TOP 7 REASONS

In Canada, if you die without a Will you are considered to have died “intestate.” Simply put, this means that your provincial government decides how your assets will be divided—and not you. … Even worse—intestacy can result in additional legal costs for your beneficiaries.

TO PROVIDE FOR:

  1. YOUR FAMILY: to set out a plan to include such things as replacement income should you no longer be around to provide for the family.
  2. CLEAR INSRUCTION ON THE DIVISION OF ASSETS: The will can specify the manner the assets are distributed. You can make arrangements for younger children to have guardians who may hold assets in trust until a child comes of age. You may wish to limit amounts to a salary to discourage depletion of lump sums.
  3. ESTATE PLANNING: permits you to plan for your family within established tax rules.
  4. DOCUMENTATION: your will is committed to writing and legally codified and witnessed accordingly.
  5. CLARIFICATION: to set out clearly your preferences in dealing with your assets, for example, do you want the cottage to stay in the family or would you rather see it sold with its proceeds divided in a manner that you stipulate.
  6. PEACE OF MIND: you will leave your affairs organized in such a fashion that your family does not have to worry about what to do next. Instead, the will provides a plan.
  7. TIMELINESS: you want to ensure that your wishes are documented while you still have your health and mental ability to indicate your preferences with capacity. Age or illness could prevent you from doing so if put off to the future.

The above points are intended to be informational. If you, or someone you know, needs assistance with a will, or powers of attorney you should contact a lawyer in your particular province.

Edith M. Holly, B.A.(Hon.), M.A.(War studies). LL.B. Barrister & Solicitor emholly@sympatico.ca Telephone: 613-248-9457

IF YOU WOULD LIKE MORE INFORMATION YOU MAY ATTEND A FREE BILINGUAL SESSION ON WILLS:

When: January 23, 2018

Time:  6:30 pm

Where: Innovation Gatineau

201-455 Boulevard de la Gappe
Gatineau (Québec)
J8T 0G1 Canada

Penny Lee Prevost, Managing Director at Groog IT

 

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