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Wealth Management

Information centre

My estate

The possibility of leaving more to your loved ones for Jocelyne Landry - Smart planner

Planning your estate transfer and your assets

We all want to leave more than memories after we’re gone. We want to know that our money, possessions and estate are passed down to our loved ones according to our wishes and without hassle.

Before writing your will, draw up an estate plan following these 3 steps:

  1. Calculate the net worth of your estate
  2. Determine the best strategy to maximize your loved one’s inheritance
  3. Decide how your assets will be divided and transferred
1. Calculate the net worth of your estate

Before deciding on how to divide your estate, you need a clear picture of what you’re leaving behind. You’ll need to:

  • Fill out the inventory of assets
  • Calculate the value of your assets
  • Calculate estate taxes
  • Estimate the funds that will be immediately available to your heirs

You’re deemed to have sold all your assets when you die, and the tax bill may decrease the inheritance you leave to your loved ones. The tax bill has to be paid in cash, so an estate inventory will determine if your heirs will receive the funds they need or if they’ll have to sell your possessions to pay for the estate taxes and your funeral.

Based on your inventory of assets, a Desjardins advisor can help you establish your estate inventory and answer your questions free of charge.

Inventory of assets

List your assets and documents gathers in one document all the information your loved ones will need.

Download inventory of assets - This link will open in a new window. (PDF, 1.1 MB)

The estate inventory that lists:

  • The value of your assets (what you own)
  • The value of your liabilities (debts and financial obligations)
  • Estate taxes

The main purpose of drawing up an inventory of your estate is to calculate estate taxes.

2. Determine the best strategy to maximize your loved ones’ inheritance

Based on your estate inventory, your Desjardins advisor can:

  • Re-evaluate your investment strategy to minimize your estate taxes

They can also provide options to maximize your estate after taxes, such as:

  • Create a living or testamentary trust
  • Freeze your estate
  • Take out a life insurance policy
  • Make a donation during your lifetime or upon death

With a financial plan and the support of professionals in the field, you can pick the right strategy to maximize your estate.

3. Decide how your assets will be divided and transferred

With an estate inventory and a plan to maximize your loved ones’ inheritance, you’ll have all the information you need to divide your estate among your heirs and plan the transfer of your assets. You can then:

  • Write your will
  • Prepare a protection mandate1
  • Divide your estate according to your wishes
  • Choose your liquidator2 and an advisory team to provide support

Follow these steps to ensure your family’s well-being after you’re gone.

A Desjardins advisor can help you take stock of your financial situation—it’s free and completely confidential. They'll tell you about your options and refer you to specialized resources. A number of these options and resources are available to Desjardins members at no cost.

Taking inventory of your estate will also help you determine if any changes need to be made to an existing will.

Desjardins advisors are trained to help you plan your estate transfer and can provide you with additional information to guide you.

Any questions? Please write us:
questions@desjardins.com

Managing an inheritance: don't get caught off guard

Discuss your inheritance with your parents to avoid any unpleasant surprises.

Don't wait to talk to your parents. Find out if they have a will, and where they keep their important documents. Encourage them to make an inventory of their assets (PDF, 1,8 mb), and keep it up to date. You'll be glad you did down the line; having the right information will allow you to respect their wishes and focus on getting your family through a difficult time.

You can count on support from your wealth management advisor

Your Desjardins wealth management advisor is there to guide you through the process so you feel comfortable making the right decisions based on your needs.

For example, your advisor can help you:

  • Get a better picture of your financial situation by assessing your needs and giving you personalized recommendations
  • Make informed decisions on the use or investment of your inheritance
  • Ensure that you pay the least possible income tax on the assets you inherited
  • Manage your assets so that you can make the most of your inheritance while letting it grow
  • Administer, if needed, a testamentary trust with guidance provided by Desjardins Private Wealth Management Trust services3
Any questions? Please write us:
questions@desjardins.com

6 REASONS TO MEET WITH YOUR ADVISOR

REASON 1

So you know what to do when it's your turn to plan your estate. It's never too early to start thinking about the future.

REASON 2

Because your advisor will guide you through the entire process, helping you give your parents all the information they need to do a comprehensive inventory of their assets.

REASON 3

So you have a better handle on the wishes of your parents today to make the right decisions for tomorrow. Settling an estate is no small feat.

REASON 4

So you have the right words to tell your parents about the benefits of meeting with an advisor, ensuring that their financial strategies truly reflect their wishes.

REASON 5

So you understand how taxation works after they pass and avoid nasty surprises regarding your inheritance.

REASON 6

So you can start a dialogue with your parents and respect their wishes, which will keep your family united upon their passing.

Your parents estate planning - 6 reasons to meet an advisor

Settling an estate

A parent or loved one asked you to settle their estate. No doubt you're touched by the trust they've placed in you, but maybe also a little nervous about your responsibilities. It's understandable to feel a little uncertain when you're asked to carry out the role; no matter the size of the estate, it's a big responsibility.

Count on support from your wealth management advisor

Your wealth management advisor is there to walk you through the estate settlement process.

Estate Assistance service

Desjardins offers an Estate Assistance service to help you save time and energy, and to ensure that the estate settlement process runs smoothly.

Any questions? Please write us:
questions@desjardins.com
  1. Under the Civil Code of Quebec; continuing power of attorney for property in Ontario.
  2. Under the Civil Code of Quebec; estate trustee in Ontario.
  3. Desjardins Private Wealth Management trust services are provided in Quebec only by Desjardins Trust Inc., a federal trust and financial planning firm.

Inventory of assets

List your assets and documents gathers in one document all the information your loved ones will need.

Download Inventory of assets (PDF, 1.1 MB) - This link will open in a new window.

Estate Assistance service

Exclusive Advantage for Members

For legal information about planning, settlement and management matters, call

1 855 559-5501

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