 |
Canada Legal .com™ Directory of Canadian Legal Resources |
Canadian Legal Forms > Wills, Gifts & Trusts > Wills > Specific Bequests and Charities - Wills > Will - Purchase of Annuity
Will - Purchase of Annuity
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 used to purchase a life annuity for a recipient (the beneficiary) of the testator’s choosing. The Will also provides that if a beneficiary is not yet the age of majority, the executor will hold and invest the money in trust for the beneficiary until he/she reaches the age of majority.
This packet includes:
- Information on making a Will,
- Explanations of general terminology,
- Instructions on signing a Will, and
- Will providing for the purchase of an annuity
Summary of Will Provisions:
- Named Executor
- Residue to purchase an annuity for the benefit of one beneficiary
- Special language to hold the annuity income in trust if beneficiary is not yet of age
See form: Will - Purchase of Annuity
Note: Some forms not suitable for use in the province of Quebec. Check form details.
Other Canadian legal forms are also available at LawDepot.com, FindLegalForms.com, and MegaDox.com.
See also more: FormsHound.com, Canadian Legal Forms, and Legal Forms.
|
NOTICE: E.&O.E. See important legal disclaimer (www.canadalegal.com/legal.asp) |
| ©1998-2024 Canada Legal .com | May 3, 2024 |