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December 2018

Here’s why planning a will should be your top New Year’s resolution


(NC) With all the holiday hustle and bustle, crafting a will might be the last thing on your mind right now. But planning your posthumous affairs is a smart, sensible thing to do, regardless of your age, gender and the time of year.

If you’re too swamped right now, why not make it a New Year’s resolution? Here are some tips on getting started:

Prepare a will now.

If a will has not been completed, or your current situation has changed dramatically since your first one, now is the best time to create a new one. A will does not need to be complex, although it is recommended to contact a lawyer or trust company to assist you. Knowing that there are no irregularities or mistakes -- which can cause confusion in later years – is well worth the support fees.

What to do

  1. Waive any previous wills to avoid possible confusion later.
  2. Name an executor — the person who you want to conduct your instructions as you wish.
  3. Make preparations to take care of your dependents.
  4. If you have children under the age of 18, name a legal guardian.
  5. Think of whether you wish to leave specific gifts or contributions to family, friends or charities.
  6. Leave directions for your funeral arrangements.

Can I change my will?

Yes, you can always change your will, either altogether or by implementing a codicil, which is a document that adds to or adjusts your current will. You should enlist legal advice, as the requirements vary province to province.

Should I leave money to a good cause?

The act of leaving money to associations that contribute to society and your community is age-old. Today, a variety of people at all income levels support non-profit organizations and charities, like Amnesty International, through their wills.

These funds can be an important support for organizations and allow you to leave a lasting impact on a cause close to your heart.

Find more information at amnesty.ca


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