The Store
The Children and Grandchildren (Canada) Business/Services Section
Will – Elderly Person, Establishment of Fund for each Grandchild, Payable in Stages (Canada)
  Creating a Last Will & Testament is a key part of financial planning, no matter how young or healthy you may be. It's essential to plan for the future of your survivors, and a Will is the most important legal document you can create to ensure that they won't be entangled in a lengthy probate process. This Will is specifically designed for the situation where the testator (the person making the will) instructs the executor (also known as the trustee) to distribute his/her estate to his grandchildren. The estate will first be divided equally into shares, one for each child the testator had. Each such share will then be divided equally by the children of each testator’s child (the testator’s grandchildren) (e.g. the testator had two children Rob and Sally. Rob has one child, Tim. Sally has two children, Harold and Mel. Tim will receive one half of the testator’s estate and Harold and Mel will each receive one-fourth of the testator’s estate). This Will also provides that if a beneficiary is not yet 30 years old, the executor (trustee) will hold and invest the money in trust for the beneficiary and will distribute the funds to the beneficiary in three stages. At age 21, the beneficiary will begin receiving the income made by his trust assets. At age 25, the beneficiary will receive one-half of the trust assets. At age 30, the beneficiary will receive the remainder of the trust assets. This packet includes: • Information on making a Will, • Explanations of general terminology, • Instructions on signing a Will, and • Will establishing trust fund for grandchildren This form can be used in the following provinces and territories: Alberta, British Columbia, Manitoba, New Brunswick, Newfoundland and Labrador, Northwest Territories, Nova Scotia, Nunavut, Ontario, Prince Edward Island, Saskatchewan and Yukon. Summary of Will Provisions: 1) Two Executors 2) Trust fund established for grandchildren payable to them in stages |
Will – Establishment of Fund for Each Child Equally, Payable in Stages (Canada)
| Creating a Last Will & Testament is a key part of financial planning, no matter how young or healthy you may be. It's essential to plan for the future of your survivors, and a Will is the most important legal document you can create to ensure that they won't be entangled in a lengthy probate process. This Will is specifically designed for the situation where the testator (the person making the will) instructs the executor (also known as the trustee) to distribute his/her estate to his children equally. This Will also provides that if a beneficiary is not yet 30 years old, the executor (trustee) will hold and invest the money in trust for the beneficiary and will distribute the funds to the beneficiary in three stages. At age 21, the beneficiary will begin receiving the income made by his trust assets. At age 25, the beneficiary will receive one-half of the trust assets. At age 30, the beneficiary will receive the remainder of the trust assets. This packet includes: • Information on making a Will, • Explanations of general terminology, • Instructions on signing a Will, and • Will Creating a Trust Fund for Each Child Summary of Will Provisions: 1) Named Two Executors 2) Residue Placed in Trust for Each Child 3) Special Language if child is not 21 releasing the funds in stages This form can be used in the following provinces: Alberta, British Columbia, Manitoba, New Brunswick, Newfoundland and Labrador, Northwest Territories, Nova Scotia, Nunavut, Ontario, Prince Edward Island, Saskatchewan and Yukon. |
Will – Devise of Home to Children to Specific Age (Canada)
| Creating a Last Will & Testament is a key part of financial planning, no matter how young or healthy you may be. It's essential to plan for the future of your survivors, and a Will is the most important legal document you can create to ensure that they won't be entangled in a lengthy probate process. This Will is specifically designed for the situation where the testator (the person making the will) first instructs the executor (also known as the trustee) to distribute the testator’s home to his/her children under the age of 25. Once the last child reaches the age of 25, the house will then become part of the residue of the estate. After the testator’s debts are paid off, (referred to as the residue) all of the testator’s assets will then be distributed equally to the testator’s children. This packet includes: • Information on making a Will, • Explanations of general terminology, • Instructions on signing a Will, and • Will devising home to children to a specific age Summary of Will Provisions: 1) Named Executor 2) Home devised to children up to a certain age 3) Residue to children equally This form can be used in the following provinces: Alberta, British Columbia, Manitoba, New Brunswick, Newfoundland and Labrador, Northwest Territories, Nova Scotia, Nunavut, Ontario, Prince Edward Island, Saskatchewan and Yukon. |
Will – Residue to Children in Three Stages (Canada)
| Creating a Last Will & Testament is a key part of financial planning, no matter how young or healthy you may be. If you have children, it's essential to plan for their future, and a Will is of the most important legal documents you can create to ensure that they won't be entangled in a lengthy probate process. This Will is specifically designed for the situation where the testator (the person making the will) has children. The Will first instructs the executor (also known as the trustee) to pay off any of the testator’s debts or expenses. The remainder will then be distributed to the testator’s children in equal shares. This Will also provides that if a beneficiary is not yet 30 years old, the executor (trustee) will hold and invest the property/money in trust for the beneficiary and will distribute the funds to the beneficiary in three stages. At age 21, the beneficiary will begin receiving the income made by his trust assets. At age 25, the beneficiary will receive one-half of the trust assets. At age 30, the beneficiary will receive the remainder of the trust assets. This packet includes: • Information on making a Will, • Explanations of general terminology, • Instructions on signing a Will, and • Will distributing estate to children in stages Summary of Will Provisions: 1) Named Executor 2) Residue to children equally, to be distributed in stages if children are not yet 30 This form can be used in the following provinces: Alberta, British Columbia, Manitoba, New Brunswick, Newfoundland and Labrador, Northwest Territories, Nova Scotia, Nunavut, Ontario, Prince Edward Island, Saskatchewan and Yukon. |
Will – Establishing a Trust Fund for One Child (Canada)
| Creating a Last Will & Testament is a key part of financial planning, no matter how young or healthy you may be. If you have children, it's essential to plan for their future, and a Will is of the most important legal documents you can create to ensure that they won't be entangled in a lengthy probate process. This Will is specifically designed for the situation where the testator (the person making the will) chooses to establish a trust fund for one child. The executor is instructed to pay off any debts and expenses of the testator. The remainder (referred to as the residue) will then be placed in a trustfund for the testator’s child. The funds will be released in three stages. At the age of 21, the beneficiary will receive 1/3 of the trust assets. At age 25, the beneficiary will receive one-half of the remainder. At age 30, the beneficiary will receive the remainder of the trust assets. This packet includes: • Information on making a Will, • Explanations of general terminology, • Instructions on signing a Will, and • Will Creating a Trust Fund for One Child Summary of Will Provisions: 1) Named Executor 2) Residue Placed in Trust for One Child 3) Special Language if child is not 21 releasing the funds in stages This form can be used in the following provinces: Alberta, British Columbia, Manitoba, New Brunswick, Newfoundland and Labrador, Northwest Territories, Nova Scotia, Nunavut, Ontario, Prince Edward Island, Saskatchewan and Yukon. |