Will writing is an essential aspect of financial and estate planning as it represents an individual's intentions regarding the distribution of assets upon death. A will gives individuals some level of security, control, and reassurance about the future, as it reflects their desires and decisions to provide for themselves and their family, friends, and preferred social and charitable causes. Developing a will represents a memorable lifetime event for most, acting in a dual role as the testament of an individual's life and estate in the eyes of family, as well as addressing the financial, tax, and succession implications. From a business perspective, preparing a will signifies a crucial part of wealth planning and is part of the broader legal and financial services, including, most notably, tax, estate, and financial planning. From a legal view, a person's decision not to make a will raises important problems in probate or administration proceedings, as well as contentious disputes over inheritance as a result of dying 'intestate', meaning without a valid will.

Leaving a will at death, or involving a professional person in planning how to dispose of one's property after departure, is a contentious matter that may cause conflict, intra-family disputes, or court injustice. The failure to make a will causes perplexities; death, because of its prominence and the adverse consequences of not disposing of the estate assets effectively, renders it a sensitive, emotional, as well as intellectual issue. Fortunately, drawing up a will and being involved in affairs such as long-term care planning, putting in place a financial lasting power of attorney, and trust administration is on the increase even though the society we live in is becoming uncertain. A passionate plea to all is to seek legal advice from a competent professional when making such an important legal document, as this will save the bereaved family and friends much upset, delay, and expense in the long run.

Legal Framework and Regulations in Will Writing

Will writing is heavily governed by legal frameworks and regulations that can vary from jurisdiction to jurisdiction. These include common law, statutory regulations, and local guidelines. A valid will must comply with the formalities outlined in these laws. Statutory regulations define the formalities required for the creation and execution of a will. These are the technical legal requirements to ensure a will is valid. Under these formalities, the person making the will ("testator") has to be aware that they are creating a document that disposes of their estate after death. They also have to sign or acknowledge their signature in the presence of two witnesses, who also sign the document.

This requirement stems from legislation that consolidates numerous archival statutes. If a will does not meet the required formalities, or lacks them altogether, the laws of intestacy will apply. Statutory regulations also detail how a will can be revoked or altered. It is good practice that a will is reviewed at every change in a person’s circumstances; due to the infrequency in reviewing, it is advised that a will is reviewed every five years. The two most common methods of revoking or altering a will are by creating a new will or by creating a codicil. If a will is revoked, it is advised that it is ripped up or destroyed in order to avoid confusion, or worse, after the testator has died. There are certain cases where some courts will have the power to revive wills that have previously been revoked, but this will usually require a court order. Different jurisdictions have different laws surrounding the revocation of a will by marriage. In this instance, it is important that local laws and customs are checked. In Scotland, for example, marriage will only affect the will if it was prior to a specific date and not in contemplation of death.

In addition to the statutory regulations, there still exist some age-old legal concepts such as holographic wills, in which the entire document is written and signed in the testator’s handwriting. Likewise, an oral will is when a testator declares their wishes either in writing or speech and nominates an executor to uphold these wishes. The capacity to make a will is not determined based on the capacity to make contracts or be qualified for voting or holding public office. The testator must have a clear mind at the moment of making the will. A written will is not deemed invalid, no matter how trivial it may seem to some. All the points ought to be clarified by a lawyer either for the testator or to inscribe an attestation to show their knowledge of what is stated. Any ambiguity or any omission might cause legal problems after the defendant’s demise. Legal scribes are aware of the rules and guidelines required to make a valid will that abides by the law of a specific jurisdiction and is invulnerable against any errors or deceit. The role of the attorney at law is exceptional in ensuring a valid completion of the whole process. In certain regions, a no-win no-fee service is offered to induce people to draft a will with minimum economic costs and little effort. Nonetheless, a survey has found recently that a significant percentage of experts do not possess this important document. A new law has been issued to correct these misunderstandings. In many regions, certain principles are drafted to regulate disputes among those inheriting, where no will exists, to avoid any violations and ensure the interests of the family which may otherwise be affected.

Key Components of a Will

A will, or testament, is a legal document that states a person's final wishes as to how his or her assets are to be distributed after death. This chapter will assist practitioners with the construction of a simple will by defining and explaining the required elements of a will necessary to validate it.

Key Components of a Will (i) Opening Clause (ii) Appoint an Executor (iii) Name the Beneficiaries - Guardianship Provisions - Naming a Guardian - Specific Bequests/Residuary Clauses - Comfortable Sufficiency (iv) Named Bequests (v) Residuary Clauses (vi) Self-Proving Affidavit

For the purposes of illustrating the components of the will, let's assume that the client’s name is Lisa White. Opening Clause: "I, Lisa White, resident of the province of British Columbia, declare this to be my last will and revoke all former wills and codicils." Appoint an Executor: I appoint Daniel Smith as my Executor and Trustee. If he predeceases me or is unable or unwilling to act, then I appoint Geoffrey Dudley as my Executor and Trustee. I direct that he be entitled to charge and be paid his usual professional fees for acting as a solicitor in regard to the estate.

