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Frequently asked questions about wills and estates |
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What happens if I die without a will? Without a will, you give up the ability to control the distribution and administration of your property at death. The supreme court will appoint an administrator who will distribute your estate according to a pre-determined formula. Your personal wishes or circumstances are not considered and the process of administering your estate may be costly, time consuming and traumatizing for family members. You would also have no opportunity to help a charity that made a difference in your life. How do I prepare a will? You can prepare a will on your own from scratch or by using a “will kit” but this is not usually advisable. Even what is presumed to be a “simple” will could contain defects and inadequacies that, in the worst case scenario, could result in your will being declared invalid. Ideally, a knowledgeable lawyer or notary familiar with wills and estates should prepare your will. The cost of having your will prepared by a professional (usually less than $300) is minor compared to the costs your estate could incur if you have an improperly drawn or executed will. How would I change my will after it has been signed? Minor changes can be affected through a codicil, which is an amending
document referencing the original will and signed and witnessed
in the same manner. Major changes may require the drafting of a
new will. In both cases you should consult a professional. |
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