To make a valid will in Canada, you may involve a lawyer or make your own will. The process can be daunting if you don’t have the right tips for writing a will. Here, we cover the basics of will writing in Canada.
This legacy giving document details your last wishes, acting as a clear guide on how you want appointed persons to conduct your affairs after your death. A will also prevents your estate from going into probate, governed by Ontario Government Provincial Law.
Here are some valuable tips to will writing, including all important information and persons involved.
Family Members, Legal and Financial Advisors are the key people involved in will writing.
A spouse, close friend, or blood relative. This person carries out your wishes as stipulated in your will, distributes assets to beneficiaries, and acts on your behalf regarding financial or business affairs.
A legally married or common-law partner that helps with decision making as regards your dependents or assets owned jointly.
A power of attorney is commonly used as a legal document that serves a practical purpose. It allows someone of your choosing to make financial and/or medical decisions on your behalf should you not be able to do so. Unfortunately, upon the passing of a loved one, this power of attorney form no longer applies. Just prior to the person’s death, the form’s control over end-of-life wishes is withdrawn, making room for a last will and testament or other important documents meant to honor their memory in an appropriate fashion.
Responsible for the physical custody of a minor should your spouse pass away and assumes the management of the assets and affairs of children under 18 years.
Identify the individuals you would like to bequeath specific gifts such as art, jewelry, clothing, sentimental value items, or family heirlooms and monetary amounts gifted to after your passing. These items will not form a part of your residual estate. There is no need to list your assets as your will already covers your umbrella estate.
A will should express how you would like to be buried and include end-of-life wishes covering your funeral and cemetery arrangements. Bear in mind that these wishes are not legally binding, but most loved ones follow them.
For a complex legal will, it is always advisable to consult an estate attorney to ensure you make a legally valid will in line with estate planning documents’ legal requirements. If you choose to write it yourself, you can make/use:
Having a will that isn't out of date makes things easier for future generations. For help with funeral pre-planning and cremation options, Ajax Crematorium and Visitation Centre are here to help. Call 289-372-3300 or contact us today to ensure your loved ones respect your last wishes.