People have always sought out new and innovative ways to reduce or avoid taxes. In estate planning, some of the more traditional methods have included designating a beneficiary directly in an insurance policy or naming a joint account holder with a right of survivorship. Multiple wills are another effective technique and as a result, have become increasingly popular over the last decade.

If you're getting married, you need to think about your will. In Ontario and some other provinces, getting married revokes your existing will. While there are limited exceptions to this, the document sitting on your (or your lawyer's) shelf is likely a number of years old and does not take this into account.