Category: Estate Planning

The Worst Estate Planning Advice: 7 Myths to Avoid

Nancy Boisvert Estate Planning , , , , , , , , , , , , , , , , , , , , , ,
The Worst Estate Planning Advice: 7 Myths to Avoid

The Worst Estate Planning Advice of All Time

In recent years, I’ve heard some of the worst estate planning advice that people have been given. Because estate planning can feel complicated, people often latch onto simple-sounding advice. Unfortunately, “simple” doesn’t always mean good. In fact, some of the worst estate planning advice I’ve ever heard gets passed around as though it were gospel. Unfortunately, I’ve also seen families living with the fallout when someone actually followed it.

Estate planning isn’t about fancy documents drafted by lawyers or accountants. It’s about making sure your loved ones are protected, your wishes are respected, and your legacy is handled with dignity. Bad advice can derail all of that.

While some of these tips might sound convenient or even clever, following them can leave behind chaos, conflict, and costs for the very people you were trying to protect. Let’s look at seven of the worst estate planning myths and why they can be so dangerous (and why you should run the other way if you hear them).

1. “Just put your child’s name on the house and accounts — it’s easier.”

On the surface, this sounds practical. If your child’s name is on your house title or your bank accounts, everything just “automatically” goes to them when you die, right? No courts, no probate, no fuss.

The reality is much riskier. Adding a child as joint owner creates an immediate legal ownership interest. That means if they get divorced, declare bankruptcy, or are sued, your assets may be dragged into their financial mess. On top of that, it can create huge capital gains tax issues if the property isn’t your child’s principal residence.

Even worse, it can cause family discord. If you have more than one child but only one is named jointly, the others may be disinherited — sparking resentment and even lawsuits.

Case in Point:
A couple added their daughter to their house title to “make things easier.” When she went through a divorce, her estranged husband claimed part of her share of the home. The parents never imagined their lifelong asset would end up in family court — but it did.

2. “A will is all you need.”

A will is important, but it’s not the whole story. A will only comes into effect after death.  It does nothing to protect you or your loved ones if you become incapacitated. Without an enduring power of attorney and a personal directive, your family may need to apply to court just to pay your bills or make medical decisions.

Wills also don’t bypass probate. In fact, because wills must usually go through probate, they become part of the public record. That means anyone can request a copy, which may not be ideal if you’d prefer to keep family or financial details private.

And finally, a will doesn’t automatically keep things simple. Executors still need to settle debts, file taxes, and get clearance from the Canada Revenue Agency before distributing assets.

A will is a cornerstone, but estate planning is the entire house — it should cover incapacity, tax efficiency, and privacy as well.

💡Estate planning is more than one document. With my Legacy Planning Essentials Package, you’ll have the key tools in place — not just a will, but also enduring powers of attorney and personal directives — so your family isn’t left scrambling if something happens.

3. “You don’t need a will at all — the government will sort it out.”

Technically true.  Yes, if you die intestate (without a will), laws in your jurisdiction will dictate who inherits your estate. But the government doesn’t know your relationships, your promises, or your priorities.

Under intestacy laws, your spouse and children usually split the estate, but what if you’re in a blended family? What if you wanted to leave something to a sibling, a friend, or a charity? Without a will, those wishes are ignored.

The process is also slower and costlier. Someone must apply to the court to be appointed administrator, which can cause disputes if multiple people step forward. And in the meantime, bills go unpaid, property sits, and assets may lose value.

Bottom line: skipping a will doesn’t save time or money — it creates more stress and expense for your family.

4. “Planning is a one-and-done job. No need to review or update.”

This is one of the most common and costly myths. Life changes, and things like divorces, remarriages, births, deaths, changes in tax laws, or even moving provinces, all affect your estate plan.

An outdated will might name executors who are deceased or unwilling, leave assets to people who no longer need or want them, or fail to reflect your current wishes. Outdated beneficiary designations can even override your will, leaving accounts to an ex-spouse or estranged relative.

Estate Planning Tip:
Review your plan every 3–5 years, or after any major life event. A quick update today can prevent years of headaches for your executor later.

Estate planning isn’t “set it and forget it.” It’s a living process that needs maintenance, just like your financial plan.

5. “Trusts are only for the wealthy.”

This outdated idea prevents many families from using tools that could genuinely help them. Trusts aren’t just for billionaires with offshore accounts . In Canada and the US, everyday families benefit from them all the time.

A trust can:

  • Protect a child with a disability without jeopardizing government benefits (e.g., a Henson trust).
  • Allow a surviving spouse to use assets during their lifetime while ensuring children from a first marriage inherit later.
  • Reduce probate fees or taxes by keeping certain assets out of the estate.
  • Protect assets from creditors or spendthrift beneficiaries.

While not everyone needs a trust, dismissing them outright as “too fancy” or “too expensive” can mean missing out on solutions tailored to your family’s needs. Be sure to obtain proper advice from a legal professional to see if a trust is appropriate for your circumstances.

💡 The right planning tools aren’t just for the wealthy. My Comprehensive Legacy Package helps you explore whether a trust — or other strategies — could simplify your estate, protect your heirs, and minimize costs. See what’s included.

6. “You have to name your family as beneficiaries.”

Short answer: No, you don’t. Many people feel pressured to leave everything to their children or other relatives, even when that doesn’t reflect their values, relationships, or circumstances. In truth, you can choose who benefits from your estate — family, friends, charities, or even a trust for a beloved pet.

Forcing yourself into the “everything to the kids” model can actually cause conflict. What if your children don’t get along? What if one is better suited to inherit the family cabin while another would prefer financial assets?

Good planning is about aligning your estate with your values and making decisions that reduce, not inflame, family tension.

7. “Estate planning won’t save you taxes or keep things out of probate — so why bother?”

This one is particularly dangerous because it convinces people that planning doesn’t matter. The truth is, prudent estate planning can save both money and time.

  • Properly designating beneficiaries on registered accounts like RRSPs, RRIFs, or TFSAs can transfer those assets directly, bypassing probate altogether.
  • Using trusts, joint partner strategies, or gifting can help minimize taxes and preserve more wealth for your beneficiaries.
  • Planning can also prevent your will (and the details of your assets) from becoming entirely part of the public record, since assets that bypass probate remain private.

Without these strategies, your estate may face unnecessary probate fees, higher taxes, and public scrutiny.

Story Spotlight:
One family assumed nothing could be done about probate. After updating their plan with proper beneficiary designations, they not only stood to save thousands in probate fees but also kept several accounts private, sparing their heirs both cost and unwanted attention.

Wrapping It Up…

The worst advice usually has one thing in common: it sounds easy. “Just put your child’s name on the title.” “Just make a will and you’re done.” “Don’t bother, the government will sort it out.”

But shortcuts in estate planning rarely save time or money. More often, they leave behind delays, disputes, and higher costs for your loved ones.

The best advice? Build a plan that:

  • Covers both incapacity and death.
  • Minimizes taxes and probate wherever possible.
  • Reflects your real wishes (not assumptions).
  • Is reviewed and updated regularly.

Estate planning isn’t about making things complicated — it’s about making things clear. A thoughtful plan today saves your family heartache tomorrow.

Want to ensure your estate avoids the “worst advice hall of fame”? Let’s connect and talk about how to design a plan that truly works for you and your loved ones.

