Top 10 Tips For Making a Will
Are you making a will? Here's your essential checklist:
- Plan early – you’re never too young to make a will.
- Seek the guidance and advice of qualified financial and legal advisors.
- In consultation with your financial and legal advisors, be sure to effectively provide for an efficient disposition of your assets to all your intended beneficiaries, while maximizing tax benefits.
- Choose an executor* wisely, since the executor will be acting on your behalf and carrying out your wishes after your death.
- If you have minor children, carefully select a guardian/trustee.
- Ensure the appropriate disposition of personal effects, especially those with sentimental value. In fact, you may wish to dispose of these items before death.
- Clearly outline your funeral arrangements.
- Inform someone (preferably the named executor) of the location of your will and other important documents.
- Consider McGill in your will.
- Review your will regularly (every 3-5 years).
* In the province of Quebec, an “executor” is called a “liquidator.” In the province of Ontario, an “executor” is an “estate trustee.”
Information on this site is of a general nature and not intended to constitute financial or legal advice. Please consult your income tax, financial and/or legal advisors before arranging a planned gift. All requests for information are confidential.