Wills and Living Wills

Will and living wills are a very important part of any Canadian citizens life. Even thought most people view it as a negative reminder of death, living without a will and in some situations without a living will is generally not recommended. So remember if you care for your children and your family it is better to get a will as soon as possible. And not just some will, as any important legal document it must be written properly according to the norms set by the law. Naturally a good lawyer will can help you with your will.

 

Will

Will is a legal document that contains a legal declaration of a person, which names one or more persons to manage his or her estate, finances and property after death. Everything that is not mentioned in the will is usually distributed according to the rules of inheritance. A properly drafted will gives the individual not only big possibilities in distributing his or her property, but also allows avoiding property conflicts between family members and additional lawsuits that could follow. It also can minimize taxes and probate fees, leaving more money for the family members of the deceased. A very important thing is that with a will an individual can establish trusts that hold money for children under specified ages, spouses or family members. Also a will allows distributing the finances to various charity organizations or even establish something historical like the famous Nobel Prize which was actually established by Alfred Nobels will.

 

Living Will

Living Will is a type of will that is similar to the power of attorney document. While the power of attorney documents usually regulate property, Living Wills regulate personal care. You can have such document for situations when you will be incapacitated. Living Will basically holds instructions for your medical treatment and personal care. First according to this document, a guardian will be appointer to make decisions about your treatment following the instructions specified in your living will. To avoid frauds a person who has a living will must be examined by two independent experts (doctors in this case) to confirm that an individual is unable to make decisions, before the guardian will be appointed. If the individual has no living will (or a power of attorney for health care) the guardian will be appointed by the provincial government from one of the family members. The important thing that everything written in living will is not carved in stone. It means that you can change the will over time, if for example your new religions beliefs prohibit some types of medical treatment. So as you see having a living will is not as crucial as just a will, mostly it will help your family members to choose what is right for you when you will be unable to do so. If you have a serious illness or you are very serious about how you will be treated – this document is a must for you.

 

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