Many people often procrastinate when it comes to drafting a Will; a Last Will and Testament is an important document, but many often put it off. There are many reasons as to why people put off drafting their Wills: it’s too complicated to think about, avoid thinking about death, etc. It’s best to plan for doing a Will sooner rather than later, however, and this is something that you may wish to think about getting done.
An estate plan comprises three separate documents (A Will, a Living Will and a Power of Attorney). Each of these documents deal with separate issues: they range from dispersing your assets, to granting someone else the authority over your financial and medical matters. A Will covers a variety of situations, including: appointing an executor, setting up a trust for your child(ren), donating funds to charity, dispersing gifts, etc. Wills (much like people), come in a variety of different shapes and sizes, and they range from relatively straight-forward to complex. With access to the Internet, many Canadians are now turning to online resources as to how todraft their Wills.