If something were to happen to me, who would get the house, the car, and my vinyl collection? Have you ever asked yourself these questions? It is necessary to consider what will happen to your belongings and loved ones in case of incapacity or death. Simple at first glance, drafting a will deserves to be well understood. Let's explore the subject of wills together and discuss their benefits, how to set it up, and the options available for seniors.
What is the Purpose of a Will?
A will is a legal document that allows you to specify who will inherit your assets and what share will go to each person. In other words, it outlines what will happen to your belongings upon your death. It also prevents conflicts among family members when distributing your possessions. It is possible to designate a person to manage your affairs and take care of your family when the time comes.
If you do not have a will, your assets will be distributed according to the state's inheritance laws, which may not be what you want. By taking the time to create this document, you ensure that your legacy will be distributed according to your desires and that your loved ones will be taken care of adequately. A will is an essential document that can help simplify the process at the time of death, lighten the burden for your loved ones, and allow them to grieve more peacefully.
Types of Wills Recognized in Quebec
In Quebec, there are three types of wills recognized by law, each with its characteristics and uses. The three variations of the will are as follows:
- Holograph will: This type of will is written, dated, and signed by the testator's hand. It does not need to be registered or certified, but it is highly recommended to do so to prove its authenticity in case of a dispute. It must also bear the signature of at least two witnesses who are not beneficiaries of your assets in your will. For example, if you want to leave your properties to your daughter, she cannot sign as a witness to your will.
- Notarial will: This type of will is established with the help of a notary and must be signed by the testator and two witnesses. This will can be registered to prove its authenticity, and it is generally considered more reliable than the holograph will.
- Will in the presence of witnesses: This type of will is signed by the testator in the presence of two witnesses who also sign the document. This type of will is often used when a person cannot travel to meet a notary or if the person wishes to establish a simple and quick will.
It is important to note that testamentary documents must be drafted clearly and coherently to be valid. Moreover, it is necessary to consider updating them regularly to account for any changes in circumstances or wishes. Seniors can consult a notary or lawyer to establish their will and ensure it meets their desires and needs. While this organization may seem complex, it is a relevant way for seniors to control what will happen to their possessions and loved ones after their departure.
Where to Start
To create a will, the first step is to think about your wishes regarding the distribution of your assets. It is necessary to take the time to reflect on who you want to leave your possessions to and how to do so fairly. Additionally, it is imperative to consider any financial obligations you may leave behind, such as debts or loans.
Once you have a clear idea of what you want to do with your assets, it is time to choose the type of will you want to create. As mentioned earlier, there are several types of wills, each with its own characteristics and advantages.
After choosing the type of will that best suits your needs, it is required to draft it clearly and concisely. Make sure to distinctly designate your legatees and identify them as accurately as possible. You also need to be diligent about the distribution of your possessions. If you have specific wishes for certain properties, make sure to include them in your will.
Lastly, it is recommended, but not mandatory, to register your will with a notary or lawyer. Make sure to keep the document in a safe place and inform a trusted person of its location. It is important to ensure that your will complies with Quebec laws and regulations applicable to your situation.
Creating a will may seem intimidating and carry significant emotional weight, but it is an important step in ensuring control over what will happen when you are no longer there to defend your wishes. Take the time to think about your choices, determine the type of will that best suits your situation, and draft it clearly and concisely. Finally, make sure to keep it in a safe place.
The Quebec Ministry of Justice offers a will template that you only need to personalize to make it your will.
Few Assets or No Successors?
Even if you have few assets or no successors, having a will can be very useful in avoiding disputes and conflicts among potential heirs. It is common not to have significant assets such as houses or cars, but everyone owns personal items with sentimental value. Additionally, you may have savings in bank accounts, investments, or retirement funds. Creating a will is not only useful for dividing your assets but also an opportunity to specify your wishes for your funeral arrangements or ceremony after your death. It is also possible to designate a trusted person to manage your assets after your death, which can be particularly useful for people without close family. In the end, the decision to create a will is a personal matter, and it is essential to take the time to consider your options and develop one that suits your needs, whether you have a large inheritance or simply sentimental valuables.
What Happens if You Die Without a Will?
If a person dies without a will in Quebec, the province's succession rules apply to determine who will inherit the assets and property. However, this can lead to unexpected and undesirable results. For example, minor children or surviving spouses may not receive what they expected, or distant family members could inherit significant assets. Furthermore, the process of distributing assets can be longer and more expensive if no will has been established. It is therefore strongly recommended to create one to clearly indicate your wishes and avoid unnecessary problems for your loved ones.
How to Raise Awareness About the Importance of a Will Among Loved Ones
It is often difficult to talk about wills with loved ones, but it is an important conversation to ensure that everyone's wishes are respected. It is better to discuss these sensitive issues when things are going well rather than at the highly emotional time of death. You can gently open the discussion by explaining the importance of making your wishes known concerning funeral arrangements and the distribution of your assets. One strategy may be to mention the consequences for loved ones if you die without a will, such as decisions being made by judicial authorities. Another good approach is to highlight the simplicity of the will process and suggest planning a meeting with an expert in the field to discuss all the available options. Finally, listening to the person's concerns and questions can help establish a constructive conversation on the subject.
Residence Life for Peace of Mind
Just like a will, living in a residence allows for more predictability and a sense of being well-supported as our needs evolve. Are you considering living in a residence for yourself or a loved one? Bonjour Résidences offers free assistance to help you find the living environment that best meets your needs and maintain your peace of mind. Contact us at 1 844 918-1020 to speak with one of our senior housing specialists.