Secrets to writing a will

Consider writing a memorandum and a letter of wishes
Personal effects can have significant value, both sentimentally and financially. Think of family heirlooms like a grandfather clock, Grandma's piano or collections of art or jewelry. While Sim says you can write these items into your will, it may be better to put together a memorandum outlining who gets what. This way you can make changes without having to rewrite your will.

She says that for guardians, a letter of wishes has a similar effect. While not legally binding, it provides guidance about your hopes for your children and, like a memorandum, can be easily changed to reflect changing circumstances.

Talk about it with your kids
While death (especially your own) may not be the first thing you want to discuss with your children, Sim says a family conference can be useful, especially for families with older children. She says potentially thorny issues, such as who gets the family cottage, can sometimes be cleared up simply by having an open discussion and letting your children express their wishes ahead of time. "There may be one or two who really want [the cottage] and one or two who don't," Sim explains, "so you set it up that A and B get the cottage but C and D get something else of equal value."

Get the final word
Make sure you have yours. Don't avoid making a will. If you've been putting it off because you don't have a lawyer, ask a friend for a referral or visit the Canadian Bar Association's lawyer referral site.

Is it expensive?
If you're not sure how much it'll cost, just ask, Sim says. Prices vary depending on your location and the complexity of your will, but any lawyer will tell you up front whether they will charge a set or hourly fee and what their hourly charge is.

"It's money well spent," says Sim. "If you get it done properly it should be a document that will last you, more or less, a lifetime." She adds that the peace of mind it affords you and the way it makes your family feel to know you thought of them are two of the best reasons to have a will.

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