Doesn't everyone have a will?

Not even close. Only 50 percent of Canadian adults and just 42 percent of U.S. adults currently have estate preservation documents such as a will or living trust.* These numbers are alarming because they mean that many families run the risk of having their estates settled in the courts.

That’s not a good prospect, especially for families with children under 18.

Make estate preservation part of your strategy and be sure to have a will.

So how do you get your papers in order?

Work with a qualified lawyer to put an estate plan in place that:

• Ensures your legacy reaches your intended heirs
• Helps to manage estate and/or other taxes
• Sets up medical and financial powers of attorney, so that someone can take care of you should you become incapacitated

When you get started with your financial professional, you may be surprised how quick and affordable it can be to check off the important step of putting your will or living trust in place.

* Estate Planning: When There Isn’t a Will, What Is the Way? MarketWatch, May 24, 2017, td.mediaroom.com/2017-05-24-Estate-Pl…; More Than Half of American Adults Don't Have a Will, 2017 Survey Shows, Caring.com, March 12, 2018