Wills & Estate Planning for Parents: The Basics You Can’t Ignore | Eli The Money Guy

Wills and estates can sound intimidating—but they don’t have to be. In this episode, Eli breaks down the basics of what a will actually is, what an estate includes, and why having a plan matters more than most families realize.You’ll learn what happens if you don’t have a will, the key decisions every will should cover, and the common misconceptions that stop people from getting started. This episode is about understanding the foundation—so you can make informed, confident choices that protect the people you care about.Whether you’re just starting to think about estate planning or putting it off because it feels overwhelming, this conversation makes the essentials clear, practical, and approachable.Show Links:Website  ⁠upfinancial.ca⁠Youtube: ⁠www.youtube.com/@elithemoneyguy⁠TikTok  ⁠tiktok.com/@elithemoneyguy⁠Instagram  ⁠instagram.com/elithemoneyguy⁠Facebook  ⁠facebook.com/upfinancial⁠Chapters List:00:00 Navigating Financial Support for Kids00:32 Understanding Trusts and Estate Planning04:03 Informal vs. Formal Trusts07:40 Balancing Support and Independence10:22 Planning Inheritance: When and How?11:32 Guardianship and Child Welfare12:41 Understanding TFSAs and RESPs14:07 Gifting: Now vs. Later15:45 Supporting Adult Children Financially17:22 Instilling Financial Values in Children