Obituaries and Memorials









Structuring An Effective Will
is an AIM Trimark Investments Publication.



 

What Makes a Will Valid?

There are certain requirements to ensure that a will is valid. Generally the testator cannot be under the age of majority and must have the mental capability to understand what he/she is doing ("of sound mind"). The testator must sign the will in the presence of two witnesses who are neither beneficiaries of the will nor spouses of beneficiaries. These two witnesses must sign the will in the presence of each other and in the presence of the testator.

A will may also be valid if written entirely in the handwriting of the testator (not on a computer). This type of will (called a holograph will) requires only the signature of the testator. No witnesses are required. This type of will is not recognized in all provinces.

Need to Make a Minor Change to Your Will?

A codicil is a document that is executed and validated like a will. It can amend a will by revoking or changing an existing clause, or adding a new clause. Just like a will, a codicil is dated and must be in the testator's handwriting, or must be signed by the testator in front of two witnesses.

If many changes are being made, one should draw up a new will rather than repeatedly amend the old one.

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