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Interplanetary Estate Planning

By Gerry W. Beyer

Mars

Over 60 Canadians haveapplied for four available spots on a one-way trip to Mars. This voyage is plannedby non-profit Mars One in an effort to colonize the planet by 2023.

Estate planners may never haveto advise an interplanetary traveller as a client, but it wouldn’t be a badidea to treat every client as if they were one. Asking clients to consider what they would want to happen to theirestate if they were to leave Earth tomorrow is a good way to get them thinkingabout their future estate plans.

If their client is leavingthe country permanently, advisors need to ensure they have a disposition oftheir assets in place and to take steps to secure any existing life insurancepolicies.

SeeHeather Li, Estate Planning for MartianPioneers, Advisor.ca, June 24, 2013.

Special thanks toJim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringingthis article to my attention.

Posted in:
Estate Planning - Generally, Humor and Non-Probate Assets