(NC)-Did you know that many Canadians mistakenly believe that having a will is not a priority? Nothing could be further from the truth. In fact, a will is probably the most important document you will ever write.
If you die without a will, the province in which you live will decide how to distribute your estate. And if you have children who are minors, the provincial government (through the Public Trustee) will decide who will raise and care for them. Children might be taken into public custody until guardians are identified.
The provincial government has its own common and impersonal formulas for the distribution of your estate. Some money or assets may end up going to places and persons you may have not intended.
For example, under these laws, each child would receive a proportion of the Estate created by a pre-established formula. So a son or daughter who was already well-established, completed university and had their own home
and a secure income, might end up receiving the same amount as another child with very different needs.
As well, without a will there could be no special gifts to your lifelong friend, or a bequest to your favourite community or non-profit organization such as a health charity or a group like Amnesty International. In sum, no concerns for your thoughts on the size of any bequests to anyone would be addressed without a proper will.
Avoid Family Disputes
Having a proper will also goes a long way to preventing family tiffs. A current study showed that one in five Canadians has experienced family disputes over inheritances.
It is likely many of these involved circumstances where there was no will. With a properly-written will the guesswork is eliminated, and the family is clear on your intentions. The emotional turmoil which is natural at such a time can be greatly reduced by having made your wishes clear in a written will.
Avoid Unnecessary Delays and Costs
Another compelling reason to have a will is to save money. Many people mistakenly think their estates are too small to warrant having a will, but the contrary is true.
The smaller the estate, the greater the need to have things settled quickly. Without a will, a person's affairs are managed by provincial authorities, who often have hundreds of files to attend to, which could cause unnecessary delays and extra costs.
There are many reasons why people never get around to writing a will, including the belief that it is costly - a common misconception, and it doesn't have to be.
To receive a free information package on wills, please write to Amnesty International, 214 Montreal Road, Suite 401, Ottawa, Ontario K1L 1A4.
Users Reading this article are also interested in;
News Canada provides a wide selection of current, ready-to-use copyright free news stories and ideas for Television, Print, Radio, and the Web. News Canada is a niche service in public relations, offering access to print, radio, television, and now the Internet media, with ready-to-use, editorial "fill" items. Monitoring and analysis are two more of our primary services. The service supplies access to the national media for marketers in the private, the public, and the not-for-profit sectors. Your corporate and product news, consumer tips and information are packaged in a variety of ready-to-use formats and are made available to every Canadian media organization including weekly and daily newspapers, cable and commercial television stations, radio stations, as well as the Web sites Canadians visit most often. Visit News Canada and learn more about the NC services.
Streetdirectory.com Business and Finance Guide is an essential for those interested in all facets of business and finance. It doesn’t matter what line of business you are in, the Business and Finance Guide provides in depth information on how to manage your business cash flow, how to market your online business and many more. Read the success stories from businessmen who have made it big and gather tips on how to make your money work for you. From public relations to human resource, accounting to management, let us guide you to a more successful business.