At NEXsteps, we help you plan, prepare, and protect — so your family isn’t left sorting out the pieces. Reach out today to get started on a plan that works for you.

Visit our services page to see how we can help.

Watch our video here, or watch on our YouTube Channel:

Prefer a podcast? Listen here!

Please send us your questions or share your comments.

Disclaimer: This content is for general information only and is not legal, financial, medical, or tax advice.

More Than Just a Will: The Hidden Dangers of DIY Estate Plans

Nancy Boisvert Estate Planning , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,
More Than Just a Will: The Hidden Dangers of DIY Estate Plans

DIY Estate Planning: Why “Doing It Yourself” Isn’t Always the Smartest Move

I certainly understand the appeal of DIY estate planning. With online templates, how-to videos, and fill-in-the-blank legal forms, it can seem like a cost-effective, efficient way to get your affairs in order. After all, why pay for professional help when you can just download a document and fill it out yourself?

But here’s the thing: estate planning is more than paperwork. It’s about strategy, timing, and understanding the implications of every decision—legal, financial, and personal. And when it’s done without the right guidance, it can create more problems than it solves.

As a Certified Executor Advisor, I help individuals and families navigate estate planning and administration. I don’t draft documents or give legal advice, but I do see what happens when well-meaning people try to handle things on their own. Often, they don’t even know what questions to ask. And one tool I’ve seen misunderstood more than once is the alter ego trust.

A Real-World Example

A family reached out recently. They were exploring options to simplify the estate of an aging parent whose memory had started to decline. The parent still owned a rental property and also had a partial interest in the family home. There were debts involved — mortgages, some outstanding taxes, repair bills — and concern about what would happen if something happened before the rental was sold.

They’d heard about alter ego trusts and wondered if that could be a simple way to protect the home, avoid probate, and keep everything out of court. They were even considering setting it up themselves using information they’d found online. This is where DIY can become dangerous.

What Is an Alter Ego Trust?

In Canada, an alter ego trust is a living trust available to individuals aged 65 and older. You can move assets into it while you’re alive, remain the sole beneficiary, and then pass those assets directly to others upon your death, without the requirement of going through probate. Want to read our earlier article about alter ego trusts?

It sounds like a great solution – and sometimes, it is. But this isn’t a plug-and-play tool. It’s a complex legal instrument, and the consequences of using it incorrectly can be serious.

What Can Go Wrong with DIY Estate Planning Involving Trusts?

When people take the do-it-yourself route, especially with something like a trust, they often overlook key legal and financial issues that a professional would catch. Here are just a few examples:

1. Capacity Is Critical

To create a valid trust, the person creating the trust must have the mental capacity to understand what they’re doing. If there’s any doubt, due to age, illness, or cognitive decline, the trust can be challenged or overturned.

In the case I mentioned, the parent’s memory issues raised red flags. Without a medical assessment and clear documentation, any disgruntled party could later argue that the trust was invalid.

2. It Won’t Eliminate Debt

There’s a misconception that trusts can magically “protect” assets from creditors. They don’t. If there are mortgages or tax debts, they can follow the assets, trust or no trust. Moving a property into a trust doesn’t make those obligations disappear. Some types of trusts (e.g., spousal, Henson trusts) may protect against future creditors or certain claims, but only if structured correctly and not set up with the intention of dodging existing debts. That’s why these must be carefully designed with legal advice.

In this situation, the rental property had not yet sold, and there were concerns about foreclosure. If the trust was seen as a last-minute effort to avoid paying creditors, it could have been subject to challenge.

3. Intent and Timing Matter

If a trust is created too close to a financial or health crisis, courts may question whether it was created voluntarily or with the proper understanding. In cases of undue influence, lack of capacity, or fraudulent intent, the trust can be contested.

Without proper legal advice, these risks are often overlooked in DIY situations.

The Hidden Cost of “Saving Money”

Yes, hiring a lawyer to draft your estate documents or trust will cost more than filling in a template. Legal fees for creating a trust might range from $2,000 to $5,000 or more, depending on complexity. And, of course, there are ongoing fees for taxes, etc.

But the cost of doing it wrong? That can include:

  • Court challenges that drag on for months or years
  • Legal fees that far exceed the original cost of doing it right
  • Delayed access to funds or property for beneficiaries
  • Broken relationships and family conflict

Worse, if your trust is declared invalid, the estate may end up going through probate anyway, defeating the very purpose of setting it up. If your will is declared invalid, you essentially die intestate, and the government will take over until and unless a family member steps up — and it may not be someone you would choose!

When a Trust Makes Sense—and When It Doesn’t

Alter ego trusts have legitimate benefits. They can:

  • Bypass probate
  • Preserve privacy
  • Provide continuity if capacity is lost

But they also come with administrative complexity, ongoing legal obligations, and tax considerations. They aren’t a substitute for a full estate plan and they certainly aren’t something to set up casually without help.

In the case I mentioned, the trust might have been a viable solution if the parent still had full capacity, if creditor risk had been addressed, and if everything was clearly documented with legal support. But without those safeguards, it could have created more problems than it solved.

The Bottom Line

DIY estate planning may save money upfront, but it can cost far more in the long run — financially, legally, and emotionally. Tools like alter ego and other trusts are powerful, but they’re also complex. They need to be used correctly, with expert guidance, and with your full situation in mind.

Need help figuring out what questions to ask?

As a Certified Executor Advisor, I help you understand the options, uncover the risks, and connect with the professionals you need to make informed, confident decisions.

If you’re considering a trust, or any estate planning tool, don’t rely on what you’ve read online or downloaded from a website. Get the right advice. Ask the right questions. Understand the full picture. For step-by-step guidance that covers far more than just documents, explore my Comprehensive Legacy & Lifestyle Planning Package — a proven way to protect your legacy and give your family peace of mind.

Visit our services page to see how we can help.

Watch our video here, or watch on our YouTube Channel:

Prefer a podcast? Listen here!

Please send us your questions or share your comments.

Disclaimer: This content is for general information only and is not legal, financial, medical, or tax advice.

Making the Emotional Side of Estate Planning Easier

Nancy Boisvert Estate Planning , , , , , , , , , , , , , , , , , , , , , , , , , , , ,
Making the Emotional Side of Estate Planning Easier

The Emotional Side of Estate Planning: Avoidance Costs More Than Action

Addressing the emotional side of estate planning is often the biggest reason people delay making a plan; not the cost, not the time, but the feelings it brings to the surface. We’d rather not talk about death or incapacity.  Talking about our mortality is tough. And yet, putting it off doesn’t make reality of the need to plan disappear.  It simply passes the weight of decision making to those you love at the worst possible time. And if no plan is in place, they may have to go to court to be able to make those decisions.

Why We Avoid the Conversation

There are lots of “reasons” we come up with to put off discussing our estate planning.  You may have heard yourself or others say:

  • “I’m healthy right now — why worry?”
  • “It’s too depressing to talk about.”
  • “My family knows what I want.”
  • “We’ll get to it… someday.”

But beneath these rationalizations are real fears.  They bring to the surface issues and concerns about decision making, conflict, or family dynamics and dysfunction. I’ve worked with people who admitted planning felt paralyzing.  Often they are worried that raising the subject might bring upheaval or discomfort to those they love. Those feelings are valid, but they’re also the very reason planning matters.

