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Factors to consider when writing wills

It's one of the most important tasks for the living, and yet no one lives to see their efforts pay off. Writing a will may be one of the least appealing chores a person needs to take care of, but doing it now may provide peace of mind later in life. Men and women in British Columbia seeking to write their wills would do well to go over a few key aspects before drawing up any documents.

One expert on wills and estates believes the first consideration should be choosing the right people for the key roles. This means carefully selecting an executor to handle the estate and a guardian for any children who have not yet reached adulthood. It is also important to discuss one's wishes with those people and to be sure they feel they will be up to the tasks. Responsibilities such as these should not come as a surprise during a time of grieving.

Regarding any guardian to be appointed, discussing how and where children are to be raised is an important step before committing those wishes to paper. And if any inheritance is to be left to children, it should be pre-decided at what age they will collect. Without specific instructions, the full amount will be paid out at age 18. It may be more desirable to put it off to a later date or split payments over time. Should one wish specific items be left to certain individuals, those can also be written into a will or left in a memorandum or letter of wishes.

Of course these are just some of the points to consider for anyone drawing up a will. A lawyer who practices estate law in British Columbia can provide further guidance to men or women looking to get their wills in order. A bit of effort now may save a lot of difficulty for their families in the future.

Source: Canadian Living, "Secrets to writing a will", Tudor Robins, Accessed on Nov. 20, 2016

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