No matter where you live in the world, writing a will is one of the most important forms of protection you can promise to you and your family in the future. While a will seems unnecessary in this stage of your life, it’s a critical document that ensures your hard-earned assets continue to provide for your family even in the event of your untimely death.
Even if you’re years away from retirement, having a clearly-written will in place can give you peace of mind as you go through different chapters in your life. Without a will, all your estate will be subject to the Succession Law Reform Act, which can keep your intended beneficiaries from getting their share of your assets and estate according to the judgement of the court.
With that in mind, it’s important to write a will and make any necessary updates whenever you experience a major change in your life—be it through a marriage, divorce, the birth of a new child, and more. To that end, this article will be focusing on what you need to consider when completing your will in Ontario, Canada.
What Makes a Will Legal in Canada?
- The will must be written as a physical document;
- You must be at the required age and have a sound mind when writing the will;
- If the will is typed and printed, you need to sign your signature and have two witnesses to testify the authenticity of your signature written at the very bottom of the document;
- The witnesses you choose to sign the will must not be an executor or beneficiaries of your will. In essence, a witness will only be valid if they’re not part of your will in any way or form.
What to Consider When Writing a Will in Canada
When writing a will, be sure to state in a document that this is your official will and testament. You will need to talk about your chosen executor and the allocations of your assets, estates, or even liabilities to your beneficiaries. It also helps to name your successor beneficiaries, just in case your primary beneficiaries will also pass away.
The Bottom Line: What You Should Know When Writing a Will in Ontario
Writing a will on your own is perfectly legal in Ontario, so long as you meet the legal requirements to ensure it is valid and enforceable.
How Can We Help You?
Wills can be an incredibly touchy subject, but it’s not the kind of obligation you can ignore. Preparing your will is a challenging task, but with the help of Ontario Wills, writing up a legal document about how to protect your loved ones after your death can go much smoother.
Ontario Wills recognizes that each client has different circumstances and solutions; that’s why we steer away from a one-size-fits-all approach. With our help, you get a professional review and a comprehensive estate plan that meets your needs at an affordable price. Start writing your will with our will and estate lawyers today!