The Wealthy Barber Podcast #32 — Leanne Kaufman: The Do’s and Don’ts of Estate Planning
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Nov 18, 2025 Leanne Kaufman, President and CEO of RBC Royal Trust and a lawyer specializing in estate planning, shares invaluable insights. She emphasizes why every Canadian needs a will and the real costs involved in securing one. The conversation delves into the qualities of an ideal executor and the pros and cons of choosing family members versus corporate executors. Leanne also highlights the significance of a ‘When I Die’ binder to ease the process for loved ones and discusses the complexities surrounding joint ownership and trusts.
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Don't Overlook Powers Of Attorney
- Prepare both powers of attorney for property and for personal care; they govern decisions while you're alive.
- Treat powers of attorney with as much care as your will because they act during incapacity.
Make POAs Effective Immediately
- Allow POAs to be effective immediately; avoid 'springing' powers that require formal incapacity findings.
- Monitor attorneys and revoke or change the POA if misuse occurs while you retain capacity.
Always Name Alternates And Backups
- Name alternate and secondary attorneys and executors to prevent court applications if primary choices can't serve.
- Go beyond a single backup when both spouses are elderly to ensure continuity.