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Canadian Legal Forms > Wills, Gifts & Trusts > Wills > Specific Bequests and Charities - Wills > Will - Authorization to Pay Pledges to Charitable Organizations
Will - Authorization to Pay Pledges to Charitable Organizations
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’s (the person making the will) estate will first be used to pay off his/her debts. The remainder (referred to as the residue) will then be divided as specified by the testator and distributed to recipients (the beneficiaries) of the testator’s choosing. This Will also provides that if a beneficiary is not yet the age of majority, the executor (trustee) will hold and invest the money in trust for the beneficiary until he/she reaches the age of majority.
In addition, this Will is designed so that the trustee is given the power and discretion to pay off any pledges made by the testator to any charitable organizations, whether or not those pledges are legally binding.This packet includes:
- Information on making a Will,
- Explanations of general terminology,
- Instructions on signing a Will, and
- Will with Authorization to Pay Pledges
Summary of Will Provisions:
- Named Executor
- Residue to Named Beneficiaries
- Special Language to hold bequests in trust if beneficiary isn't of age
- Special Language authorizing the payment of pledges to charities.
See form: Will - Authorization to Pay Pledges to Charitable Organizations
Note: Some forms not suitable for use in the province of Quebec. Check form details.
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