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  Some Essential Factors Required When Drafting Canadian Legal Wills

Before understanding the legal ramifications related to the making of Canadian legal wills, it is important to understand what a will is in the first place.

Jasper L. Edwards

 

Before understanding the legal ramifications related to the making of Canadian legal wills, it is important to understand what a will is in the first place. Essentially, the term will refers to a legal document that spells out how the estate of the testator is to be distributed following his or her death.

In addition, the will may even spell out how medical treatment is to be given to the testator and also details how funeral arrangements are to be made upon his or her death.

Why Make A Will?

The second important aspect to understanding more about Canadian legal wills is learning why you need to make a will in the first place. Basically, making a will allows the Canadian government to arrive at an informed decision with regard to the distribution of the testator’s assets. Thus, properly formed Canadian legal wills will help the government to decide on the contents of the will and this in turn will have a decided and important impact on the surviving family members with regard to the correct distribution of the estate of the testator.

You also need to be certain about all the essential things that you need to know before writing Canadian legal wills, including the major and key terms to be used, whose definition should be clear in your mind and that includes learning what the will is, what is a testament, who is a testator, beneficiary, what is a legacy, and who the executor is.

Once you know the meaning of the various terms used in wills, the next step in making Canadian legal wills is to arrive at an approximate value of all of the assets that you own which can include your property, furniture, vehicles, cash and investments as well as other items of personal belongings. Once you have determined what these assets are and how much value they are of, you can then decide on who will receive what assets.

You also need to understand that the basic components of well drafted Canadian legal wills include identifying who the testator is, appointing an executor as well as providing for an alternative choice, and naming who the beneficiaries of the Canadian legal wills are. You also have the choice of writing the Canadian legal wills on your own, or getting a lawyer to draw one up for you though you need to select an executor who will be responsible for making sure that your last wishes are executed in accordance with the terms of the will.

Canadian legal wills would not be considered valid if they are not witnessed and so you can ask any adult to witness your will though such witness must not be the executor or beneficiary of the will. Finally, in case your marital situation changes, you may then need to make changes to the Canadian legal wills to reflect such changes, and in some cases the will may even stand canceled automatically such as when the testator gets married.

Keeping in mind these essential points, you should not face any difficulty in making out well formed Canadian legal wills that will be recognized as such by Canadian law courts.

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