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Death in Family without Estate Planning - Actual Case  One of the things that I keep seeing over and over again is senior citizen's with no plan in place for their financial affairs when they pass on. I believe the reason for this is they won't trust anyone to do it for them, and they simply don't know how to do it themselves. So most choose to do nothing.  Well I'm here to tell ya that the federal government of Canada sure knows what to do with their money after they're gone.  Don't allow Revenue Canada to be your biggest beneficiary. Make a plan, seek out advise from a qualified professional. Do it now.  Let me relate the following true story.    - Father and mother own a family homestead in Cape Breton. They have one daughter who moved to Halifax several years ago. The home is a 9 bedroom farmhouse situated on 5 acres of land. The approximate value of the property is $120,000. The property has been exceptionally well maintained by the father.  - 1988 the mother passes away. The father decides to have his will amended so that the family home can pass directly to his daughter when he dies. The daughter, who hopes to use the farmhouse as a summer retreat for her and her future family, has expressed an interest in renting out the property in the meantime.  - The fathers best friend from the area has been appointed as the executor of his will.  - Upon the fathers death the executor registers the will with the probate court of Nova Scotia, so that he can pass the home to the daughter. Only to find that the daughter has two legal judgments against her for debts outstanding.  The liens have automatically attached themselves to the estate of the deceased, since the daughter is the sole heir.  - It turns out that the daughter had two unpaid debts; 1) a student loan for $18,000, and 2) an unpaid invoice to a Halifax lawyer for $8000. Both of which are dating back several years.  - The father was not aware of these debts before his death, and there is not enough money in the estate to pay them off on behalf of the daughter. Meanwhile the executor can't execute the will, since he can't transfer free and clear title to the property, due to the liens. The daughter who's working two part-time jobs, does not have the money to pay the debts, nor can she borrow against the house, since she doesn't  yet have title to the property.  Conclusion:  - After one year from the date of death, the executor is forced by the creditors to put the property up for a forced sale. The home eventually sells for $68,000, (to a doctor and his wife from Ontario, who plan to make it into a Bed & Breakfast). After the estate pays the debts of the daughter, and the executors fees. The daughter was left with $37,000, and the homestead that had been in the family for four generations was gone.  A two hour conversation with a qualified financial/estate planner before the fathers death, and this all could have been avoided.