a corporate executor.  Why?  Because dealing with complicated duties, probate matters, claims and debts can be overwhelming.  The list of duties is long and there is the potential for personal liability that can be incurred by executors.  With the help of our partner, Concentra Trust, you can name your executor, plan your estate and ensure your assets are distributed according to your wishes.    Concentra can handle all of that, in an impartial, efficient and caring manner.

Estate Administration

Being named as executor is a serious commitment.  It can be a new and challenging experience, often charged with emotion and complicated by the process of grieving.  In addition, there are personal liabilities that come with the role of estate trustee.  If you’ve been appointed as estate trustee it’s important to ensure you execute your duties with care and due diligence along with complete knowledge and understanding of the process.  Where do you begin?  Concentra Trust can offer executors a little or a lot of help, whatever’s needed at the time.  Their team is professional, compassionate and understanding.  Together with you, they will focus on the things that matter most.  Their program is called Executor EASE.

What is Executor EASE?

If you don’t have the time, expertise or desire to fulfill your role in the administration of an estate, our partner, Concentra Trust, is here to offer their service through Executor EASE.  Working directly with the executor, Concentra customizes their solutions to fit the executor’s needs through a menu-based administration service.  The flexibility allows executors to pick only the services they need; that may include preparation of the probate application or assistance with all executor duties.  Concentra’s team works with estates of all sizes and can be retained at any time during the estate settlement process. 

How can I access Executor EASE? 

Email: bettyanne@membersavings.ca to receive a brochure or contact Concentra Financial directly:

Call: 1-800-788-6311 #1888 or Email: executorease@concentra.ca

Home, Auto, Family, Leisure or Retirement Planning

At Member Savings we can sit down with you and offer advice on your Home, Auto, Family, Leisure, or Retirement related events. Or you can use our Fast-Access Life Events Planner to access the calculators directly! Browse over 30 interactive calculators and dynamic reports to help you assess your current financial situation and remember, we are here to help you come up with your plan.

Find tools to show the home you can afford, compare mortgage terms and review finance options. Find out what type of vehicle you can afford. Depending on your budget and lifestyle, compare leasing vs buying a car, new or used, luxury or more practical.

Going on vacation, getting married or having children, the Life Events Planner can also help with unexpected events helping you re-examine your financial situation. And of course, retirement advice. Check out the calculators and when you are ready to make a plan, come talk to us.

Life Events Planner

Choose from over 30 calculators

Do You Want To Be A Millionaire

The Good Life

You deserve the good life when work is done. But you’ll need a plan to make it happen. See what you’ll need to make financial freedom your reality! Check out the Cool Million calculator, to see for yourself how the power of regular investing and compound interest can make you a millionaire!

Cool Million Calculator

Do you want to be a millionaire?

The Million Dollar Plan

But don’t stop there! Now you need a plan, and more importantly, you need to execute that plan. Contact our Certified Financial Planner, Betty Anne Flynn, for FREE financial advice to assist you in planning for your life goals. Talk to us!

Betty Anne Flynn
Investment Specialist
647.344.8446
bettyanne@membersavings.ca