I need to make a Will. What do I do with my Estate?

[Aardvark154]

do you have siblings? nieces? nephews?

how about a cause that's close to your heart?

Although I could expand on the above, this summarizes it quite nicely.

 

[danmand]

:thumb:

A bursary at the university you attended?

Donation to a local hospital?

Screw that. Spend your money, and then some.

 

[Mr Bret]

Do you have a favourite MPA or SP, or maybe a few that you've developed a friendship/relationship with?
I'm sure a surprise inheritance would be welcomed by them.

 

[peter4025]

Open your own charity. Put all your money in there. The mandate should be to throw an orgy every aniversary of your death until money runs out. Terb members should be the only beneficiaries

 

[IM469]

The mandate should be to throw an orgy every aniversary of your death until money runs out. Terb members should be the only beneficiaries

That is my suggestion. Donation to charity is like pissing into a lake - no one will notice or appreciate you. But a terb party - run by Flirt (their parties are awesome) - your image on a big poster, and every hour a toast to you (with free liquor).

A little nest egg to flirt to cover a discount on each theycallmebruce birthday. Now you will be remembered !

 

[moustache mike]

Do you have a favourite MPA or SP, or maybe a few that you've developed a friendship/relationship with?
I'm sure a surprise inheritance would be welcomed by them.

I was going to say this.....
I just got divorced. ...although provisions are made for my 2 kids, I do have a little something set aside with the name and last address I knew for my old ATF....she doesnt know it, so maybe someday she will get a surprise. ...

 

[superstar_88]

So I am reaching an age where I think I need to get a Will completed. Given that I am single and no dependants, I am having a difficult time deciding what to do with my Estate. I welcome some advice and suggestions.

I'll be there soon enough. Probably retire in less than 10 years. Mortgage free many years ago. Never married no kids. Finding a young nubile Asian visa student is very appealing right now.

 

[whitewaterguy]

LOL. are you serious? I doubt this is for real. Young asian women aren't exactly looking for gross white old guys to marry just to move into this country.

As for DB123 and MJL... Get a room already! I had enough of your public terb displays of affection

Young Asians might be looking for a very attractive good looking middle age guy though, and I do know of a fella in his late 50's who is bringing his Very cute Thai bride to Toronto as soon as all the paperwork is approved, and this guy is no prize

My favourite Asian sp, who is 26 keeps asking me to find her an older nice guy like me, unfortunately although I'm youngish looking I'm 63 and married. Funny part is, I've had a couple of private messages in the last day from terbites in similar situations to the OP, and they have asked me for more details about the girls looking for a Canadian guy. It's not that more far fetched than guys who go on Asian bride searches oversees. I bet a lot of Asian "students" here on temp visas are looking for a means to remain. I def know some who are. I could be married three times over already. Lol.

So yeah....assign all your assets to some pet rescue joint, or wake up to a, pleasing to the eye and willing to love you forever,Asian sweety. Grrrrrrrrrwoof. Lol. Pet rescue
Can take a hike

I'd much rather leave everything to a person I know and have a relationship with, and it's never too late to establish a mutually satisfying and caring little love nest, with a deserving and appreciative sweetheart

 

[theycallmebruce]

That is my suggestion. Donation to charity is like pissing into a lake - no one will notice or appreciate you. But a terb party - run by Flirt (their parties are awesome) - your image on a big poster, and every hour a toast to you (with free liquor).

A little nest egg to flirt to cover a discount on each theycallmebruce birthday. Now you will be remembered !

LOL. .This is the best answer !!! Keep them all coming. You all have put a smile on my face

 

[bazokajoe]

The last great philosopher, Soren Kierkegaard, who was well off from having inherited quite some money from his father, managed to have his money run out at the same time as his passing. I suggest you do better, by leaving behing a large loan to the bank and a large sum owing to CRA. That is my plan, anyway.

First off,don't do this.Your executor will get stuck with the bill.Your executor is legally responsible for taking care of your estate, including debts.

Do you have any family members around,eg. brothers,sisters?

 

[notthemama]

I leave it all in a trust to the first person who can bring me back. Fuck the rest.:thumb:

 

[bazokajoe]

Don't know much about your estate but if you have life insurance make sure it does NOT go to your estate but directly to a beneficiary. That way it does not get tangled up in the estate assets and liabilities.

Life insurance payments don't get included in assets and liabilities.Gets payed out directly to beneficiary named on the policy.Doesn't go through probate like other assets might.

 

[notthemama]

My ex if she's willing to join me.

 

[IM469]

I leave it all in a trust to the first person who can bring me back. Fuck the rest.:thumb:

I see a Weekend at Bernies part II coming ....

 

[interactive]

Life insurance payments don't get included in assets and liabilities.Gets payed out directly to beneficiary named on the policy.Doesn't go through probate like other assets might.

Yes Joe - if you have a named beneficiary. That was my point. If your estate is the beneficiary (as so many are) it will join the tangled mess. To be clear - Life insurance DOES get included in your estate UNLESS you have a named beneficary. Plus beneficiary gets the moolah way way quicker than waiting for an estate to get settled.

 

[happ]

How's it done for Filipino citizens of Ontario born in Philippines, and wants to leave their property to a family member in Philippines, Dubai or another country outside Canada. What's the simplest way for them to avoid taxes and delays on death. A principle residence doesnt go thru probate right?

 

[Timbit]

It is my understanding that unlike an RRIF/RRSP, if you declare a benificiary for the TFSA it doesn't go through the estate either and bypasses the will process.
Is this true?

Essentially correct. The difference is really the tax treatment. Unless the beneficiary of the RIF/RSP is a spouse, it comes out as income in the year of death and is therefore taxed as income. A TFSA does not create an income tax burden and hence flows through to the beneficiary without tax.

Timbit

 

[happ]

How's it done for Filipino citizens of Ontario born in Philippines, and wants to leave their property to a family member in Philippines, Dubai or another country outside Canada. What's the simplest way for them to avoid taxes and delays on death. A principle residence doesnt go thru probate right?

 

[james t kirk]

I'd probably divide it up among a university or two and some worthwhile charities.

 

[calib]

create a bucket list, enjoy life, you only live once