5 things to consider when writing a will

Have you written your will? It doesn’t need to be complicated. Here are few quick tips to get you started.

  1. Choose an executor and a back-up. An executor is someone who ensures your wishes are carried out.
  2. Name guardian(s) for your children or any other dependents.
  3. List your beneficiaries. Beneficiaries can be individuals (your heirs) or charities. If you love the Library, consider including the Toronto Public Library Foundation, a registered charity, in your will.
  4. Use a lawyer. Although it’s cheaper to use a “do-it-yourself” will kit, a professionally written will can reduce taxes and reduce hassles in the long run.
  5. Identify powers of attorney (POAs) for your health care and finances. A power of attorney document is separate from a will, but it’s a good idea to do at the same time. Your power of attorney will make decisions on your behalf if, for whatever reason, you’re not able to.

For information about including the Toronto Public Library Foundation in your will, contact Liza Fernandes, 416-397-5924 or click here.