The Canadian Money Roadmap Estate Planning Essentials with Aaron Hector
Jul 23, 2025
Aaron Hector, a senior wealth advisor and founding partner of TIER Wealth, shares his expertise on estate planning essentials. He explains the importance of wills, powers of attorney, and healthcare directives for all adults. The conversation highlights the challenges of choosing an executor, including potential family conflicts and the value of local executors. Listeners learn why proactive estate planning can minimize tax burdens and ensure wishes are honored, all while encouraging regular updates to your estate plan.
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Early Estate Planning Essentials
- Get a will, power of attorney, and health care directive early in adulthood as they protect you while alive and after death.
- These documents ensure others can manage your finances and health decisions if you become unable to do so yourself.
Immediate Power of Attorney Benefits
- Consider making your power of attorney effective immediately, not just upon incapacity, to ease gradual cognitive decline.
- This reduces awkward medical attestations and allows trusted spouses to help manage finances more gracefully.
Choosing the Right Executor
- Choose an executor with financial knowledge and good family relationships to reduce conflicts and manage estate efficiently.
- If no suitable person exists, consider hiring a corporate executor despite fees for impartial administration.