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What is a Will?
The dictionary defines a Will as the legal statement of a person's last wishes about how to divide his or her property after death. The property that is distributed as per the instructions in a Will is known as the "estate". When you make a Will, you are known as the testator (or testatrix if female). The person you put in charge of carrying out your wishes as expressed in the Will is called an Executor/Executrix.
A Will does not take effect until you die. Therefore, if you specify in your Will that you leave certain property to someone (for example, a diamond bracelet to your sister or a lake lot to your brother) you may still dispose of that property during your lifetime. You may sell it or mortgage it or deal with it in any way you choose. If that item is no longer in your possession at the time of your death, then the Will is interpreted as if that property did not exist. Of course, you may also change your Will at any time.
In Alberta, and in every province in Canada, a Will must be in writing. Other requirements differ, depending on the type of Will.
There are three different types of Wills:
- Wills drawn up by a lawyer;
- Wills that you can complete yourself by filling in forms that you can obtain at any stationery store; and
- Wills that you handwrite completely by yourself. Wills that you handwrite are called holograph Wills. They are legal in Alberta, Manitoba, and Saskatchewan, but they are not allowed in other provinces in Canada.
May 2008
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