Today it is common to co-habit
instead of getting married. After all it is just a piece of paper.
Who needs it to prove your love. You are committed to each other so
why bother with the hassle and expense of getting married.
You may want to re-consider this
decision to forgo marriage in favour of living together. Do you realize
that if you are living together when your partner passes away and there is no
will, you may be out of luck getting your share of the estate?
Any children you have together or if
your partner has children, would be entitled to the full estate. You
would have to apply to the courts to get some kind of support if you were
dependent on your partner to live. This means you are taking the children
to court to get some of their entitled inheritance. How do you think this
would affect your relationship with the children? If you were financially
providing for yourself, your chances of getting a share of the estate could be
slim.
Any old insurance policies that have
not had the beneficiaries updated could also exclude you in the event of an
unexpected death even if there was a will.
Know your rights and make an
informed decision regarding whether to marry or co-habit. This is a time
when surprises could affect your future in a negative way.
Linda
J. Levesque, CFP®, FMA, FCSI
Sr.
Investment Advisor
Director,
Private Client Group
HollisWealth Insurance Advisor
HollisWealth Insurance Advisor
HollisWealth
Insurance Agency Ltd.
Levesque
Wealth Planning
HollisWealth,
a division of Scotia Capital Inc.
One Corporate Plaza, 2075 Kennedy Road, 5th Floor, Toronto, ON M1T 3V3
Tel: 416-412-8018 / 1-800-322-4030 Fax: 416-332-6772
linda@levesquewealthplanning.com
One Corporate Plaza, 2075 Kennedy Road, 5th Floor, Toronto, ON M1T 3V3
Tel: 416-412-8018 / 1-800-322-4030 Fax: 416-332-6772
linda@levesquewealthplanning.com
‘Saving Today for a Richer
Tomorrow’™
WANT
TO USE THIS ARTICLE IN YOUR WEB SITE?
You
can, as long as you include this complete statement with it: Linda J. Levesque,
Senior Investment
Advisor
and Director, Private Client Group of HollisWealth is an author in The Authorities,
Powerful Wisdom from Leaders in the Field. If you're ready to jump-start your life, have
more fun and joy in all that you do,
get a FREE consultation from Linda J. Levesque
This
article was prepared solely by Linda J. Levesque who is a registered
representative of HollisWealth® HollisWealth
is a trade name of Scotia Capital Inc. and HollisWealth Insurance Agency
Ltd. HollisWealth is a division of Scotia Capital Inc., a member of the
Canadian Investor Protection Fund and the Investment Industry Regulatory
Organization of Canada. Brokerage services provided by HollisWealth are
provided through Scotia Capital Inc. Insurance products provided by
HollisWealth are provided through HollisWealth Insurance Agency Ltd. ®
Registered trademark of The Bank of Nova Scotia, used under licence. The views
and opinions, including any recommendations, expressed in this article are those of Linda J. Levesque alone and not those of HollisWealth.
Levesque Wealth Planning is a personal trade name of Linda J.
Levesque.
