Estate Planning 101 with the "Tax Chick" Amanda Doucette Artwork

beyond MD with Dr. Yatin Chadha

Financial literacy is not emphasized enough for professionals during training, leaving many unprepared as they begin their careers. The topics covered in beyond MD apply to all professionals, including medical students/residents and practicing physicians. This podcast is led by radiologist Dr. Yatin Chadha and guided by expert analysis. Each episode, Yatin interviews accountants, lawyers, brokers, and advisors to heighten awareness on important topics, such as professional corporations, holding companies, trusts, estate planning, insurance policies, mortgages, real estate, and investing. It's time to take your financial knowledge base to the next level so you can get ahead outside of the workplace. Please send questions and topics of interest to beyondmdpodcast@gmail.com

All Episodes

beyond MD with Dr. Yatin Chadha

Estate Planning 101 with the "Tax Chick" Amanda Doucette

June 09, 2022 • Season 1 • Episode 28

In this episode I host Amanda Doucette, TEP. Amanda is a tax lawyer & founder of the Tax Chick Podcast and Blog, which are wonderful resources for anyone wanting to learn more about tax and estate planning.

Discussion points:
- when to start estate planning (8;35)
- essential documents (11:12)
- durable vs springing power of attorney (14:05)
- POA: who to choose, including trust companies (16:00)
- summary of wills (18:45)
- what happens if you pass away without a will (21:16)
- what is probate? (23:19)
- pros/cons of joint ownership (28:44)
- beneficiary designations (32:47)
- choosing an executor (36:36)
- executor liability insurance (38:55)
- basic overview of tax considerations (40:39)
- RRSP: what happens (44:42)
- life insurance: what happens (45:39)
- preferential assets? (46:55)
- tips on communicating with your family (49:24)
- DIY estate planning vs getting professional help (51:14)
- questions to ask an estate lawyer (55:31)

Links to Amanda's work

Tax Chick podcast - https://podcasts.apple.com/ca/podcast/the-tax-chick-podcast/id1525089244
The Tax Chick Blog - https://taxchickca.wordpress.com;
Connect with me by email: thetaxchickpodcast@gmail.com
LinkedIn: https://www.linkedin.com/in/amandasadoucette
Instagram: @tax.chick
Sign up for my Newsletter, "Musings of a Tax Chick": http://eepurl.com/hNbXcb

Resources discussed in the episode:

WillPower: https://www.willpower.ca/
Public Legal Education Association of Saskatchewan: https://www.plea.org/