What Can A Will Do?

A will is a legal document that enables you to specify who should receive which of your assets after your death. A will also has a multitude of other function other than the transferring of assets, this ranges from appointing guardians for your minors to making funeral arrangements to specifying how your estate tax should be paid.

Some of the advanced options found in wills include:

• Appointing someone to act as the Executor of Your Will;

• Making a Cash Gift to a loved one;

• Making a Specific Gift (such as a boat or necklace) to a loved one;

• Making a Charity Gift to your favourite charity;

• Making a gift of Company Shares to a loved one;

• Making a gift of Royalties to a loved one;

• Releasing someone from a Debt owed to you;
• Specifying the sale of Assets to Pay Estate Tax;
• Appoint Guardians for your children;
• Specify your Funeral wishes;
• Make a gift to the Church for the saying of funeral mass;

Just about everyone should consider making a will. A will enables you to specify exactly how you want your assets distributed when you die. It's also the best place to name guardians for your children if you have a young family.