Whether you have a large and complicated estate or one with more modest assets, you may want to further your estate planning in a fundamental way by drafting a will. In doing so, you can dictate the terms of your estate’s eventual fate and rest at ease knowing those terms will be carried out according to the exact language of the legal document.
Your will does not necessarily have to affect all of your assets. In many cases, a will is best written and used for select components of your estate. There are several types of assets that most likely will not be appropriate for your will. If you have a Registered Retirement Income Funds Account, a Registered Retirement Savings Plan or a Tax-Free Savings Account, you have most likely designated the beneficiaries of those accounts already, making those assets inappropriate for the will.
A will should be drafted with careful consideration yet without delay so as to make certain your spouse and your children will be provided for in the event of your death. Failing this, the court may order the manner in which your estate will be distributed among your kin according to generic guidelines in the law.
As vital as it is, your will warrants the counsel and overview of a lawyer with a proven record in the field of estate planning. Our lawyers at Garton & Harris, for example, have been guiding people with their estate planning for more than 30 years. Thus, we are familiar with legally sound wills and advise clients on how to draft them with immovable confidence. You can learn more about wills by reviewing our Coquitlam wills and estate planning page.
Source: Garton & Harris, “Wills Lawyers“, December 24, 2014