ABOUT THIS EPISODE
Solo 25
Most Canadians think their will controls everything they own.
It doesn't.
Your will may only govern a small portion of your assets — while the rest passes outside of it entirely.
In this episode, we cover:
• The three ways assets transfer when someone dies
• Why beneficiary designations can override your will
• How joint ownership can bypass probate entirely
• What your will actually controls — and what it doesn't
• Why powers of attorney matter during incapacity
• How family trusts can help with tax planning, control, and asset protection
• The 21-year trust rule most families never hear about
Estate planning isn't just about death.
It's about control, taxes, incapacity, and protecting your family when life changes unexpectedly.
Many families only discover the gaps in their plan after a crisis has already occurred.
If you have children, a corporation, aging parents, or significant assets, this is a conversation worth having before it becomes urgent.
Links:
📋 For the full episode breakdown and additional tax resources, visit:
🌐 theadvisorstable.com
📞 Looking for Trusted Tax Advice?
Connect with Sankalp (Sunny) Jaggi at Cedar Consulting Group
📧 sunny@cedargroup.ca
🌐 cedargroup.ca
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👇 Comment below: Have you ever reviewed the beneficiary designations on your accounts, insurance policies, and registered plans?
LEGAL DISCLAIMER: This video is based on a real case, but names and some details have been changed to protect client confidentiality. This content is for educational purposes only and does not constitute legal, tax, accounting, or financial advice. Always consult a qualified professional regarding your specific circumstances.
#TheAdvisorsTable #EstatePlanning #FamilyTrust #Wills #Probate #TaxPlanning #WealthManagement #CanadianTax
00:00 – Introduction: The Big Will Misconception
00:15 – The Three Ways Your Assets Move When You Die
00:48 – Bucket Three: The Leftovers and the Probate Process
01:06 – Case Study: Why the Kids Didn't Get the Inheritance
01:49 – The Paperwork Trap and Checking Your Beneficiaries
02:09 – What a Standard Will Does (and Where It Fails)
02:55 – The Cost of Probate and Hidden Taxes in Ontario
03:41 – Incapacity Planning: What Happens If You Get Sick?
04:50 – Essential Documents: Powers of Attorney and Directives
05:47 – What Are Dual Wills and How Do They Work?
06:47 – Demystifying the Family Trust for Regular Canadians
07:44 – Four Powerful Things a Trust Can Do That a Will Can't
11:51 – The 21-Year Rule and the Generational Playbook
13:40 – Other Types of Trusts and Overcoming Common Myths
15:33 – Summary Checklist: Who Needs a Will vs. a Family Trust?
