Depending on the state of your affairs, you may decide to DIY it or hire an estate planning lawyer. If you can DIY it, check with your province’s laws regarding what forms you need to fill out.
If you have children under the age of 18, own a business, or have significant assets, it is in your best interest to consult with an estate planning lawyer instead of trying to DIY your Will.
IS A LAST WILL AND TESTAMENT LEGALLY BINDING?
Yes, a Last Will & Testament is legally binding unless there is an instance of fraud or another reason to contest the Will. For example, if you weren’t sound of mind when the Will was written or your province requires a witness present and there wasn’t one. If your witness is also a beneficiary, your Will is likely invalid.
HOW LONG IS A LAST WILL AND TESTAMENT VALID?
There is no expiration date on a Last Will & Testament. If you correctly complete a legally-binding Will, then it doesn’t matter if the Will was signed 5 minutes or 50 years ago. It’s still valid.
IS A HANDWRITTEN LAST WILL AND TESTAMENT LEGAL?
Most provinces will not permit handwritten Wills. This is to help reduce instances of fraud or confusion. You’ll need to make sure to follow your province’s guidelines to ensure your Will is legally binding. If you have any questions, be sure to consult with an estate planning legal professional. They can walk you through the process and ensure your Last Will & Testament is set up correctly.
Saskatchewan is one of the few jurisdictions where a handwritten or holograph Will can be valid, even without witnesses. Usually, these are stop-gap measures until you can create a formal lawyer-prepared Will.
CAN A WILL HELP TO AVOID PROBATE?
Probate can be a costly, time-consuming process as assets are gathered and debts are paid. While a Will can make probate easier by indicating which person will inherit what, you’ll need to consult with an estate planning lawyer if you want to avoid probate entirely.
Note: Probate refers to the province’s court-supervised process of settling an estate and distributing assets or property to the heirs. Many people assume that having a Will means that your estate can skip probate, but this isn’t true. Your Will must go through probate to ensure real property is handled correctly, but a Will can reduce unwanted delays and higher court costs.
Joint ownership of property, beneficiary designations, and pay-on-death or transfer-on-death accounts are all methods of designating assets without probate. Revocable living trusts and simply giving away or donating property are other options. You’ll want to discuss all of your options with an estate planning lawyer to determine what’s best for your unique situation.
ARE WILLS PUBLIC RECORD?
Last Will & Testaments become part of the public record once they’ve been filed in probate court, sometimes referred to as Surrogate Court. However, simply writing a Will doesn’t mean it becomes public. You don’t have to register it in a database or repository. Your Will can be private until you pass.
Typically, the executor of the Will or the estate’s personal representative will be in charge of who can view the will. Once the person has passed, their heirs and beneficiaries are entitled to a copy of the Will from the executor.
Note: The information in this blog is not legal advice. Consult a lawyer for advice for your situation.