Drafting a will should not be taken lightly. When it’s time to carry out your last wishes, you may not be around to see them come true!
Your will should be tailored to your family, financial and professional situations. These situations vary over time, and that’s why it’s necessary to regularly review your will to make sure it always meets your current wishes and needs of your family members.
Your will should also take into account the impact of estate taxes. Better to leave more for your heirs and less to the government!
Your notary is a specialist in matters of estate law. Your notary will review your family and financial situation with you and advise you on the inheritance of your estate.
Accounting for your current situation
Your will may contain different types of clauses depending on your situation and situation of your heirs.
Does one of your children have an addiction to drugs or alcohol? And you wish to protect him/her? A trust can be the solution.
Are you a business owner? Who do you intend to leave the business to?
Do you have children from a first marriage and you wish to leave them your assets/property while still providing for your new spouse? Usufruct (right to use) or other rights of use can be valuable options.
Do you wish to make a particular gift to a close friend or family member? Will there be a tax impact on this gift or settlement? If yes, who will pay those taxes, your estate or recipient?
With respect to particular assets left for your spouse; would you like this to be conditional on the waiver of rights to family property, or to come from a nuptial plan?
Do you wish to make donations to foundations or charities, or prefer to designate life insurance beneficiaries?
There are multiple aspects to consider and several legal mechanisms to achieve the desired results. It is still necessary to know and understand them. Your notary can advise you and can draft a will that respects your wishes and that meets the needs of your family members. The notarized will has many advantages:
The original copy is kept in the notary’s safe, hence secured, with confidentiality assured.
A notice is registered at the wills register within the “Chambre des notaires du Québec” (Quebec Association of Notaries), which enables the rapid tracking of the will after death.
The will is authentic and is not subject to a verification procedure as is the case with other types of wills. The settlement of your estate and the execution of your wishes can therefore be undertaken without delay.
To ensure that your wealth and that your loved ones are protected
Consult your notary: a trusted source.
About Julie Lévesque
Julie Lévesque notary will provide you the security and the peace of mind you need. Read more...
Our notarial office is there to offer you its legal advices and services.: