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Ontario|Wills & EstatesWills 140 Types of Wills There are two main types of wills, "attested wills" and "holograph wills". Both types of wills perform the same function by allowing you to name people who will receive your property when you die, and name a personal representative to make sure that your wishes are carried out. The main difference between the two types of wills is how they are written, and what things have to be done to make them legal.
- Attested Wills
An attested will is the most common type of will. "Attested" means that it is signed by witnesses. Every will that is not completely handwritten by the person making the will must be "attested" to be valid. Most attested wills are typed or prepared on a computer, or are pre-printed "fill-in-the-blank" forms. An attested will must be signed by the person making the will in front of two witnesses, and the witnesses must also sign their names at the bottom of the will. You and the two witnesses should also write your initials on each page of the will. After signing the will, the witnesses sign a written statement called an affidavit. In this statement, the witnesses must swear that they saw you sign the will, and that they have no reason to believe that you were not capable of making the will. It is important to choose witnesses who are not receiving a gift in the will. They should also not be spouses of anyone receiving a gift in your will. If they are, they may have problems receiving their gifts.
- Holograph Wills
A holograph will is less formal than an attested will. The main requirements of a holograph will are that it must be entirely handwritten by the person making the will, and it must be signed and dated. Unlike an attested will, it does not require witnesses or affidavits, and can be prepared personally by the person making the will. Although this appears to be the simplest option for preparing a will, it is not a good idea for most people. These wills may not be valid if they are unclear or missing important legal details.
If you want to prepare a will yourself, "fill-in-the-blank" forms can be purchased at bookstores and stationary stores. These are attested wills because parts are type-written and they must be signed by two witnesses.
Wills are extremely important documents. If you want to make sure that your will is legal and clearly expresses your wishes, you should consult a lawyer.
141 Structure of a Will: Formal requirements
The purpose of a will is to make sure that your property and finances can be wrapped up in an orderly way when you die. Most wills have the same general structure. However, depending on your situation, some parts of a will may or may not be needed. If your situation is complicated, you will need a lot of extra parts to make sure that your will is complete and legal.
A will does not have to be on a special form. It just needs to be a written document of some kind. Although it can be handwritten, most wills are professionally prepared and are typed.
- Your name and personal details
Most wills follow a basic structure. First, a will begins by naming the person who is making the will. If you are a man, you are called the "testator". If you are a woman, you are called the "testatrix". Your name in your will may include your name at birth, married names, and nicknames. Many wills also state your occupation.
- Statement revoking any Wills you wrote in the past
The second part of a typical will is a statement that revokes all prior wills. This cancels any wills you wrote in the past, so that you will not have two conflicting wills.
- Statement naming your executor
Next, a will names a personal representative. A personal representative is also commonly called an "executor". This is the person who will carry out your wishes. Anyone who is over the age of 18 and mentally competent can be your personal representative. The responsibilities of a personal representative include arranging your burial, proving that the will is legal, collecting information from family members, making a list of all the things you own, calculating all the money that you owed to people, and giving out gifts to the people set out in the will. People who will receive gifts under your will are called "beneficiaries".
- List your property and who will receive it
After you have named your personal representative, you can begin to write the main part of your will. This is where you name the different people or organizations who will receive the things you own when you die. You should also name a second person for each gift in your will. This second person is called an alternate beneficiary. They receive the gift if the main beneficiary dies before you.
- Residue clause
Finally, a will should have what is called a "residue clause". This is a statement near the end of the will that names a person or organization as the beneficiary of anything not listed in your will or left over after all debts have been paid and all other gifts distributed.
- Date and sign the Will, and have it witnessed
The will should be dated and signed at the bottom. If the will is typed, then two witnesses must also sign at the bottom and initial each page of the will. They will also need to sign a sworn statement, called an affidavit, that confirms that you signed the will in front of them. If you hand write your entire will from beginning to end, then no witnesses are needed.
Every will should reflect the individual needs and wishes of the person making the will. You should consult a lawyer to prepare a will that suits your particular situation.
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