Believe it or not, most Canadians have not written a will. Some avoid the task because they don't want to think about their eventual and inevitable demise. Others find the process of writing a will to be to time consuming or confusing. Still, others feel that hiring a lawyer for a will is too expensive. None of these excuses is a cogent reason not to have a will.
What does a will do?
- A will lets you choose who gets your property after you die
- A will enables you to select the distribution of wealth to one or more beneficiaries
- A will can give the specific property to specific people
- A will can appoint a particular person to administer your estate
- A will can name a guardian for your minor children
What happens if you die without a will?
- A court-appointed administrator may distribute your property
- Your property may be divided among your survivors any way the court chooses
- Your property may go to people you don't prefer
- You won't be able to give the property to non-related persons
- You won't be able to say who doesn't get your stuff
- Your property may not be distributed in the best interest of your loved ones
- If you have no relatives, your property may go the state
Should a will ever be changed?
Yes, a will can be changed at any time before the death of the person making the will. In fact, it's an excellent idea to review your will now and then, especially in the case of a life-changing event. It's up to you to decide if and when to change your will. A lawyer for a will can advise you when these and other events occur:
- You get married or divorced
- You have a new and permanent (but unmarried) partnering
- The amount of your assets changes significantly
- The executor named in your will predeceases you
- A child is born or adopted into your family
- You change your mind about the provisions in your current will
What does a lawyer for a will do?
An estate attorney or wills lawyer can draft living trusts, create powers of attorney and write health care directives that may be necessary if and when you become unable to manage your affairs. A wills lawyer can help to ensure that your assets, real estate, and life savings are protected from your beneficiaries' creditors after you pass away.
If a relative disputes your will after you die, a lawyer for a will may help the rest of the family avoid a long, drawn-out court battle. Probate can whittle a decedent's assets down to practically nothing in no time flat.
Lisa Denham Law Office has the experience and knows how to draft, modify and update your wills, trust funds, and joint tenancy appointments. Situated a mere eight minutes from Kamloops, Lisa Denham Law Office manages estate issues that range from simple last wills to complex probate situations.