Drawing Up Your Will

Writing a will is the first thing that any person who has a responsibility toward others should do. Writing a will is no problem at all compared to the time lost and the financial problems your business will face if you neglect this responsibility.

A will is too important a document to be drawn up without seeking the advice of a lawyer or notary, who will be able to tell you what type of will best suits your needs.

Depending upon the province or territory you live in, different forms of wills are available to you. All provinces/territories allow for a will to be drawn up and signed in the presence of two witnesses. Be careful that the witnesses are not beneficiaries under the will (or spouses of beneficiaries) as the gift will be invalid. Some provinces/territories allow for what is known as a holograph will. That is a will drawn up entirely in the testators own handwriting and signed by the testator. In Quebec, there is a notarized will which is drawn up by a notary in accordance with the testator's last wishes. Before deciding just what kind of will you want to make, be sure to check the laws of the province/territory you live in and the legal requirements that are in effect.

The Living Will

The living will is a document that establishes the guidelines to be followed when you are in the terminal phase of an illness.

As long you are lucid, you may refuse any medical treatment. When you are no longer able to manifest your wishes, the decision to continue or discontinue a treatment is made by the attending physician, after consultation with the family and nursing staff. For this reason, some people draw up a living will to give instructions to their loved ones on how they wish to die.

The living will reassures the family and acts as a guide to those who will be called upon to make a final decision. It is practical means of making your wishes known to ensure a gentle and natural death.

This information is presented for information purposes only and should not be considered to be legal or financial advice. For further information, contact a legal or financial advisor.