If a man dies and leaves his estate in an uncertain condition, the lawyers become his heirs.
Edgar Watson Howe

An astounding 50% of Canada''s adult population does not have a will. Those who do not have great wealth believe a will is not necessary. Others avoid the topic as too morbid. And then there are the numerous procrastinators who will get around to it some day!

FIVE GOOD REASONS
If you have not prepared your will (or it is out of date) here are five good reasons for making your eternal statement.

Your Family - If you die without a will, your property will be divided according to a legal formula. The outcome may have nothing to do with your family's needs or your wishes.

Your Children - The court will appoint a guardian to care for your children, if you do not.

Costly Delays - Your assets are immediately frozen if you die without a will. Before anything else can happen, the court must appoint an administrator for your estate. The result is delays and extra legal costs.

Taxes - To avoid the potentially heavy tax burden of death, proper estate planning, including a will, is essential.

Peace of Mind - When you have a will you can feel confident your affairs are in order and your family will be protected and will not endure needless work and expense following your death.

TYPE OF WILL
You should consider retaining a lawyer to draft your will. Although you can write your own, if you want to be sure your instructions are clear, it is best to get the advice of someone with the expertise. In addition, if the language is vague or the technical requirements of the law are not met, your homemade will may not stand up to a court challenge. The same caveat applies to do-it-yourself kits.

THE DETAILS
Before meeting with a lawyer, you should prepare a list of what you own and what you owe. There are also a number of questions you should give some advance thought to.

Who are the people that depend on me for financial support?
Do I have certain possessions that I want to go to particular people?
Whom do I want to look after my children?
What will happen to my pet?
Who is going to be the executor of my will?
At what age should my children have control of their inheritance?
Although there is a lot to think about and many decisions to make, a lawyer will guide you through the process.

REVIEWING YOUR WILL
Once you have a will, you should review it periodically, every three to five years. Changes in your financial and family situations may require revisions. For instance, marriage voids a will but separation does not. If you divorce, your will is read as if your ex-spouse predeceased you. Although a move from one province to another does not nullify a will, practical changes, such as the executor, may be necessary.