The Importance of Estate Planning for Newcomers with Calgary Wills and Estates Lawyer Sarah O’Keefe | Episode 56

<p>Calgary immigration lawyer Evelyn Ackah spoke with&nbsp;Sarah O'Keefe, a&nbsp;Calgary&nbsp;Wills and Estates Lawyer, about the importance of&nbsp;estate planning for newcomers to Canada. Immigrants to Canada&nbsp;have worked really hard to get here.&nbsp;And when they do&nbsp;get to Canada, their families, their assets, their investments&nbsp;have to be protected. If&nbsp;newcomers don't put the correct legal Canadian documents&nbsp;in place -&nbsp;&nbsp;a will, power of attorney and a healthcare directive - they can't protect their legacy, the intergenerational wealth that they've worked so hard to acquire. They or their loved ones will&nbsp;need to go to&nbsp;court to get protections, access&nbsp;&nbsp;and authorizations, which can be avoided by proactive estate planning.</p><p>Evelyn and Sarah discuss the importance&nbsp;of estate planning for immigrants to Canada including:</p><ul><li>April 16th is advanced healthcare directive day in Canada</li><li>The importance of a healthcare directive for expats in Canada, whether they are staying for 3 years or permanently</li><li>Why a will and other estate planning documents from their home country are not sufficient for immigrants living in Canada</li><li>How a power of attorney and healthcare directive can prevent family stress and fighting</li><li>Taxation of trust for minor children/children with testamentary trusts set up (jurisdiction change of trust)</li><li>Frequency of travel, making the living documents important</li><li>Future Probate Concerns: Executor&nbsp;having appropriate backups/intestate where bond is&nbsp;required for out of province/country family members</li><li>Specific language re funeral arrangements. These can be incorporated into the Will ensuring compliance with culturally specific rituals</li><li>Ensuring the preservation of 'intergenerational wealth' for the family through the utilization of trusts (guarding against creditors, matrimonial breakdown and lawsuits)</li></ul><br/><p><strong>About Evelyn Ackah</strong></p><p>Evelyn Ackah