If you’ve been putting off your planning, our Comprehensive Legacy Planning Package is designed to help you move forward, step-by-step.  We provide the guidance and support you need.

The Price of Waiting:Diane always meant to “get her affairs in order.” She passed suddenly, leaving her two children at odds — arguing over burial preferences and executor roles. What should have been a few months of formalities turned into years in court, high legal bills, and a family still healing from mistrust.

The Hidden Cost of Avoidance

Avoiding estate planning doesn’t just delay paperwork.  It creates a ripple effect of stress, conflict, and emotional strain that families often don’t see coming.

  • Everything takes longer. Administrators wait on bank authorizations, court letters, and missing documents.
  • Costs escalate. Legal fees, executor stress, and emotional strain add up fast.
  • Disagreement grows. Sibling tensions and uncertainty breed conflict.
  • Grief increases. Loss becomes sharper when burdened by confusion or conflict.

The emotional toll is often greater than the money. I’ve seen executors wracked with second guessing their decisions and family ties weakened by miscommunication. A solid estate plan protects not just assets — but relationships.

Even if a will has been written, it might be out of date.  Executors may have become unavailable for a variety of reasons, circumstances may have changes, and assets may have been sold. Unsure if your current documents are enough? Our Annual Estate & Legacy Plan Review makes sure your wishes are up to date and crystal clear.

The Relief That Comes With Taking Action

Here’s what surprises so many: once you begin planning, it becomes easier.  A weight lifts because you’ve given your loved ones a clearly marked map, with directions they can follow when emotions run high. Without that direction, confusion and hesitation take over.

Making your estate plan helps:

  • Ease your family’s emotional burden.
  • Reduce the risk of disputes.
  • Ensure your wishes stand.
  • Provide guidance in moments clouded by grief.

Sometimes people don’t know where to start.  If you need some direction, book a Personal Clarity Consultation to get focused, practical guidance tailored to your situation.

Peace of Mind in Action:

After watching her friend struggle through her father’s messy estate, Leah made a choice. She organized her will, powers of attorney, and medical preferences. A few years later, a sudden illness struck. Because her plan was clear, her care was seamless, bills were handled, and her family could focus on support instead of confusion.

Facing the Hard Questions — Gently

Estate planning isn’t just about documents — it’s about having the courage to face the questions most of us quietly avoid. Questions like:

  • Who will manage your finances if you can’t?
  • Who will make personal or medical decisions for you?
  • Who will carry out your wishes — financially and emotionally?
  • What values or messages do you want to leave behind?

Yes, these are tough questions.  Maybe very uncomfortable questions. But they need to be addressed. We make it easier with our Essentials Package, which covers the core documents and conversations you need to get started.

How to Begin Without Feeling Overwhelmed

Taking the first step doesn’t have to feel daunting. Estate planning becomes far more manageable when you break it down into simple, meaningful actions. By starting small, you can build a strong foundation, involve the right people, and ensure your plan evolves with your life.

  1. Start with someone you trust. Talk to your potential executor or attorney before naming them. Make sure they understand the risks and responsibility, and are willing and able to take on this role.
  2. Write out what matters most. Even a simple list gives structure.
  3. Partner with someone who understands. Professional guidance can ease the journey.
  4. Keep it up to date. Life changes.  Marriage, new babies, or a change in relationships, etc. should be reflected in your plan.

The Gift of Clarity:

When Vivian passed away, her daughter Jenna found a well-organized binder: wills, beneficiary details, medical wishes, even personal notes. In the middle of loss, Jenna felt comfort knowing not only what to do — but exactly what her mother wanted.

Your Plan is an Act of Love

Estate planning isn’t about preparing for the end, it’s about protecting and caring for the people you love most. Avoidance can feel like a way to keep hard emotions at bay, but it often leaves behind stress, unanswered questions, and unnecessary costs. By taking even the smallest steps now, you give your family the gift of peace, clarity, and the comfort of knowing your wishes are carried out with love.

Let’s start the conversation. Contact NEXsteps and take the first step toward peace of mind for you and your loved ones.

Visit our services page to see how we can help.

Watch our video here, or watch on our YouTube Channel:

Prefer a podcast? Listen here!

Please send us your questions or share your comments.

Disclaimer: This content is for general information only and is not legal, financial, medical, or tax advice.

When There’s No One Left: Planning Your Estate Without Family or Friends

Nancy Boisvert Estate Planning , , , , , , , , , , , , , , , , , , , , , , , , , , , ,
When There’s No One Left: Planning Your Estate Without Family or Friends

When There’s No One Left, Who Handles Your Estate?

Estate planning often assumes you have someone — a trusted friend, a sibling, a niece, even a capable neighbour — who can step into the role of executor when you pass away. But what if  there’s no one left to take on this role?

This question came up recently in a conversation I had with someone who reached out for help. He told me that he has no one — no family, no friends who are capable of taking on the role. That moment stayed with me, because I realized how many others may quietly be in the same position.

Many individuals live alone, are estranged from family, or outlive their family and circle of friends. And while this isn’t always easy to talk about, it’s a very real and growing issue. So what happens when there’s no one left to act as executor?

What Is an Executor, and Why Does It Matter?

An executor (or estate trustee, in some provinces) is the person legally responsible for administering your estate after you die. They carry out your wishes, file final tax returns, distribute assets, pay off debts, and ensure your legacy is properly wrapped up.

But without a named executor, that job falls to… no one. At least, not right away.

When No One Is Named

If you have no will, or your will doesn’t name an executor (or if the person named is unwilling, unable, or unfit to act) then someone must apply to the court to be appointed. In many cases, that’s a family member.

But here’s something people don’t always consider: even if you do have someone in mind, they may not want the job.

Why? Because acting as an executor comes with significant responsibility and risk. Executors have a fiduciary duty to act in the best interests of the estate and its beneficiaries. That means they can be held personally liable if something goes wrong.

Add to that the emotional toll, the time commitment, and the fact that it’s often a thankless job, and it’s not hard to see why many people decline when asked, even when its someone they care about.

The Sister Who Said No

“I thought my sister would act as my executor,” one woman told me. “But when I brought it up, she said she couldn’t handle the stress — she’d seen a friend get taken to court over a simple mistake as executor, and it scared her off.”

Even loving family members can feel overwhelmed by the role. It’s not just a formality — it’s a legal and financial responsibility that many people are understandably hesitant to accept.

So if you don’t have family or friends, or the people you do have are unwilling to take on the role, what happens next?

When the Province Steps In

In these situations, the province will step in. This is typically through a Public Trustee or Public Guardian’s office, which becomes the administrator of last resort.

But keep in mind that the Public Trustee is a safety net, not a personalized service. Their role is to ensure your estate is settled legally, but their ability to honour personal wishes is limited. They don’t know your values, your history, or the importance of things like who gets your grandfather’s medals or what should happen to your beloved pet.

More importantly, the process may be slower, more bureaucratic, and less tailored than if you’d named someone privately.

What Can You Do If You Have No One?

If you’re reading this and realizing you don’t have anyone in your life who could serve as your executor, you’re not alone.  And, you’re not without options.

Here are a few alternatives:

1. Hire a Professional Executor

There are individuals (like myself) and companies that provide professional executor services. You pay a fee, and in return, they take on the legal and administrative duties of your estate. This ensures someone competent and experienced will carry out your wishes when the time comes.

