I want to know about the following case study, please help. It is related to estate planning. The estate planning has to be done in the jurisdiction of Ontario, Canada.

Before his death, Peter Griffin signed a will that created a trust for any children who are minors (or grandchildren who are minors if any of his children predeceased him) at the time of his death. Half of his estate will pass to his wife (Lois) if she survives him, and the other half will go to his children "in equal shares per stirpes".

Peter had significant assets, including a portfolio of stocks, bonds, and mutual funds worth $1,500,000, a house held jointly with his wife worth $2,150,000, and various other assets held by him worth $450,000. He also had a life insurance policy of $500,000 on his life, which named his children (Chris, Meg and Stewie) as beneficiaries. His will stipulated that the share for any beneficiary who was still a minor would go into the trust for minors anticipated in his will. His final expenses (taxes, funeral, etc.) are estimated to be $40,000.

His wife, Lois , survives Peter. Peter had 3 children. Chris is now 34. Stewie is now 31. His daughter, Meg, predeceased him. Meg had two children, Bellamy and Ophelia, who are now ages 4 and 6.

Stage 1: Executor assumes control

1. What happens during this stage?

Stage 2: Estate is settled -

2. Now that Peter has died, what happens to each of his assets?

3. Draw a chart to illustrate how the residue of Peter's estate will be distributed.

4. Compare Per Stirpes and Per Capita

Stage 3: Operation of the trust -

5. Who would you (if you were Peter) select as trustees?

6. Describe the role of the trustees.

7. How will the trust income be taxed?

8. Describe how the trust might be wound down.