Estate Planning for the Terminally Ill: A Practical Guide

Posted on March 26th, 2025 in Budgeting, E-Newletters, Education Planning, Estate Planning, Financial Prosperity Series, Insurance, Investing, Lending, Life Events, Retirement, Tax

If you’re between 35 and 65, chances are you know someone who has been diagnosed with a terminal illness. It’s a tough reality, but if there’s still time, helping them get their estate in order can provide peace of mind for them and their loved ones.

Why Estate Planning Matters

No one wants to see a lifetime of hard work eroded by unnecessary taxes. Without a proper estate plan, a significant portion of one’s assets could go straight to the government instead of their family. The Canada Revenue Agency won’t hesitate to take what isn’t properly protected. That’s why a solid estate plan is essential—it ensures that the maximum value of an estate goes to the people who matter most.