When should I do (or redo) my Will?

You need a Will as soon as you have:

• Someone for whom you are responsible; and
• Something to leave behind.

There are default designations about how your heirs will be provided for, and where your assets will go. A Will matches those things more efficiently than letting the legislation carry the day.

When we draft a Will for you, we are guessing what your family and your estate will look like at your date of death. The closer we get to that date, the better our guesses will be. Even if you already have a Will, you should read your Will at least every five years to make sure it still makes sense. If you are not sure, contact us for a review.

My assets are all in a trust. Do I still need a Will?

A trust may deal with most of your assets, but it still helps to have an executor to deal with anything that comes up between the date of your Will and your date of death (like unexpected debtor/creditor issues). It tells the court who you trust to make these choices for your estate. Without a named executor, the court will likely require your administrator to be bonded and that depletes your estate.

My assets are in more than one jurisdiction. Can one Will take care of everything?

We can put all your assets through one Will, but there may be a tax advantage to having assets in different jurisdictions go through different Wills. If you are not certain that your current arrangements will do, contact us for a review.

My Will is current. Do I need anything else?

Estate planning is not death planning, it is life planning. Your Will is only going to be used once, at your death. Between now and then, you are more likely to become ill or disabled. And if that happens, you will need a Personal Directive (so someone can make healthcare choices for you), and powers of attorney (so someone can pay your bills and manage your assets).

A proper estate plan provides for your future before it provides for anyone else's future.

My bank had me sign a power of attorney. Why isn't that enough?

The power of attorney that you signed for your bank works for your banking arrangements with that bank. Any other bank you deal with is going to want something different, likely in their own form. And the various provincial land titles registries may want something else entirely.

If you are not sure whether the document you have will work for the purposes you intend, bring it to your appointment and we can advise you.

Why shouldn't I use a free Will kit?

The only thing a Will kit is adding to your efforts is the boilerplate at the beginning and end of your Will. If you can do a proper Will using a free Will kit, then you know enough about the issues to do one without the free Will kit.

If that is all you can afford at the moment, then do it. Having a Will is better than not having a Will. If you have had it witnessed and signed properly, at the very least it will tell the courts who you trust as an executor to address any issues that may arise after your death.

Why can't I just copy my sibling's Will and change the names?

(This question came from a real client's real sibling.)

Wills are drafted to fit the intended testator.

One of you is in a common-law same-sex marriage, while the other is legally married. This affects rights of the beneficiary to challenge the Will.

One of you has a single child with a disability who may remain financially dependent on your parents beyond the age of majority. The other has two able-bodied children who are expected to attain independence. This affects your obligations to provide continued support for your children.

One of you is a self-employed entrepreneur, while the other is employed for wages. The entrepreneur as business succession issues to address, while the employee does not.