You Can't Take it With You

by Sandra E. Foster

More planning goes into estate planning than most people realize. Because it has implications beyond legal, tax, and family dynamics, leaving a financial legacy involves more than deathbed whispers. Sandra Foster's framework for estate planning in You Can't Take It With You consists of the six D's: decide, design, develop, discuss, document, and distribute. Charts and checklists in the companion Estate Planning Workbook (sold separately) assist with the six steps. You want to follow the advice in You Can't Take It With You as much for your children as for yourself. With practical examples, tips, tables, summaries, what-ifs, and Q&A, it covers wills, powers of attorney, taxes, guardianship for minor children, and funeral planning--all the areas we would rather not think about but must if we are going to leave something for our families. It's not a do-it-yourself book, but rather an aid to help you navigate the process and prepare you to talk to the lawyers, accountants, financial planners, and trustees who have to be consulted.

"Estate Planning is not something reserved for the elderly," Foster explains. "It is as much about life as it is about death." Nor is it just for the fabulously wealthy; anyone who owns a dwelling, has some jewellery or family heirlooms stashed away, or a savings account should plan their estate. Besides, if you don't decide what to do with your wealth while you're alive, the government could distribute it for you after you're gone. --Edward Trapunski

Genres: Nonfiction, How To

256 pages, Paperback

First published January 1, 1998

Reviews

[Andre · Rating 4 out of 5]

I've read most of this material before, but what is good about this book is it places all the things you need to think about in one place. If you are a person, and you live in Canada, and you are going to die... then read this book and get your estate in place. (which reminds me I should reread my will, check on my life insurance, etc. it's been a minute since I did all that.)

[Peter]

Did not read this, as it's from 1998.
I will read a more up-to-date alternative from the Nmkt library.

Owned book.

[Laura (Kyahgirl) · Rating 4 out of 5]

I thought this was an excellent book for Canadians doing estate planning. The book touches on many important topics, the least of which is why you should do estate planning in the first place. The book is written in a simple, easy to follow style.

The topics I found useful were tax considerations for your estate plan, the uses for life insurance, an how Trusts work. God forbid that my husband and I both die while our children are young but its critical for us to have a plan for what to do with our property and money that they will inherit. Obviously, someone will have to take care of it for them until they can manage it on their own. This requires a trust. There is a lot to think about and plan for.

This book is in its fifth edition because it IS such a good book and a valuable resource. Read it.

[Joanne Bell · Rating 4 out of 5]

A Canadian book with very helpful information about financial planning. There is also a supplemental workbook available.

[Earl Inglis · Rating 3 out of 5]

Good security ideas