Estate Planning
Certain taxes will be triggered under the deemed disposition rule.  Careful advice and planning may reduce or avoid this.  

Probate
Upon the death of a person, the estate belonging to the deceased has to be divided between the people to whom the deceased wanted the estate to go. This is determined via a will, which is written and witnessed by the deceased during his or her lifetimes. In the event that there is no will – perhaps one was not left by the deceased or the will cannot be found – succession law reform act determines who inherits the estate, and in some cases it may actually go to the Province if there is no natural beneficiary to be found. These processes are known as probate.

Trusts
Generally, a trust is a right in property (real or personal) which is held in a fiduciary relationship by one party for the benefit of another. The trustee is the one who holds title to the trust property, and the beneficiary is the person who receives the benefits of the trust.

Wills
A will is a legal paper that clarifies what your assets are and whom your chosen beneficiaries are. The will is an important document that is used in the probate process after your death to ensure that all of your assets are given to the rightful beneficiaries as per your wishes and instructions.