Writing a Will can often feel like a daunting task, even to the most prepared individuals. While no one likes to think about leaving the ones you love behind, the simple fact is, you will need a Will. Designed to protect you, those you care for, as well as help preserve your legacy, Wills cover far more than just the allocation of your assets upon passing. Arranging your estate gives you the chance to clearly outline your wishes and priorities and ensures your loved ones have less to worry about when coping with a difficult time.
If you’re feeling overwhelmed at the prospect of writing your Will, Paperclip Law is here to help clients throughout Vancouver. Below is a short guide answering three commonly asked questions when it comes to making a Will.
1. Why Do I Need A Will?
As an experienced legal team, one of the questions we hear frequently is “why do I need a Will?” While it may seem simple to assume that your family members will automatically inherit your assets, the reality is often less straightforward. Without a legal document that clearly dictates your wishes, your loved ones can spend months, or even years, determining how your estate will be allocated, how to pay off your outstanding debts, and more. Having a Will removes this burden from their shoulders and allows them to grieve without added stress.
2. How Do I Choose My Executor?
Selecting an executor is one of the most important aspects of writing your will. The executor is the individual in charge of carrying out your wishes and will have the power to make final decisions when it comes to funeral arrangements, organizing what you own and owe, instructing professionals who handle your assets (lawyers, real estate agents, accountants, etc.), and more.
When choosing your executor, make sure they are someone who has your full trust, as well as your best interests (including those of your loved ones) in mind.
3. How and When Do I Update My Will?
Think of your Will as an evolving document, rather than a static list. Because the goal of a Will is to protect those you care about most, as well as organize your estate, it is crucial to update it any time there is a major event that occurs. From weddings to family members passing away, and even new business opportunities that may change your financial investments significantly, your Will should always reflect your most current state of personal and business affairs. Partnering with an experienced team makes updating a breeze, removing the chance of error and giving you peace of mind!
Ready to protect those you love most? Contact Paperclip Law to learn more about Wills and Probate assistance today.