The Man Who Outlived Everyone

“I’ve outlived them all,” he told me. “My wife passed a few years ago. My siblings are gone. The friends I trusted? They’re no longer here. There’s no one left I’d feel comfortable leaving this to.”

For some, it’s not about estrangement or complicated family dynamics — it’s about longevity. Living a long life is a gift, but it can also mean watching your trusted circle slowly disappear. In these cases, a professional executor may be the only reliable and secure choice.

2. Appoint a Trust Company

Many financial institutions offer executor services through their trust departments. This is generally more expensive and less personal, but it’s a reliable solution for larger estates or where neutrality is key. This is not always an option, as they typically have a minimum value of the estate.  This minimum is usually $1M.

3. Pre-Arrange with a Lawyer or Advisor

Some legal or financial professionals may be willing to take on this role or recommend someone qualified. It’s important to formalize this in your will and discuss it thoroughly in advance.

4. Consider a Hybrid Option

In some cases, individuals name a professional executor to manage the bulk of the responsibilities, with a trusted acquaintance acting as a co-executor to help with personal wishes or property access.

Why Planning Matters — Even When You’re Alone

Just because you don’t have a large network doesn’t mean your legacy should be handled by strangers or left to the courts. Your story, your values, and your wishes matter. Whether your estate is modest or complex, having a plan and someone responsible to carry it out gives you peace of mind and protects what you’ve built.

That’s why I created the Comprehensive Legacy Package .  It’s a guided, step-by-step service that helps you document your wishes, organize your important information, and make key decisions while you’re still in control. It’s especially valuable for those who are on their own or want to ease the burden on others in the future.

A Growing Issue in Our Aging Society

We are living longer and longer.  With this increased longevity come a rising numbers of people outliving family and friends. And this issue is only going to become more pressing. If this sounds like your situation, I encourage you to take action. Whether that means reaching out to a professional like myself, exploring trust company services, or even just starting a conversation, the most important step is the first one.

Don’t Leave It to the Government

Dying without a will is one thing. Dying without anyone to carry out your wishes is another. Don’t leave it to chance, or to the government. If you don’t have someone to name as your executor, let’s talk. There are options, and there is help. Visit nexsteps.ca to learn more.   You can also explore my executor support services,  or click here to book a personal consultation.

Visit our services page to see how we can help.

Watch our video here, or watch on our YouTube Channel:

Prefer a podcast? Listen here!

Please send us your questions or share your comments.

Disclaimer: This content is for general information only and is not legal, financial, medical, or tax advice.

3 Estate Planning Mistakes You Must Avoid at All Costs

Nancy Boisvert Estate Planning , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,
3 Estate Planning Mistakes You Must Avoid at All Costs

These 3 Estate Planning Mistakes Could Cost Your Family

Let’s face it—estate planning isn’t usually dinner party conversation. It can seem overwhelming, uncomfortable, and often gets put off to something you’ll get to “someday.” But none of us can predict what tomorrow will bring, and postponing the work or making assumptions can lead to costly consequences for the people you care about most.

After supporting families and individuals through estate and legacy planning, I’ve seen how a few common mistakes can unravel even the best intentions. Fortunately, they’re all avoidable—with the right conversations, tools, and support. So, with that in mind, here are the top 3 mistakes to avoid.

Mistake #1: Thinking Your Will Covers Everything

Many people breathe a sigh of relief once they’ve finally drafted a will. After all, although it is the cornerstone of your estate planning, most people put off getting it done. But that sense of security can be misleading.

A will is only one part of a complete estate plan. It governs assets that pass through your estate—but not everything you own goes through your estate. Jointly held assets with rights of survivorship (like a home owned with a spouse), registered accounts with named beneficiaries (RRSPs, RRIFs, TFSAs, life insurance), or assets held inside a corporation can bypass your will entirely. And make sure to review your beneficiaries regularly or risk having unintended consequences.

Real-life example:
A retired teacher in Alberta had a solid will leaving everything equally to her two adult children. However, her TFSA still listed her ex-husband as the beneficiary—a detail overlooked since their divorce 15 years earlier. When she passed away, the account went directly to her ex. The children were devastated, but legally there was nothing they could do.
Lesson: your will doesn’t control everything—especially if you don’t keep your beneficiary designations up to date.

Another often-overlooked detail is how real estate is titled. For example, if you own a property with an adult child but haven’t clarified whether it’s joint tenancy or tenants-in-common, you could unintentionally trigger capital gains taxes or probate complexities.

What to do: Make a habit of reviewing all your assets—not just what’s listed in your will. Confirm how each account, property, and policy is titled and whether a beneficiary is named. When in doubt, get help interpreting how those designations interact with your estate plan.

Mistake #2: Naming the Wrong Executor – or Leaving the Role Unclear

Choosing your executor (also called an estate trustee in some jurisdictions) is one of the most important decisions you’ll make. Yet too often, people choose someone by default—like a spouse, adult child, or close friend—without considering whether they have the time, skills, or temperament to handle the job.

Executors are responsible for everything from locating the will and applying for probate (where required) to filing tax returns, paying debts, communicating with beneficiaries, and distributing assets. It’s a significant legal and administrative responsibility that can take 12–18 months—or even longer if the estate is complex.

Real-life example:
A man in his early 70s was named executor for his brother’s estate. He agreed, out of love and duty, but quickly became overwhelmed. The estate included two properties, multiple bank accounts, a business, and adult children who weren’t speaking to each other. He had no legal background and didn’t know where to start. After months of stress and costly delays, he reached out for help—but the early decisions had already created avoidable complications.
Lesson: being named an executor is often seen as an honour—but it’s also a time consuming job requiring detailed record keeping.

What to do: Choose someone who is trustworthy, organized, and capable of following through—not just emotionally close to you. And always confirm they are willing to take on the role. If your estate is complicated or you want to spare loved ones the burden, consider appointing a professional executor or connecting your chosen executor with professional support.

At NEXsteps, we offer Executor Essentials and Executor Ally Plus—tailored services designed to guide executors through the estate administration process. Remember, your executor doesn’t have to figure it all out alone.

Mistake #3: Keeping Your Plan a Secret

Even the best estate plan can cause confusion or conflict if no one knows where to find it, what’s in it – or why.

Too often, people complete their planning and tuck it away, assuming their loved ones will figure it out when the time comes. But that lack of communication can leave room for assumptions, hurt feelings, and legal challenges.

Real-life example:
A widowed father of three left his entire estate to his second wife. The will was legally sound, but he had never told his children—nor explained why he made that decision. When he passed, the children were blindsided. They suspected coercion and launched a legal challenge that took years, drained the estate and destroyed family relationships.
Lesson: open communication and conversations can prevent these types of outcomes.

What to do: You don’t have to share every detail or dollar amount, but it’s helpful to communicate your intentions—especially if your plan might surprise someone. Explain your reasoning and give people a chance to ask questions. These conversations don’t always feel easy in the moment, but they can spare your loved ones tremendous pain and confusion later.

If having that conversation feels too emotional or complicated, a third-party professional can help mediate or guide it. Sometimes just having someone neutral in the room makes all the difference. We offer Estate Conflict Coaching to assist with these discussions.

Bonus! Mistake #4: Forgetting to Update Your Plan

Creating a will and power of attorney is a great start—but life changes, and your plan needs to keep pace.

