Planning to protect your estate and your loved ones, now and for the future

December 04, 2019 | RBC Wealth Management


This four-part video education series highlights information that can help you protect your estate today and for the future.

David Chilton, The Wealthy Barber

The series is produced in collaboration between RBC Wealth Management Royal Trust and David Chilton, author of best-selling personal finance guides The Wealthy Barber and The Wealthy Barber Returns, and former dragon on CBC’s Dragons’ Den.

The Wealthy Barber has a power of attorney. Do you?

A power of attorney for property protects your assets so your loved ones can focus on your care.

Did you know?
  • There are two basic types of power of attorney: one for personal care and one for property.
  • Incapacity is not age related, it can happen at any time.
  • Naming a trust company as your attorney for property can ease the burden on your caregivers.

What is a trust? The Wealthy Barber explains

Trusts protect your wealth for the benefit of current and future generations.

Did you know?
  • There are two basic types of trusts: one that is active while you’re alive and one that starts after your death.
  • Trusts allow you to benefit individuals or charities while maintaining a degree of control over your assets.
  • A trust can span several generations; a trust company will be there for current and future beneficiaries.

Have you been named as an executor of a Will? The Wealthy Barber says, “Get help!”

Executor services protect you from liability and ease the burden on your family.

Did you know?
  • You can appoint a trust company and your executor can too; you don’t have to place the burden on a loved one.
  • As an executor, you have personal liability to ensure the estate is settled properly.
  • Settling the simplest of estates can take up to two years and involves more than 70 tasks!

The Wealthy Barber: Get an up-to-date Will!

Wills help to protect your estate and ensure your wishes are fulfilled.

Did you know?
  • If you’re old enough to vote, you’re old enough to make a Will.
  • Without a Will, the law sets out how your assets will be distributed, not you or your loved ones.
  • You should update your Will as your personal circumstances change.

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