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  • Solutions Centre



    • Welcome to the Synergy Solutions Centre!

    Just click on the one of the questions below and you'll get a simple answer. If the question you have doesn't appear on this list, feel free to ask us and we'll be happy to help you in any way we can.

    You can "search" through the questions and answers by entering keyword(s) into our search box. Or you can categorize the questions listed by a category name, such as borrowing or wealth services, by selecting one of the categories from the drop-down menu from our main page. You can also comment on each of these questions by providing a comment on our answer, where we could provide additional answers.



    Estate Planning

    Do i need a lawyer to do up a will or can i do up my own? If i do my own, is it legal?

    Goldie, you are not required to use a lawyer to draft a Will. You can draft one on your own which is called a holograph Will. A holograph Will is a Will that is completely handwritten by the testator (you in this case). That s very important. You must handwrite the entire document, a...   more...

    A widowed mother in her 70’s has just revealed to her son and daughter-in-law that she has no legal will. She has all of her financial accounts at one bank, and has verbally told her children that “whatever money is left in those accounts when I die” should be divided evenly among her grandchildren. Her son feels she needs to know what happens to those accounts without a will in place.

    If you pass away without a will, there is one thing you will almost certainly be leaving to your family: an emotionally draining and potentially expensive burden. Unfortunately, you won t be able to step in to say, Wait a minute! This is what I wanted. This is how we ll settle it. Fortunately, y...   more...

    In terms of my estate, do my children have to pay capital gains tax on my investments, etc.?

    To answer your question, the assumption is that these investments are non-registered, and in your name only. If that is the case they are all deemed to be sold on your date of death and your estate will be liable for any capital gains accrued to that day. The net difference that emerges from your e...   more...

    My husband and I don't have a will. We're not sure where to start or if writing our own is the way to go. I was told once that Synergy has someone who can help out with this. Do you have such a person?

    You ask if Synergy has someone to help. Yes we do. A Trust Services Representative at Synergy Credit Union can help you develop a plan that outlines how you would like your loved ones provided for and how you want your estate to be divided and distributed. A good plan can help you maximize your...   more...

    My husband and i are currently doing up our will and estate. Is there anyone that can help us?

    Estate planning is a fundamental part of any financial plan, and is too often seen as the preserve of the rich and retired. That s probably why far too many Canadian adults don t even have a Will. Yet without a proper plan in place, the most catastrophic impact is faced by families at a time when t...   more...

    If I was to set-up a trust fund for one of my grandchildren to use towards furthuring their education after high school, and they used this money for tuition fees, would they have to pay interest on this money if its being used for education?

    Your question is referring to the tax consequences associated with funds targeted for education purposes, and the simple answer would be, No, the child would not be taxed on the income, however the creator of the trust would be . Having said that, you have several options available for this purpos...   more...

    What would happen to my accounts and investments if I pass away with out a will in place?

    When a person passes away as a Saskatchewan resident with accounts that are solely owned and investments non-registered, they would be paid to your estate. Without a Will, no one can manage your affairs until an administrator is appointed. The estate is held in limbo until this step is completed...   more...