Estate Planning Checklist

Retirement Income Planning, Calgary

Estate Planning Checklist

Taking Inventory

Define your goals and objectives

  • How important is it for you to leave an inheritance
  • To whom will you leave an inheritance
  • How much will you leave each person

Evaluate your objectives

  1. How will you achieve your goals
  2. What are the tax consequences


How can you meet your objectives

  1. Will - review and update
  2. The use of trusts
  3. Minor beneficiaries & appointment of Trustee
  4. Power of Attorney
  5. Enduring Power of Attorney

What Advisors do you need to help with your estate

  1. Is your current advisor capable of doing the estate plan
  2. Accountant
  3. Lawyer
  4. Funeral Director
  5. Insurance agents

Periodic review of your estate plan

  1. Has any beneficiary pre-deceased you?
  2. Updating beneficiaries
  3. Has there been a change to the family dynamic
  4. Incapacitation
  5. Mariage breakup, blended family
  6. Change of asset status


Estate and Financial Planning Strategies:

Joint Last to Die Life Insurance Policy

Insured Annuity

Prescribed Annuity

Dependent’s Relief & Spousal Rights

Spousal Roll Over Provisions

Property Ownership

     -Joint with Rights of Survivorship

     -Tenants in Common

Cash Surrender Life Insurance Policy

Estate Liquidity Solutions

Inter Vivos Trust

Alter Ego Trust

Spousal Trust

Testamentary Trust

Irrevocable Trust

Charitable Giving Trust

Family Trust

Funding a Trust with Insurance

Charitable Giving in Year of Death

Treatment of Allowable Capital Tax Loss in Year of Death

No Attribution Beyond the Grave

Principal Residence Deduction and Selection

Named Beneficiaries

Spousal RRSP contribution in the year of death

Electing out of a spousal rollover

The 36 Month Rule


Will Substitutes

Tax Planning Solutions:

-income splitting with CPP

-RRSP withdrawal strategy to reduce taxes

-RRIF conversion timing

-Age 65 tax credit

-$2000 per year from your RRSP tax-free

-Pension splitting

-CPP and OAS timing

-selling major asset

-retirement packages or termination packages


4 Potential Tax Returns of a Deceased Tax Payer:

    1. Rights and Things

    2. Partnership/Sole Proprietor Tax Return

    3. Testamentary Trust Income

    4. Terminal Tax Return


Portfolio/Investments and Guaranteed Retirement Income we offer:

  • All types of Annuities
  • Discretionary Managed Portfolios
  • GIC’s
  • Guaranteed Monthly Withdrawal Benefits
  • Guaranteed income for life products
  • Systematic withdrawal plans
  • Alternative investment strategies in private equity
  • Investments for growth and yield or hybrid models
  • Long-term care strategies
  • Options for Commuting a defined benefit or defined contribution group pensions

For Incorporated Business Owners Only:

Estate Freeze

Section 85 Roll Over

Section 86 Reorganization

Holding Company

Estate Equalization

Buy/Sell agreement and funding options

Individual pension plans

Advantages of Corporately owned insurance


It's important in retirement to have a trusted advisor that you can work with for many years to come. 55% of pre-retirees will change advisors when they transition to retirement because they realize they need specialized planning with a focus on income protection.

If you are in or close to retirement and would like to meet with us to put together a retirement income plan, book time in our calendar for a meeting time. We'll also discuss:

  1. How long will my money last?

  2. How much can I spend each year and still have confidence that I won't run out of money?

  3. When should I take CPP and OAS? 

  4. Which of my assets should I spend first to create tax-efficient income?

  5. How much should I be saving now so that I can generate the income I'll want in retirement?

We can help you create a sustainable, predictable cash flow from your portfolio in the most tax-efficient manner to ensure you never have to worry about running out of money.

Want to retire in the next few years? Click here to Book  a Meeting


Willis and Nancy Langford

Retirement Income & Investment Planners


Call us at 587-755-0159


All the best in your planning and we hope that we have been able to help you in some small way on your journey to a happy and worry-free retirement.

Nancy and I take pride in our independent approach to planning and can say that no outside firm has any vested interest in our business, nor do we have to promote proprietary products that best serve some corporate objectives. All of our investments platforms offer the same or similar investor protections as all other financial institutions in Canada.


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Partnering up with Willis & Nancy for our retirement goals has been the best decision we have ever made.

Previous agents or companies only seemed interested in obtaining funds from us with no further support or contact.

Willis & Nancy have worked with us at least twice a year to make sure we are set up for success. They have been able to provide us with a visual picture of where we currently stand financially in order to determine if we are ready to retire or need a few more years. It has alleviated the stress we were feeling about retiring and having no idea of what that would look like.

For the first time, we feel confident that when we make that final decision we will be able to continue on and be financially and mentally prepared.

Deb & Garry

Debbie & Garry
Long-term Clients

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