What Should You Know About Your Will And Why It Is Important in Mississauga?
For many of us, it is not easy to talk or think about our will. After all, it is an uncomfortable topic, and many are not comfortable enough to talk about it. But some know the importance of a will and why they should plan about it before any unforeseen event.
A will is something that you make before you leave this home we call our planet. There is no easy-way to talk about your will other than breaking the barrier and talking about it.
For many, a will is seen as a morbid topic because it is something that is only for those who want to die prepared. But the truth is that anyone can make a will regardless of age or health.
Your will is an important paper that allows you to control what happens to your belongings and possessions once you die. Today, our topic will highlight some important things and key points of a will in Mississsauga that you should know.
This article has many benefits that will help you understand why it is important for you to give this topic the importance it deserves.
Why Talking About A Will Sounds Morbid?
Most Canadians do not know the importance of a will, but that doesn’t make this topic any less important. If you are a Canadian, you may have an idea about how people feel about their will before they die. Research conducted by the Angus Reid Institute highlighted that one-quarter of Canadians think they are too young to talk about it.
A will is not something you can leave behind because it decides what happens to all the belongings you have left behind.
Let us begin with some key factors about a will that you should know about.
Where can I make a will in Mississauga?
There are many law firms like Divorcefast in Canada where you can get assistance from a Mississauaga family lawyer who has experience dealing with people who need help making a will. You can easily take guidance about it from them, and they will help you understand the process.
How do Wills work in Ontario?
A will works as your last wish after you die, so your belongings get distributed according to how you wanted them to be. People cannot decide how they want their belongings to be distributed or who gets what when they die. That is why your will is so important, as it gives you the power to do so after you die. However, there are some lucky people who have someone behind them support even after they have died. You must do some things in your will that will save you and your family time and money.
You Will Need To Ensure:
That you make a will because if you don’t, the law will decide how to distribute your belongings, it can slow your asset distribution process and even make your family pay more for the legal fees and other charges. Without a will, your legal matter may get prolonged, ad the settlements will become more complicated. If you died married without a will, your wife is eligible to inherit all your assets and belongings, making her the sole owner of everything you ever owned. But with a will, you can decide who gets what and when.
You Will Need To Ensure:
The court decides the custody of your children, not you, if you die without a will. The court always tries to make the best decision for your children, but it is not always in their favour. If you want to ensure that your children are in good hands after you die, you need to include it in your will. You can appoint a guardian for your child/childrens in your will who will take care of them after you are gone.
What is an Executor?
An executor is a person you can appoint in your will to make sure that your final wishes are carried out seamlessly after you die. This person is in charge of your estate and ensures that everything is taken care of according to your will.
Can I disinherit my spouse from my will in Ontario?
Yes, you can. If you want to disinherit your partner, you must include a statement in your will that says you are doing so. However, if you do not include this statement, your spouse will still inherit a percentage of your estate.
How does a will work?
As mentioned above, your will is a legal document that states how you want your belongings to be distributed after you die. It is important to have a will because if you don’t, the law will decide how to distribute your belongings, and this can be a very complicated and time-consuming process.
What is required for a will to be valid in Ontario?
It is the most frequently asked question, but there are a few things you should know about it.
For your will to be valid in Ontario, it must be:
- In writing
- Signed by the willmaker
- Signed by two witnesses
- Those witnesses must be over the age of 18, and they cannot be related to the willmaker
- The will must be dated
What are the different types of wills in Ontario?
There are two types of wills in Ontario:
- A Joint Will: A joint will is a will that is made by two people, usually a husband and wife. This type of will is revocable, which means the other partner can change it anytime.
- Individual Will: An individual will is a will made by one person. This will is irrevocable, which means it cannot be changed.
We hope this article has given insight into what you should know about your will and why it is important in Mississauga. If you want to make sure your will is valid, it is always best to seek professional help from a Mississauga family lawyer. Contact us if you have any unique question that needs to be answered, and we will help you sort them out.
Thank you for reading!