Have you moved? Married, divorced, or started a blended family? Acquired a business or vacation property? Named someone who is now deceased or incapacitated? These are all reasons to revisit your documents. Laws also change, and what worked five years ago may no longer serve you today.

For instance, recent legal reforms in Ontario mean that marriage no longer revokes an existing will (as it once did), and new rules about separated spouses may change who inherits. These aren’t just legal footnotes—they can completely change how your estate is distributed.

What to do: Make a habit of reviewing your plan every 3–5 years, or whenever a major life event happens. A good review doesn’t just confirm that your wishes are up to date—it ensures your documents still align with current laws and reflect the people, assets, and relationships in your life today.

At NEXsteps, we offer an Annual Estate & Legacy Plan Review designed to make this process simple, accessible, and proactive. It’s a small investment that can prevent big headaches down the road.

Final Thoughts

Estate planning isn’t just about paperwork—it’s about people. It’s about protecting your loved ones from unnecessary stress, preserving your values, and leaving a legacy that reflects who you are. By avoiding these common mistakes—and reviewing your plan regularly—you give your family the gift of clarity and peace of mind when they need it most.

If you’re unsure whether your plan is complete, or if your executor could benefit from guidance, let’s connect. At NEXsteps, we offer trusted, personalized support to help you plan wisely and leave well. Because the best legacy is one that’s built with intention.

Visit our services page to see how we can help.

Watch our video here, or watch on our YouTube Channel:

Prefer a podcast? Listen here!

Please send us your questions or share your comments.

Disclaimer: This content is for general information only and is not legal, financial, medical, or tax advice.

5 Solid Reasons You Definitely Don’t Need a Will

Nancy Boisvert Estate Planning , , , , , , , , , , , , , , , , , , , , , , , , , , , ,
5 Solid Reasons You Definitely Don’t Need a Will

5 Totally Valid Reasons You Don’t Need a Will (Said No One Ever)

…with one bonus reason that really matters.

You’ve probably heard it before: “You really should make a will.” But maybe you’re different. Maybe you like to live on the edge—tempting fate and family feuds. If so, this article is for you.

Here are five perfectly good reasons to skip writing a will, plus one you might not have thought of, and exactly what can happen if you do.

1. You Love Surprises… Especially for Your Family

Why ruin the drama? Without a will, your loved ones can enjoy the full experience of confusion, court delays, and conflict. Think of it like reality TV, except it’s your real-life family fighting over furniture, money, or who gets the cat.

No guidance? No problem! Just let the courts decide. And your loved ones can spend months (or even years) sorting through your estate, wondering if you really wanted your golf clubs to go to your third cousin.

Reality check: Without a will, provincial intestacy laws decide who inherits what. That might mean your estranged sibling gets more than your longtime partner. Or your kids inherit at 18 with no guidance or oversight. Surprising? You bet. Comforting? Not at all.

2. You Trust the Government to Make the Right Call

Why bother making decisions when the government will do it for you? If there’s no will, the court will kindly step in to appoint someone to manage your estate. You might get lucky and end up with someone responsible. Or not.

And if there’s any friction among your relatives? Well, that’s just more time and money spent on legal fees instead of going to the people or causes that matter to you.

Reality check: A will lets you name your executor, the person you trust to handle your estate, pay debts, and distribute assets. Without one, the court chooses. And if no one steps forward? Expect delays, legal costs, and plenty of frustration.

3. You Think Kids Are Great at Making Adult Decisions

Who better to decide what happens to your estate than your kids? Especially if they’re teenagers who just learned to do their own laundry and think budgeting means checking if they can afford takeout. They’ll definitely make smart, thoughtful choices with your assets… right after upgrading their phone.

It’s easy to assume your children will be taken care of automatically, or that a relative will step up. But unless it’s spelled out legally, none of that is guaranteed. And even if they do inherit, a sudden windfall with no guidance is more burden than gift.

Reality check: If you have young children and no will, your assets may be tied up until your children reach adulthood without financial guidance or protection. Even adult children may be unprepared to take on major financial decisions without clear instructions.

“He Turned 18—and Inherited Everything”
After Tom’s parents passed, he inherited their entire estate on his 18th birthday because there was no trust or will to guide distribution. Within a year, much of it was gone. “If they’d had a plan in place, I know I would’ve made better decisions,” he now admits.

4. You Enjoy Watching People Fight Over Your Stuff

Why not leave your loved ones with one final gift: the opportunity to argue over your belongings? Nothing brings out buried resentment like deciding who gets the dining room table or your favorite armchair.

Without clear instructions, even families that get along often end up in conflict. What should you expect? Fireworks. And lawyers.

Reality check: Clear instructions in a will can prevent disputes and help keep relationships intact. When nothing is spelled out, people interpret things their own way, and that can lead to resentment, litigation, and permanently damaged family ties.

5. You’re Planning to Live Forever

This one’s foolproof. If you never die, you never need a will. So keep taking your vitamins, doing yoga, and watching longevity podcasts. Immortality is just around the corner, right?

But seriously, most people don’t plan to die unexpectedly. That’s the point. A will isn’t about being pessimistic. It’s about protecting the people and values that matter to you.

Reality check: As much as we all hope to live long, healthy lives, the truth is that life is unpredictable. Accidents happen. Illnesses strike. A will ensures that what you leave behind is handled the way you intended, with care, clarity, and purpose.

Bonus: You Assume Someone Will Just “Step In” as Guardian

You might assume your best friend, sibling, or parent will take care of your kids if something happens to you. And maybe they will, but that’s not a given unless it’s documented in your will.

The court doesn’t go by intention. It goes by law. That means the person you’d trust most may not even be considered. And in some cases, your children could end up in the care of someone you never would have chosen.

Reality check: A will allows you to name a legal guardian for your children. Without that direction, the court decides who will raise them—and it may not align with your wishes or your child’s best interests.

“They Wouldn’t Let Me Take My Sister’s Kids”
When Amanda’s sister passed away suddenly, Amanda assumed she’d care for her two young nieces. But without a will naming her as guardian, the court awarded custody to a distant relative in another province. “It was devastating,” she says. “I thought we were all on the same page, but there was nothing in writing.”

You Deserve a Say, Even When You’re Not Here

It’s easy to put off estate planning, especially when life is busy. But the cost of doing nothing isn’t just legal, it’s emotional. When you don’t leave clear instructions, you leave behind confusion, court costs, and in some cases, irreversible damage to relationships.

Planning ahead doesn’t have to be overwhelming.

Take the First Step with the Essentials Package

If you’re ready to protect your loved ones from uncertainty, start with a simple plan that brings clarity and peace of mind. At NEXsteps, our Essentials Package is designed to help you:

  • Clarify your wishes
  • Get organized
  • Appoint a trusted executor and guardian
  • Reduce the burden on those left behind

You don’t have to figure it all out on your own—but you do have to take the first step.

Learn more about the Essentials Package

Visit our services page to see how we can help.

Watch our video here, or watch on our YouTube Channel:

Prefer a podcast? Listen here!

Please send us your questions or share your comments.

Disclaimer: This content is for general information only and is not legal, financial, medical, or tax advice.

Living Solo? Who Will Speak for You?

Nancy Boisvert Estate Planning , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,
Living Solo? Who Will Speak for You?

What You Need To Know If You’re Living Solo

Thoughtful planning for those navigating life independently

Living without a spouse, children, or nearby family is increasingly common, but that doesn’t mean you have to navigate the future alone. In fact, people who are living solo often benefit the most from intentional, personalized planning.

