  Creating a Last Will & Testament is a key part of financial planning, no matter how young or healthy you may be. It's essential to plan for the future of your survivors, and a Will is the most important legal document you can create to ensure that they won't be entangled in a lengthy probate process. This Will is specifically designed for the situation where the testator (the person making the Will) has a common law wife who will be designated as the executor/trustee of the testator’s estate. The Will first instructs the executor to distribute specific property to specified recipients (also known as the beneficiaries) (e.g. daughter will receive family jewelry). The remainder, after the testator’s debts are paid off, (referred to as the residue) will then be passed on to the common law spouse is she survives the testator, otherwise it will be distributed equally to other beneficiaries designated by the testator. This Will also provides that if a beneficiary is not yet the age of majority, the executor (trustee) will hold and invest the money in trust for the beneficiary until he/she reaches the age of majority. This packet includes: • Information on making a Will, • Explanations of general terminology, • Instructions on signing a Will, and • Will for person with a common law spouse and no children This form can be used in the following provinces and territories: Alberta, British Columbia, Manitoba, New Brunswick, Newfoundland and Labrador, Northwest Territories, Nova Scotia, Nunavut, Ontario, Prince Edward Island, Saskatchewan and Yukon. Summary of Will Provisions: 1) Common Law Spouse as Executor 2) Specific Bequests 2) Residue to spouse if spouse survives testator, if not to name beneficiaries equally$25.95
Click To Buy |
