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Difference between revisions of "Preparing Your Will: Step-by-Step"
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Preparing Your Will: Step-by-Step (view source)
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{{REVIEWEDPLS | reviewer = [[People's Law School]] |date= 2014}} | {{REVIEWEDPLS | reviewer = [[People's Law School]] |date= 2014}} | ||
{{Writing Your Will TOC}} | {{Writing Your Will TOC}} | ||
You can make a will on your own, or have someone such as a lawyer or a notary public help you. There are rules and formalities that must be followed, no matter how simple the will, or the will may not be valid. | You can make a will on your own, or have someone such as a lawyer or a '''notary public''' help you. There are rules and formalities that must be followed, no matter how simple the will, or the will may not be valid. | ||
=== Who can make a will? === | === Who can make a will? === | ||
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=== What are the requirements for a will? === | === What are the requirements for a will? === | ||
The law sets out some rules that must be followed for a will to be valid: | The law sets out some rules that must be followed for a will to be valid: | ||
* The will must be in writing. It can be typed or handwritten. | * The will must be '''in writing'''. It can be typed or handwritten. | ||
* The will must be signed at its end by the will-maker. As the will-maker, you must sign the will or acknowledge the signature as yours in front of two witnesses present at the same time. If you are unable to sign the will because of illness or disability, you can ask someone to sign it for you in front of you, and in front of the two witnesses. | * The will must be signed at its end by the will-maker. As the will-maker, you must sign the will or acknowledge the signature as yours in front of '''two witnesses''' present at the same time. If you are unable to sign the will because of illness or disability, you can ask someone to sign it for you in front of you, and in front of the two witnesses. | ||
* The two witnesses must sign the will in front of you. | * The two witnesses must sign the will in front of you. | ||
* You and the witnesses should initial each page of the will in front of each other. | * You and the witnesses should initial each page of the will in front of each other. | ||
* The will must have the date included on it. | * The will must have the '''date''' included on it. | ||
=== Who can be a witness to my will? === | === Who can be a witness to my will? === | ||
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* be mentally capable. | * be mentally capable. | ||
It used to be that a person who witnessed a will could not also receive a gift under the will. But now, a witness may be able to inherit under a will. The witness has to apply to court and show that you intended to make the gift even though the person was a witness to the will. If the court isn’t satisfied, the gift to the witness is void. Either way, the remainder of the will is not affected. | It used to be that a person who witnessed a will could not also receive a gift under the will. But now, a witness may be able to inherit under a will. The witness has to apply to court and show that you '''intended''' to make the gift even though the person was a witness to the will. If the court isn’t satisfied, the gift to the witness is void. Either way, the remainder of the will is not affected. | ||
The witnesses do not need to read the will. All they need to do is watch you sign your name to the will, and sign the will themselves in front of you. | The witnesses do not need to read the will. All they need to do is watch you sign your name to the will, and sign the will themselves in front of you. | ||
=== When should I make a will? === | === When should I make a will? === | ||
You can make a will at any time. You should make a will if you marry or if you start a family. Even if you don’t marry or have children, or don’t have significant property, it’s still a good idea to make a will so that you can leave your belongings to the special people in your life. | You can make a will at any time. You should make a will '''if you marry''' or '''if you start a family'''. Even if you don’t marry or have children, or don’t have significant property, it’s still a good idea to make a will so that you can leave your belongings to the special people in your life. | ||
{{PLSTipsbox | {{PLSTipsbox | ||
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Typically, a will has several sections: | Typically, a will has several sections: | ||
* '''Initial matters:''' The first section of the will appoints the executor. The executor is the person who is responsible for carrying out the instructions in the will. | * '''Initial matters:''' The first section of the will appoints the '''executor'''. The executor is the person who is responsible for carrying out the instructions in the will. | ||
* '''Distribution of the estate:''' The will sets out who receives your possessions and property, also known as your assets, and under what conditions. The people to whom you give things are called beneficiaries. You can make gifts of specific property or cash gifts. Whatever amount left over after debts and taxes are paid and gifts are distributed is called the residue of the estate. In the will, you say who receives the residue, and in what portions. | * '''Distribution of the estate:''' The will sets out who receives your possessions and property, also known as your '''assets''', and under what conditions. The people to whom you give things are called '''beneficiaries'''. You can make gifts of specific property or cash gifts. Whatever amount left over after debts and taxes are paid and gifts are distributed is called the '''residue''' of the estate. In the will, you say who receives the residue, and in what portions. | ||
* '''Other details:''' The will can also include other details as you wish. For example, if you have any children under age 19, you should name a guardian for them in the will. You should also provide for financial assistance for the guardian to cover the costs of raising the children. | * '''Other details:''' The will can also include other details as you wish. For example, if you have any children under age 19, you should name a '''guardian''' for them in the will. You should also provide for financial assistance for the guardian to cover the costs of raising the children. | ||
* '''Signatures:''' The last section of the will includes the signatures of the will-maker and witnesses. | * '''Signatures:''' The last section of the will includes the signatures of the will-maker and witnesses. | ||
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Spouse includes a common-law spouse, which is a person you have lived with in a marriage-like relationship for at least two years. | Spouse includes a common-law spouse, which is a person you have lived with in a marriage-like relationship for at least two years. | ||
If your spouse or children wish to dispute your will, they have to apply to the Supreme Court within 180 days after the court has issued a grant of probate. (Probate is a legal procedure that confirms the will is legally valid and can be acted on.) The person disputing the will needs to prove in court that the will does not provide for them adequately. | If your spouse or children wish to dispute your will, they have to apply to the Supreme Court within 180 days after the court has issued a grant of '''probate'''. (Probate is a legal procedure that confirms the will is legally valid and can be acted on.) The person disputing the will needs to prove in court that the will does not provide for them adequately. | ||
Separated spouses generally have no legal claim to dispute the arrangements made in your will. Other relatives who are left out also generally have no claim. | Separated spouses generally have no legal claim to dispute the arrangements made in your will. Other relatives who are left out also generally have no claim. | ||
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Getting advice from a lawyer or notary becomes particularly important where there are features such as a blended family, a charitable gift, property outside of British Columbia, a family business, or a wish to disinherit potential beneficiaries. | Getting advice from a lawyer or notary becomes particularly important where there are features such as a blended family, a charitable gift, property outside of British Columbia, a family business, or a wish to disinherit potential beneficiaries. | ||
Ask a lawyer or notary how much it will cost before you decide to give the job to him or her. To find a lawyer or notary, see the Where to Get Help section. | Ask a lawyer or notary how much it will cost before you decide to give the job to him or her. To find a lawyer or notary, see the [[Where to Get Help for Writing Your Will|Where to Get Help section]]. | ||
{{Writing Your Will Navbox}} | {{Writing Your Will Navbox}} | ||