Whether you’ve never had children, are widowed or divorced, or your trusted circle lives far away, the key question becomes: If something happened tomorrow, who would speak for you?

As a Certified Executor Advisor, I work with individuals who want to protect their autonomy, make informed decisions, and feel confident that their voice will be heard, even if they’re unable to speak for themselves one day. This article will give you insight on how to start.

What It Means to Live Solo and Plan Proactively

Being independent doesn’t mean being unprepared. If you don’t have family to rely on, or don’t want to rely on them, your support system and decision-making framework may look a little different.

Proactive planning ensures that your values, preferences, and goals are respected. And when no immediate family is in the picture, it’s even more important to formalize your wishes and designate people you trust.

Who Will Act on Your Behalf If You Can’t?

If you experience a medical emergency or become temporarily, or permanently, unable to make decisions, someone will need to step in. And if no one’s been legally named, that responsibility will likely fall to a public trustee or court-appointed guardian.

That’s exactly what happened to Alan, a retired teacher who had lived independently for years. When he had a serious fall and was hospitalized, it quickly became clear that he had no formal Enduring Power of Attorney in place. His nearest relative was a distant cousin he hadn’t seen in over a decade and the hospital had no one to consult for care decisions. It took weeks to sort out who could legally manage his finances and speak on his behalf, delaying his rehab and increasing his stress during an already difficult time.

Alan’s experience is, unfortunately, not unique. But it’s avoidable with a little planning.

You’ll want to assign trusted individuals—or professionals—to these key roles:

  • Enduring Power of Attorney:  Oversees financial matters, bill payments, and legal responsibilities.
  • Medical Directive: Makes health and lifestyle decisions when you’re unable to.
  • Executor: Administers your estate, pays off debts, files taxes, and distributes assets as outlined in your will.

These responsibilities are often assigned to family members, but when that’s not an option, you can choose friends, neighbours, or professional service providers, as long as they’re legally appointed.

Planning Where and How You Want to Live

Housing decisions are deeply personal. And for those living independently, it’s wise to think ahead while you have the freedom to choose.

Ask yourself:

  • Is my current home suitable if my health or mobility changes?
  • Am I open to downsizing, co-living, or moving into a community setting?
  • Would I prefer to stay at home with the right support in place?

Exploring these questions in advance allows you to plan on your terms rather than reacting to a crisis. It also helps you identify what services or individuals might need to be part of your future support team.

Client Spotlight: Joan’s Story

Joan, a retired librarian in her 70s, recently downsized into a retirement community after more than three decades in the same home. Before the move, she reached out to review her plan and ensure it reflected her new living situation.

We updated her Enduring Power of Attorney and Medical Directive, clarified her executor’s role, and adjusted her personal care preferences to fit her new environment. With everything in place, Joan shared: Moving was a big decision, but having everything else sorted made it feel like I was doing the right thing at the right time.

Build a Team You Can Trust

When you’re living on your own, having a support network you trust is essential. Many of my clients create what I call a “circle of support”; a mix of individuals and professionals who can step in when needed and help carry out their wishes with confidence.

This team might include:

  • Long-time friends or neighbours who understand your values
  • A professional fiduciary or legal advisor
  • A Certified Executor Advisor to help guide planning and decision-making
  • Care coordinators, end-of-life consultants, or other support services

Client Spotlight: Heather’s Story

At 72, Heather—a retired nurse living without nearby family—wanted to be proactive about her future. She chose the Essentials Package to get clear on her options and put key documents in place.

With guidance, she appointed a trusted friend as her Representative for her Medical Directive and selected a professional fiduciary to manage her finances and serve as executor. After we wrapped up, Heather said, “I didn’t realize how much peace of mind I’d feel just knowing everything is in place and that it’s all written down properly.”

You don’t need to have all the answers at the beginning. You just need a solid starting point. Even a small, well-informed circle of support can make a meaningful difference. And the most important ingredient? Trust.

Keep Your Plan Current and Clear

Creating a plan is a strong first step, but it’s not something you do once and forget. As your life evolves, your documents and decisions should evolve with it.

A move, a shift in finances, or even changing relationships can affect who you’ve named and how your wishes are carried out. That’s why I offer an Annual Estate & Legacy Plan Review, a structured, low-pressure opportunity to revisit your plan and make sure everything still reflects your current reality and goals.

Client Spotlight: David’s Story

David, a 68-year-old retired business owner, started with the Comprehensive Legacy Package to get everything in place. With no children and siblings living out of province, he wanted clarity and structure for the friends he had asked to manage his affairs.

We built a plan and scheduled regular reviews to keep everything current. After one of those check-ins, David said: “This gave me real peace of mind. Now I know things are organized and that I’ve made it easier for the people I care about.”

A quick annual review can prevent confusion later and gives you confidence that your plan continues to serve you well as life changes.

Preserve Your Voice, Protect Your Wishes

Living solo means you have more freedom and also more responsibility to ensure your wishes are respected. The good news is, with a clear plan and the right people in place, you can enjoy peace of mind today while protecting your future independence.

Ready to Begin?

I support individuals who are living independently in creating proactive, thoughtful plans that reflect their goals, lifestyle, and values. Whether you need to start from scratch or refine existing documents, I can help.

  • Start with the Essentials Package – A focused session to identify your needs and next steps
  • Or choose the Comprehensive Legacy Package – A full-service planning experience with ongoing support

Ready to take the first step toward a plan that truly works for you—now and in the years ahead? At NEXsteps, we’re here to guide you with clarity, compassion, and expertise.

Visit our services page to see how we can help.

Watch our video here, or watch on our YouTube Channel:

Prefer a podcast? Listen here!

Please send us your questions or share your comments.

Disclaimer: This content is for general information only and is not legal, financial, medical, or tax advice.

What Most Wills Miss!

Nancy Boisvert Estate Planning , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,
will, personal effects on a desk or table top

What Turns a Legal Document Into a True Legacy?

Do you know what most wills miss? When people think of creating a will, they often breathe a sigh of relief once the legal paperwork is signed. After all, that piece of paper tells everyone who gets what, right?

Well… yes and no.

A will is a legal document. It handles the basics of your estate: who gets your property, who will care for your minor children, and who’s in charge of settling your affairs. But when we look closer at what most wills miss, it becomes clear: a will alone doesn’t fully reflect the life you’ve lived or the legacy you want to leave.

Let’s explore what’s missing from a will, and how a complete legacy plan can fill the gaps, capturing both your values and your assets.

The Legal vs. the Personal

Most wills are transactional. They transfer ownership of things: a house, bank accounts, jewelry, and maybe a few heirlooms. But your life is not just a collection of items. It’s also your values, relationships, stories, intentions, and lessons learned.

Without a more holistic view, one that goes beyond the will, many families are left with:

  • Unclear guidance about how to handle emotionally sensitive items
  • Confusion about digital assets like photos, email, or online accounts
  • Disagreements over items with more sentimental value than financial worth
  • No written guidance around long-term caregiving wishes or family responsibilities

Even with a will in place, these issues can create unnecessary tension or delay during estate administration.

