WOMEN AND WILLS, WHAT IT'S SO IMPORTANT

(NC) - Making a will is a sensible and worthwhile task that everybody, whatever their age or financial status, should do. However, there are some special reasons why Canadian women should be sure to make a will of their own:

1. Women usually live longer than their husbands. It's a good idea for each of you to have your own will when you're both alive. After the death of one spouse, changing circumstances may mean you want to write a new will.
2. Planning for young children or other dependents is something that women usually want to pay special attention to.
3. Taxes and legal concerns (especially if there was a previous marriage or other dependents) should be looked at.
4. Many women will want to make special arrangements for the preparation of a will. A will lets you decide With a properly prepared will, you can ensure that:
   • property will be distributed exactly as you would have wished, and not on an arbitrary basis
   • you can name your own executor to administer you estate
   • guardians of children will be named the way you want
   • personal items, such as heirlooms, art, jewellery and antiques will be handled the way you intend
   • individuals, organizations and charities will receive the support you had always intended for them.

Prepare a will now! If you do not have a will, now is the time to prepare one. While a will does not need to be a complicated document, it is always advisable to contact a lawyer or trust company in order to avoid possible confusion later.

1. Name an executor - the person who will carry out your instructions as you would wish.
2. Make preparations to take care of your dependents - provide for your immediate family first.
3. If you have children under 18 years of age, consider naming a guardian.
4. Consider whether you want to include specific gifts of money or items to friends and relatives.
5. Decide who to give whatever remains of your estate after all other family and friends are taken care of.
6. Leave instructions for your funeral arrangements.

Can I change my will? Yes, you can always change your will, either completely, or by means of a codicil, which is a document that adds to or alters your existing will.

Bequest to causes you believe in

The tradition of supporting non-profits in your community is many centuries old. Today, people at all income levels support charities and non-profit organizations through their wills. Such bequests are a vital source of funds for a number of organizations, and stand as a lasting memorial to the donor. For individuals who feel they cannot afford to make a large donation to a cause they support during their lifetime, a bequest in a will can be a good way to make a lasting contribution. - (NC)

- From News Canada