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Canadian Legal Forms > Wills, Gifts & Trusts > Wills > Children and Grandchildren > Will – Devise of Home to Children to Specific Age
Will – Devise of Home to Children to Specific Age
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:
- Named Executor
- Home devised to children up to a certain age
- Residue to children equally
See form: Will – Devise of Home to Children to Specific Age
Note: Some forms not suitable for use in the province of Quebec. Check form details.
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