Everything You Need to Know About Preparing a Will
A will is a legal document that states who gets your property after you pass away. It can also name a guardian for your children. It can protect your children and your property from being wasted.
As it is a legal document, it has to be written with the help of an attorney. In this post, we will cover everything you need to know about preparing a will!
Who Should Make a Will
If you have minor children, then you should make a will. If you are married, then you also need a will. Lastly,if you want to make sure that your estate is distributed properly and to the right people, you should write a will.
Why You Should Make a Will
- To make sure your property goes to the people you want, rather than to the state
- To make sure your wishes are respected
- To avoid disputes among your family members
- For peace of mind, knowing that your property will be distributed as you wish
How to Make a Will
If you want to represent yourself, visit the courthouse and request a will-making packet. You will need to fill out a “statutory declaration of heirship” form.
If you are getting a will made by an attorney, you will need to fill out some paperwork. Make sure to bring all the documents that relate to your finances. If you are married, you will need your spouse’s signature.
You will also need to think about what you want to do with your property. You may want to give some of your property to specific people. You can also give property to a charity. If you are giving a lot of property to a charity, you may also be able to give a tax break to the charity.
If you make a will, you should update it periodically to reflect your life changes, like a birth of a child.
4 Ways to Make a Will
- Access Online Will – You can make a will online. You can also choose to make an advanced directive (you will have to have the advanced directive signed and notarised, though). Make sure that the state you are in allows you to make a will online.
- Write Holograph Will – This is a handwritten will. You can write out your will on any kind of paper. You will have to have it notarised or witnessed. You also have to have it signed by you. You will have to know the state laws, so that you are following the rules.
- Buy Will Kit – You can buy a will kit from a store. This is similar to the online will. These kits typically include a pre-printed will and some basic instructions.
- Hire a Lawyer to Write Will – You should hire a lawyer to write your will, if you have minor children or a complicated estate. If you have minor children, the lawyer can make sure that your property is protected. If you have a complicated estate, the lawyer will know about the state laws.
What Is Virtual Witnessing
Virtual witnessing is the process of signing a legal document online. This is done with the assistance of an online notary who will verify your identity. The notary will also verify that all of the documents are signed. You will then upload all of the documents to a server.
What Happens When You Die Without a Will
According to Ontario law, the state controls the distribution of your property. If you have minor children, then the property will go to them. If you have no children, then your spouse will get your property. If you are unmarried, then your property will go to your family members, if you have any.
Creating a will is an important step. It eliminates the possibility of a nasty family dispute and makes sure that your property is distributed as you wish.
Ontario Wills is a team of Ontario lawyers that provides quality legal advice on how to write a will. Let us help you make the right decision for your assets. Contact us to get started!