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Wills and estate planning – Canada Life

A will and estate plan can make sure your wishes are taken care of after you die. Learn more: www.canadalife.com/investing-saving/estate-planning.html

Video transcript:

Description: This video combines footage, text and illustrations to explain the importance of wills and estate planning.
Narrator: We’ve all heard about someone who’s “getting their affairs in order.” What they really mean is having an estate plan.
Description: A middle-aged woman puts on her glasses. She types on her laptop at the kitchen table.
Narrator: As part of a complete financial plan, an estate plan gives you a say about what happens to your assets after you pass.
Description: Text “An estate plan” fades into the frame.
Narrator: An estate plan does four important things.
Description: “An estate plan” moves to the left and shrinks. More text is added to read “An estate plan does 4 important things.”
Narrator: Help protect your assets.
Description: An illustration of a shield animates onto the frame with the text “Protect your assets” below it.
Narrator: Avoid family conflict.
Description: An illustration of two people talking animates onto the frame with the text “Avoid family conflict” below it. The previous illustration and text move to the left.
Narrator: Transfer your wealth without paying more in taxes and estate fees. This could include leaving assets to loved ones or a charity, cause or organization dear to you.
Description: An illustration of a hand passing money animates onto the frame with the text “Transfer your wealth” below it. Previous illustrations and text move left to accommodate.
Narrator: And pay off any unpaid debt when you die.
Description: A symbol of a person carrying a large credit card animates onto the frame with the text “Pay off unpaid debt” below it. The previous illustrations and text move left to accommodate.
Narrator: Your estate plan should include three things.
Description: The illustrations and text fade out of frame. Cut back to the woman in her kitchen making pancakes.
Narrator: A will that lets everyone know what you want to happen to your money, property and other assets after you pass. It can also define who cares for your children, or even your pet.
Description: On the left, text “A will” animates onto frame while the right shows a young boy cheerfully running behind his mother while she cooks. He grabs some fruit from a bowl then sits at the kitchen table with his older brother. The woman pours them a glass of orange juice.
Narrator: A power of attorney that gives one or more people the authority to make financial or medical decisions for you if you’re not capable due to an injury or illness.
Description: Text “A power of attorney” is added underneath “A will” to create a list on the left. A group of adults and children sit at a large table to share a meal. A bearded man tells a joke and everyone laughs.
Narrator: Named beneficiaries on your financial accounts and insurance policies so your assets will be distributed quickly after your death.
Description: Text “Named beneficiaries” is added to the list. The woman looks down and cuts a piece of apple pie. She carefully lifts it and places it onto the plate of one of the guests at the table.
Narrator: Lots of people think you only need an estate plan when you get older.
Description: A dice rolls into focus over a game board.
Narrator: However, because the unexpected could happen anytime, every adult should have one.
Description: The woman sits on the floor with her two sons and dog. The board and snacks rest on an ottoman between them. She laughs as her older son passes her a card.
Narrator: Your advisor, lawyer, notary or tax professional can help you build a complete estate plan.
Description: Each word fades into the frame as they are spoken until the full phrase is completed.
Description: The Canada Life logo animates onto the frame. A legal line appears: “Canada Life and design and My Canada Life at Work are trademarks of The Canada Life Assurance Company. mycanadalifeatwork.com 1-800-724-3402.”