TaxTips.ca - Why Have a Will?

TaxTips.ca Canadian Tax and Financial Information	Why Have a Will?	TaxTips.ca does not research or endorse any product or service appearing in ads on this site. Before making a major financial decision you should consult a qualified professional. Copyright © 2012
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Wills and Estates -> Why have a will?

What are the advantages of having a will?

	You will be the one to choose the guardian of your children.
	you will choose how your assets are distributed. However, your will can be challenged in certain circumstances. See "Who can challenge a will".
	You will choose your executor.
	Your estate will be settled more easily, quickly and cheaply than if you die intestate (without a will).

Multiple wills, in some provinces, can help to reduce probate fees.

Tip: Having a will (or 2), and keeping it up to date, can reduce problems and leave more of your estate for your heirs.

Revised: April 24, 2011

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