Planning Your Estate

Drawing Up Your Will

Writing a will is the first thing that any person who has a responsibility toward others should do. Writing a will is no problem at all compared to the time lost and the financial problems your business will face if you neglect this responsibility.

A will is too important a document to be drawn up without seeking the advice of a lawyer of notary, who will be able to tell you what type of will best suits your needs.

In Quebec, there are three types of wills:

  • The holograph will, handwritten and signed by the testator;
  • The will made in the presence of two witnesses;
  • The notarized will, drawn up by a notary in accordance with the testator's last wishes.

In Ontario, there are two types of wills:

  • The holograph will, handwritten and signed by the testator;
  • The legal will, or properly drafted will, drawn up and signed by the testator in the presence of witnesses.

The Living Will

The living will is a document that establishes the guidelines to be followed when you are in the terminal phase of an illness.

As long you are lucid, you may refuse any medical treatment. When you are no longer able to manifest your wishes, the decision to continue or discontinue a treatment is made by the attending physician, after consultation with the family and nursing staff. For this reason, some people draw up a living will to give instructions to their loved ones on how they wish to die.

The living will reassures the family and acts as a guide to those who will be called upon to make a final decision. It is practical means of making your wishes known to ensure a gentle and natural death.

This information is presented for information purposes only and should not be considered to be legal or financial advice. For further information, contact a legal or financial advisor.

Investia
A Subsidiary of iA Financial Group