Writing your will keeps you in control

No matter what the size of your estate, every adult should have a will, say specialists in this field.

Without one, you risk leaving the distribution decisions to an impersonal formula, with the government writing the terms.

A valid will ensures that your property will be dealt with according to your wishes and with a minimum of complications and expense for your estate. Without a will, your spouse may not receive as much as you would wish, your heirs will receive fixed percentages, regardless of their needs, and a court appointed administrator will handle your affairs.

In making a will, it is important to give careful thought to what persons, needs or organizations you would like to benefit. It is best to consult a lawyer or notary to ensure your will is properly drawn up. This is much less expensive than most people imagine.

Here are 10 reasons for drafting a will: It’s your property: A will guarantees that your assets will be distributed according to your wishes.

Children/grandchildren: A will provides for the care of any children who are minors, enabling you to choose a guardian. Should both parents die, it assures the children do not become a ward of the Court. Speedy settlement of affairs: Without a will, lengthy court delays could create undue hardship for your family.

Estate planning: When skilfully drafted, a will allows you to incorporate tax-saving measures and avoid unnecessary taxes, resulting in increased funds for your beneficiaries. Simplified distribution of your estate: By providing a blueprint and a list of directions, families will not have to guess about what you wanted. Peace of mind: A certain peace of mind comes from knowing that you’ve drafted a will that sets out your true intentions. Questions of capacity: If a person loses mental capacity, it’s not legally possible to write a will. Supporting your favourite causes: A will assures that you can continue to help organizations you have believed in during your lifetime, such as a health, education or sports charity, or a human rights organization like Amnesty International.

Relieving any burden on

your family: Reviewing the contents and nature of your estate and making known your decisions ahead of time for its disposition makes it easier on all family members.

Ability to be creative: There are relatively few rules that limit a testator’s (person who writes a will) ability to make creative, thoughtful dispositions of property.

Write for a free information package on wills and bequests to: Amnesty International, 312 Laurier Avenue East, #315, Ottawa, Ontario, K1N 1H9.