Wills - Frequently Asked Questions

. What is a will?
. A will is a legal document appointing someone to manage your affairs after your death, distributing your property as you wish it to be distributed, and appointing a guardian for your children. Your will has no effect until you die. A will has to be signed by you in front of two independent witnesses who must sign the will as witnesses in your presence.  The witnesses must be individuals who do not benefit from the will.

. How may a will be cancelled?
. A will can be cancelled or "revoked" by destroying the will, by marrying (unless your will states it is made in contemplation of such marriage) or by executing another will, which states that all previous wills are revoked. Divorce does not revoke a will. Hand written changes to the will are not effective to change the will unless initialed and witnessed by two independent witnesses.

. Why should I make a will?
. Without a will, the Intestate Succession Act dictates how all your property is distributed, and requires the appointment of an administrator who must post a bond. With a will you can design your own plan and avoid a bond. By discussing a will, a lawyer can also recommend other estate planning steps such as making an enduring power of attorney, making a designation under the Social Services Act, transferring property into joint ownership, and changing designations in insurance or RRSP policies.

. When should I consider changing my will?
. A change in marital status, deaths in your family, significant change in your financial position or that of your proposed beneficiaries, changes in your interest in charitable organizations, changes in relations with your family members and changes in tax laws are all reasons to consider changes to your will.

. How does matrimonial property affect my will?
. The Matrimonial Property Act in Nova Scotia allows a surviving spouse to apply to the court to have matrimonial assets divided in equal shares regardless of how those assets may have been owned, in addition to any rights under a will. The court can divide assets equally or unequally in certain circumstances. You can include in your will, if applicable, a condition that if your spouse accepts benefits under your will, your spouse must disclaim any further rights under the Matrimonial Property Act.