Last Will and Testament
It specifies how your assets will be divided and designates a guardian of your minor children and a guardian of your pets.
Depending on the complexity of your estate, you can do this using an online form or have a lawyer prepare it for you.
Power of Attorney (POA) for Personal Care
Designates someone to make healthcare decisions for you when you cannot make them yourself.
You can do this free with a downloadable kit or have a lawyer prepare it.
Power of Attorney (POA) for Property
Designates someone to make financial decisions and manage your property on your behalf.
You can do this free with a downloadable kit or have a lawyer prepare it.
Living Will (aka Advance Directive, Advance Care Directive, or Representation Agreement)
Designates someone to make healthcare decisions for you about life-saving medical interventions and gives instructions to healthcare providers about what to do if you become unresponsive and need such an intervention. These instructions can also be stated in your POA for Personal Care.
You can do this free with a downloadable kit or have a lawyer prepare it. This will vary by province: be sure to choose the right one.
Beneficiary designations for non-probate assets
Some assets transfer to the beneficiary without going through probate, including life insurance death benefits, your CPP death benefit, RPPs, RRSPs, RRIFs, TFSAs, and RDSPs. Designate beneficiaries for them; otherwise, they’ll go to your estate and probate court.
Designate a beneficiary through each asset individually.
Pet Trust
Designates someone to look after your pets after you pass away and provide for their financial needs.
It can be included in your will or set up as a separate trust. Research the details, as the laws vary by province.
Life Insurance
It provides your family with funds to cover final expenses and gives them financial protection.
Purchase from a life insurance provider or a licensed insurance broker.
Usernames, passwords, and instructions for digital assets
Ensures your loved ones can access any digital accounts you have.
Record this information and store it in a secure location such as an online password keeper.
Funeral instructions and preferences
It ensures you have the memorial service you want and prevents disagreements among your loved ones. It also specifies the disposition of your remains.
You’ll need to make arrangements with a funeral home and pre-pay if possible. Discuss your plans with your family and set everything out in writing.
Conclusion
Talking about your death can be uncomfortable, but it will save your loved one’s anxiety and family strife when they need peace and security the most. As you have these conversations, it will normalize talking about death, so it’s not as difficult the next time you have to discuss your plans with your family.