What a Will Typically Covers

Let’s start with what a standard will includes:

  • Designation of beneficiaries for your physical and financial assets
  • Appointment of an executor to carry out your wishes
  • Guardianship instructions for minor or dependent children
  • Basic instructions on how debts, taxes, and expenses should be handled

This is the legal foundation. But without a legacy planning strategy in place, your loved ones may still feel lost, left to interpret decisions without your voice or guidance.

7 Critical Elements Most Wills Don’t Address

To create a legacy that reflects your full life, not just your legal obligations, consider these often-overlooked components:

1. Values and Life Lessons

Have you told your family what mattered most to you in life? A legacy letter or ethical will is a non-legal document that expresses your beliefs, values, hopes, and life lessons. It doesn’t direct assets—it shares meaning.

One thoughtful way to do this is with a Digital Memory Legacy Book, a guided collection of your stories, reflections, and messages that future generations can hold onto.
Learn more about the Digital Memory Legacy Book

This non-financial legacy may become the most cherished part of what you leave behind.

2. Digital Footprint

Most wills don’t cover digital assets like:

  • Passwords and online banking
  • Social media accounts
  • Cloud storage (photos, documents, etc.)
  • Crypto or digital wallets

A complete legacy plan includes a digital asset inventory and instructions. Otherwise, your digital life could be locked away, or worse, misused.

3. Caregiving and Aging Wishes

A will doesn’t explain how you want to live if you require assistance later in life. That’s where lifestyle and legacy planning come in; documenting preferences for aging in place, caregiving roles, housing transitions, and more.

This proactive layer of planning is essential in today’s aging population and deserves to sit alongside your legal documents.

4. Personal Items with Emotional Weight

Grandpa’s watch. Mom’s recipe box. A family photo album. These often become the biggest sources of conflict because their value isn’t financial, it’s personal.

A personal property distribution list, included in your estate planning checklist, can eliminate confusion and emotional tension.

5. Pet Care Plans

Did you know that legally your pet is “property”? But we know that your pet is more than property. They’re family. While a will might name a caregiver, it rarely includes the day-to-day details that make your pet feel safe and loved. A complete legacy plan outlines routines, dietary needs, medications, and vet contacts, giving your pet a smooth transition and your loved ones peace of mind.

This kind of planning is especially important if you live alone or have loved ones who may not know your pet’s needs firsthand.

6. Instructions for Celebrations or Ceremonies

Your end-of-life wishes deserve to be known, whether it’s a traditional funeral, memorial celebration, or something deeply personal.

Without written preferences, families often default to what feels safest, not what feels right.

7. Who Helps Your Executor?

Even with a clear will, most executors are unprepared for the detailed, time-consuming nature of estate administration.

That’s where NEXsteps can help. Our services provide step-by-step support to guide executors through the legal, financial, and emotional complexities of the role.

Your executor shouldn’t have to figure it all out alone.

The Complete Legacy Planning Checklist

Want to ensure nothing is missed? Use this simplified estate planning checklist as a guide:

✔️ Legal Will (current and signed)
✔️ Power of Attorney (financial)
✔️ Personal Directive (health care)
✔️ Guardianship documents
✔️ Legacy Letter or Ethical Will
✔️ Digital Asset Inventory & Instructions
✔️ Caregiving Preferences & Housing Plan
✔️ Personal Property Distribution List
✔️ Pet Care Plan
✔️ Funeral/Memorial Wishes
✔️ Executor Roadmap & Support Contacts
✔️ Updated Contact List of Key People
✔️ Document Organizer or Master Binder

A Will Tells Them What. A Legacy Plan Tells Them Why.

What most wills miss isn’t due to neglect, it’s simply because most people don’t realize how much more they can and should include.

Think of your will as the skeleton of your final wishes. A full legacy plan adds the heart, capturing your health preferences, financial values, and personal intentions.

If you’re ready to go beyond the basics and build a legacy that truly reflects your life, reach out to begin your personalized Legacy and Lifestyle Plan.

It’s not just about what you leave behind. It’s about making sure it lands with clarity, compassion, and meaning.

Visit our services page to see how we can help.

Watch our video here, or watch on our YouTube Channel:

Prefer a podcast? Listen here!

Please send us your questions or share your comments.

Disclaimer: This content is for general information only and is not legal, financial, medical, or tax advice.

What Happens If You Never Adapt Your Estate Plan?

Nancy Boisvert Estate Planning , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,
What Happens If You Never Adapt Your Estate Plan?

Adapt Your Estate Plan: Protect What Matters Most

From changing tax laws to evolving family dynamics, adapting your estate plan ensures it still reflects your values and your wishes.

Why do you need to adapt your estate plan? Most people create an estate plan with good intentions—often during a major life milestone like marriage, retirement, or after the birth of a child. But many never revisit those documents. Years, or even decades, can pass, and while life changes, their estate plan doesn’t.

That’s a problem.

When your will, powers of attorney, or trust arrangements no longer reflect your current relationships, financial situation, or the law, it can lead to unnecessary taxes, confusion, and family conflict. Adapting your estate plan as life evolves isn’t just a good idea. It’s essential to protecting the legacy you’ve worked hard to build.

Why It’s Crucial to Adapt Your Estate Plan

Your estate plan is a snapshot in time of your relationships, your financial position, and your values. But as we all know, life doesn’t stand still. Marriage, divorce, the arrival of grandchildren, or a significant change in your assets can render portions of your plan outdated or irrelevant.

Outdated documents can also create confusion for executors, spark disputes among beneficiaries, or result in higher tax liabilities than necessary. That’s why regular reviews are not just recommended, they’re essential.

Key Moments to Revisit Your Estate Plan:

  • Marriage, divorce, or common-law relationship changes
  • Birth or adoption of children or grandchildren
  • Changes in residency (especially between provinces)
  • The death or incapacity of an executor or beneficiary
  • Business sales or significant asset acquisitions
  • Shifts in tax law or government policy
  • Sale or purchase of significant assets

Even if none of these events have occurred, it is wise to review your plan every 3–5 years. Laws shift, especially around taxation and trusts. Your family’s needs and relationships may change more subtly but just as meaningfully.

Real-Life Example: The Outdated Trust That Backfired

Paul, a small business owner in Saskatchewan, created a will in 2011 that included a testamentary trust for his two teenage sons. At the time, this structure allowed the estate to benefit from graduated tax rates, minimizing the tax burden on their inheritance.

But in 2016, federal tax rules changed. Testamentary trusts, except those classified as Graduated Rate Estates within the first 36 months, became subject to the top marginal tax rate. Paul never updated his plan or sought advice. When he died in 2021, the trust remained in place, but it no longer offered the tax advantage it once had.

The outcome? Thousands more in taxes were paid, and the complexity of administering the trust caused delays. A simple review and adjustment could have made a significant difference.

Tax Trends That Could Affect Your Plan

While Canada doesn’t levy a traditional estate or inheritance tax, death can still trigger major tax events. Upon death, most assets are considered “disposed of” at their fair market value, a process known as deemed disposition. This can lead to capital gains taxes on:

  • Secondary properties (e.g., cottages or investment real estate)
  • Non-registered investment portfolios
  • Business shares or private investments

Registered assets like RRSPs and RRIFs are also fully taxable unless rolled over to a spouse or financially dependent child. And while the capital gains inclusion rate remained at 50% between 2009 and 2025, tax laws do shift. For example, as shown in Paul’s story above, testamentary trust rules were overhauled in 2016. Keeping your plan current ensures you (and your estate) aren’t caught off guard.

