Death is not a subject people like to talk about. After all, losing someone close is out of everyone’s plans. However, reflecting on the subject is something necessary for those who have many asset. Despite the complexity of dealing with issues such as death, such knowledge is very useful to foresee difficult times. The will is a useful resource in this regard, as it can be crucial to the future well-being of your family members.
In today’s article, we’ll explain a step-by-step guide to create a will online in Canada without a lawyer.
1. Find an online template or software to create a will
The first step to create a will is to look for a quick and affordable online will service like Epilogue, making writing your own will without a lawyer straightforward.
Epilogue is a simple, fast, and affordable way for Canadians to create a Will and a Power of Attorney online. Anybody can create a legally-binding Will in 20 minutes by answering a few questions online. Moreover, you don’t have to leave the comfort of your home or visit a lawyer. Founded by two estate planning lawyers, Epilogue supports clients throughout and long after the Will-making process.
2. Include the necessary language to create a will
You should title the document “Last Will” and then state that it is “the last will of (your name).”Confirm you are of sound mind by stating that “I (Your name) is of sound mind while making this will.” Next, list your complete address and date of birth to prevent any confusion about your identity. Finally, declare that all previous wills created before this one are withdrawn.
On the bottom of the will, include your name, date, and address. In addition, there should be a line for your signature and three additional spaces for the names, addresses, dates, and signatures of three witnesses.
3. Make a list of your assets
You must know what property you have to create your will. List all your valuable assets, including real estate and land, business ownerships, cars, bank accounts without a beneficiary and other physical possessions. Making a list of all significant assets helps you ensure that you are not accidentally leaving any valuable property out of your will.
4. Decide who gets what to create a will
Decide who will benefit from your estate. You need to be specific about who should receive which assets. Your beneficiaries can include your spouse, children, charities, or family members. If you do not designate beneficiaries, the court determines who receives your property.
5. Execute the will
Once completed, review your will for accuracy and consider having an attorney do the same. If the will meets your expectations, sign it in front of two or three witnesses (depending on your state’s laws) and a notary public. Witnesses cannot be beneficiaries of your properties, and they must witness the signing of the will. To make the will official, the notary public witnesses all the signatures and adds their acknowledgments.
6. Make copies
The final step is to keep the will in safe place. It could be in your home or office. Give copies to your executor and beneficiaries. Be sure that your executor or a beneficiary knows where you keep it.
In conclusion
If you have an accurate idea of dividing your property among your relatives and loved ones, it is better not to leave anything to chance. So take advantage of the Epilogue to create your own will today.