ARTICLE · 20 OCTOBER 2021

Big Questions, Short Answers: "Is A Will Enough?"

Alexander Holburn Beaudin + Lang LLP

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In honour of BC's Make-a-Will Week 2021, we are providing short answers to big questions that we are commonly asked in the estate planning process – our final question is: "Is a Will Enough??"

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Catherine Bunio

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In honour of BC's Make-a-Will Week 2021, we are providing short answers to big questions that we are commonly asked in the estate planning process - our final question is: "Is a Will Enough??"

Question: Is a Will Enough?

THE (SHORT) ANSWER:

Your Will only becomes effective on your death, meaning that the person named executor in your Will cannot deal with your assets while you are still alive. By contrast, there are documents that can be put in place to protect you and your assets during your lifetime. These latter documents are only effective while you are alive, and can be particularly helpful if you lose the mental capacity to make financial or health care decisions for yourself.

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