Name the Beneficiaries: "I name the following persons as the beneficiaries under my will: 1. _________________ 2. _________________ 3. _________________ 4. _________________ to be distributed as described in the following paragraph." In the case where a testator inadvertently "forgets" someone in particular and doesn't mention a residual clause, then there is a real, yet misplaced, risk that game-playing could then occur. Specifically, the excluded person has a possible claim pursuant to the Wills Variation Act, and this kind of "omission" carries with its potential planning and income tax ramifications that also are likely to surface down the road in the future.

Common Issues and Challenges in Will Writing

Understandably, will writing does not top most people’s list of favorite activities. Legal jargon, long clauses, and complicated instructions are off-putting, to say the least! However, assuming that you are now convinced of the justification behind writing a will and for using a qualified legal advisor, let’s address some of the most common issues in will writing.

An incorrect interpretation of an instruction could have severe implications, some of which could result in costly legal battles. As much as I would love to believe things never go wrong, the reality often seems to dictate otherwise. In the same vein, many problems occur when laypersons draft their own wills and fail to routinely update them to reflect personal life changes.

The goal of will writing is to preempt, or at least greatly reduce, the potential for disputes between family members according to one’s true intentions. However, sometimes human beings have a way of finding something wrong where there is none. The underlying principle in nearly every will dispute is a perceived lack of communication, usually stemming from at least one of the following main issues.

i. Family members not being able to come to terms with how the deceased wished to distribute assets.

ii. Co-beneficiaries being unable to cohabit with one another.

iii. Children feeling that the testator did not correctly provide for them, as there could be several factors underestimating or overestimating what the position is or ought to be. Some testators are not transparent with all of their children about the specific assets that are held.

iv. Children feeling that a parent has been unduly influenced.

After all, is a comedy of errors in reality and surely not our goal when making financially consequential decisions about bequeathing assets. None of the above issues detract from the fact that a valid will has been executed. The four Wills Act requirements have been satisfied and no conflicts of interest exist. A will dispute arises when a legal challenge is made in respect to the validity of the will.

Best Practices and Tips for Will Writers

As has been mentioned before, it is best to receive professional legal advice from a wills and probate lawyer in order to ensure the proper writing of the will, as well as the proper execution. Another tip is to make sure your finances are in order and to prepare a list of assets and beneficiaries. This will allow you to be clear and concise when you meet with a lawyer to discuss the will. Again, it is best, especially if you have a large number of assets or complex finances, to hire a professional to assist you in creating your will and the equitable distribution of your assets. Another tip is that you should make updates and review your will every time your life goes through a major change, such as a marriage, new children, or the loss of a beneficiary. Also, always ensure that your will is understood, possibly after your passing, and discuss your decisions. The inclusion of a "no contest clause" is a good idea, as it provides a "deterrence effect" and is particularly beneficial should any disputes or challenges arise in the future. Additionally, ensure that all formalities and legal requirements are met to avoid any issues with the will. Avoid using templates and instead have a lawyer draft the will to meet your exact needs and decisions.

Having a clear idea of your intentions and goals will allow you to list any questions or concerns, and they can be addressed by your lawyer before any work is done. It will also provide a clear reminder of your assets and their values. Make sure you know the fees, if there are any, upfront, as well as a deep understanding of the scope of the work which will be performed by the will writer. This will avoid any confusion after the fact and will allow you to be more organized. Also, inquire about fees for changes in the future in case you should decide to make any updates or revisions to your will. Information on your beneficiaries is also important and will help clear up any mistakes or confusion should it arise. Many people may want to leave things to loved ones outside of a will, such as a special collection or stocks they have already transferred over, for example. Records will allow your lawyers to draft a will that will correspond with your wishes. A practice that some lawyers encourage is the completion of a "questionnaire," which will provide valuable information and ideas for the creation of a valid will. Also, name your executors and guardians if you have children. Try to name a backup or two in the event that your first choice may not be able to perform the required duties. A backup should also be named if you have children, so that should the original couple not be able to do it, another set of family can be appointed. A point to note is that the phrase "if alive" should be avoided if possible because it is uncertain and can become ambiguous. Some will even go so far as to specify the age of the executor, as this can keep young children or people outside your family, such as professionals from having control over your estate or having to do so legally. If your estate is complex, or you need your executor to participate in complex tasks, you can appoint a lawyer as well, or as the only executor, as sometimes they are hired as part of the estate work.

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