Signing And Seeing Your Will
(NC)-Signing and experiencing is important to the legal validity of your Will and requirements vary from province to province.
You and your two witnesses sign the document in each other’s existence as well as initial each page.
Neither your beneficiaries (someone who takes advantage of your Will) nor their partners must be witnesses.
As one or both witnesses might be called upon to give proof regarding the execution of your Will, they should be citizens of Canada. It is suggested that your witnesses be more youthful in age than you.
In addition, a file needed for the “probate” of the Will (called an affidavit of execution) ought to be signed and sworn by one of the witnesses, soon after the Will is signed.
A Regular Review
Once you have actually prepared your Will, do not permit it to become out-of-date. A Will drafted a couple of years ago reflects your thinking and way of life at that time. Consider what may have altered:
Tax laws – your Will must reflect the current tax conserving methods.
Household scenarios – a birth, a death, or a transfer to a new province might indicate the need for a revision to your Will. Marriage demands a new Will.
Your investments – your stocks have actually increased (or decreased) in value. You have purchased residential or commercial property, acquired an artwork or started a small business.
Your dreams – you may now wish to include a brand-new recipient, change your Administrator, or increase your assistance to organizations
If you do not have a Will, or if your Will has not been updated recently, perhaps it is time to meet with an attorney and finish the job. Take the initial step; call Ontario March of Dimes toll-free at 1-800-263-3463 x 383 for a free copy of ‘My Individual Organizer’ – a handy estate planning tool.