Family Dynamics: One Size No Longer Fits All

The “nuclear family” model no longer applies to many Canadians. Today’s families are blended, diverse, and often complex. That means your estate plan needs to be more intentional than ever.

  • Common-law relationships are not always recognized in the same way as marriages, depending on the province.
  • Children from previous marriages can be unintentionally left out if a will is not carefully worded.
  • Estranged or dependent adult children may need special provisions—or clear exclusions to avoid legal disputes.
  • Loved ones with disabilities might benefit more from a trust than a direct inheritance.

Being clear and specific in your documents and reviewing them regularly can save your family heartache and legal expense later on.

Tips for Keeping Your Plan Aligned With Your Life

  1. Schedule a review every 3–5 years, or immediately after a major life event.
  2. Consult a tax advisor annually—especially after federal budgets or new legislation is introduced.
  3. Use trusts or planning tools strategically, especially for privacy, tax deferral, or family protection.
  4. Keep executor and beneficiary designations current, including on registered accounts, pensions and insurance.
  5. Use professionals strategically, including estate lawyers, tax advisors, and Certified Executor Advisors, to ensure your plan works in practice, not just on paper.
  6. Communicate your wishes—don’t leave your executor and family guessing.

A Legacy Worth Protecting

An estate plan is more than paperwork. It’s the legal expression of your wishes, your care for others, and the legacy you want to leave behind. But even the best plan can become outdated without attention. Changing tax laws, evolving relationships, or forgotten details can undo years of thoughtful preparation.

At NEXsteps, we help individuals and families adapt their estate plans so they stay aligned with real-life circumstances—not just legal requirements. As a Certified Executor Advisor, I bring practical, compassionate guidance to every conversation, whether you’re updating a will, preparing as an executor, or navigating the complexities of estate administration.

Because protecting what matters most starts with keeping your plan alive, not just legal. Reach out or book your consultation for compassionate, knowledgeable support.

Visit our services page to see how we can help.

Watch our video here, or watch on our YouTube Channel:

Prefer a podcast? Listen here!

Please send us your questions or share your comments.

Disclaimer: This content is for general information only and is not legal, financial, medical, or tax advice.

Incapacity Planning: What Happens If You Can’t Decide?

Nancy Boisvert Estate Planning , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,
an empty chair in a sunlit room symbolizing being unable to speak for yourself

The Growing Importance of Incapacity Planning

As our population continues to live longer, with life expectancies now stretching well into the 80s and beyond, the conversation around aging is increasingly turning to more than just retirement savings and long-term care. One of the most urgent and overlooked aspects of later life is incapacity planning; the process of legally preparing for the possibility that you might one day be unable to make decisions for yourself due to illness, injury, or cognitive decline.

This is not just a matter for the elderly. Accidents, strokes, or early-onset dementia can affect adults at any age. But with dementia diagnoses projected to impact nearly 1 million Canadians and approximately 8.4 million Americans  by 2030, the time to prepare is now.

Why Incapacity Planning Matters More Than Ever

When someone loses the ability to manage their personal, legal, or financial affairs, it can throw a family into chaos. Without the proper documents in place, loved ones may face lengthy court processes to establish guardianship or trusteeship, often during an already stressful and emotional time.

Unfortunately, many people do not have powers of attorney or personal directives in place, leaving their families vulnerable to legal confusion, emotional conflict, and financial mismanagement.

“If you don’t choose who will speak for you, the court may have to,” says Nancy Boisvert, a Certified Executor Advisor and founder of NEXsteps. “And that decision may not align with your wishes or your family dynamics.”

A Real-Life Cautionary Tale

Consider the case of Joan, a retired teacher in her early 70s who was widowed and living independently in Alberta. Her two adult children lived in different provinces. Joan had never completed an Enduring Power of Attorney or Personal Directive, believing she was still “too young to worry about that.”

When Joan was diagnosed with early-stage Alzheimer’s, her condition rapidly progressed. Within a year, she was unable to manage her finances or communicate complex decisions. Her children disagreed about the best course of care and how to manage her home and investments. With no legal decision-makers appointed, they had to apply for guardianship and trusteeship through the courts, a process that took several months, cost thousands of dollars in legal fees, and strained their relationship permanently.

By the time decisions could be made, critical financial deadlines had passed, and Joan’s home had deteriorated in value. Worse, her care was delayed because no one had clear authority to act on her behalf.

Unfortunately, Joan’s situation is not unique.

What Does Incapacity Planning Involve?

Incapacity planning involves creating legal documents that authorize trusted individuals to make decisions on your behalf if you’re no longer able to do so:

Enduring Power of Attorney (POA):

This allows a person you trust (your “attorney”) to manage your financial and legal affairs. It remains valid even if you become mentally incapable. This document is called by different names in different jurisdictions.

Personal Directive (or Advance Healthcare Directive):

This document appoints someone to make personal and medical decisions, such as where you will live, the kind of care you receive, and life-sustaining treatment preferences.

Wills and Mental Capacity:

A will can only be created or amended by someone who has mental capacity. Once a person loses that capacity due to dementia, injury, or illness, they can no longer legally draft or revise their will. This makes it crucial to have a valid, up-to-date will in place before any cognitive decline occurs. Without one, your estate may be distributed according to provincial intestacy laws, which may not reflect your wishes.

Risks of Not Having a Plan

Without these tools in place:

  • Families must go to court to gain authority to act, causing delays and legal costs.
  • Disputes can arise between family members or with healthcare providers.
  • There’s a higher risk of financial abuse or misuse of funds, especially when no formal power of attorney is in place.
  • Personal wishes around medical care, housing, or end-of-life choices may not be followed.

Proactive Tips for Incapacity Planning

Start early – Don’t wait for a diagnosis or health scare. Planning while you’re healthy gives you more control and avoids rushed decisions.

Choose your agents carefully – Select people who are trustworthy, available, and capable of acting in your best interests. Consider naming backups in case your original choices are unable to act.

Communicate your wishes – Talk to your chosen agents and your family about your values, healthcare preferences, and expectations. The documents are important, but so is the conversation.

Review and update regularly – Life changes. So should your documents. Review your plan every 3-5 years or after major life events (divorce, death, relocation).

Consult professionals – A lawyer can help you create documents that meet your jurisdiction’s legal requirements. A Certified Executor Advisor can help you think through practical concerns and family dynamics.

Store documents accessibly – Make sure your attorney, executor and healthcare agent know where to find your documents in an emergency. Consider digital backups or services that provide secure access. *Original wills are required, so be sure to keep that document secure.

Start the Conversation Now

As our population ages, the need for incapacity planning is no longer optional, it’s essential. It’s not just about protecting assets; it’s about preserving dignity, reducing family stress, and ensuring your wishes are known and respected when you can no longer speak for yourself.

At NEXsteps, we work with individuals and families to prepare for the road ahead, not just with wills and estate planning, but with personalized guidance around incapacity, aging, and decision-making. Our mission is to ensure you’re ready for whatever the future holds.

Need help getting started with your incapacity planning?

Reach out or book your consultation for compassionate, knowledgeable support. As a Certified Executor Advisor and legacy planning expert, I can guide you through the process and connect you with trusted legal professionals if needed.

Visit our services page to see how we can help.

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Disclaimer: This content is for general information only and is not legal, financial, medical, or tax advice.

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