We hadn’t updated our wills since 1996 and it wasn’t until 2008 that we finally did it to include our grandchildren and Catholic Missions In Canada. I felt relieved knowing that the procrastination had stopped and, like CMIC’s former president Fr. Roger Formosi said back on his retirement, “I’m putting my money where my mouth is.”

Creating an informal will encourages you to think through family issues, individual needs, parental responsibility, charities you wish to support and potential use of your funds. You may not have a million dollars or maybe you have 20 times that amount. Whatever the size of your estate, some of the issues will be the same — will you leave it all to family? Will you include a charitable bequest?
And if you do choose to help a charity, will you establish an endowment fund or give a gift to be used where needed most?

This may lead to discussions with others about your will. It may prompt you to call your lawyer.

Here are some practical and important questions to consider:

Who will you choose as your estate trustee (executor)? 
This person could be a trusted family member or friend. Or you may wish to name co-executors, a family member or friend with your lawyer or trust company. In this way, it won’t be too big of a burden on your family member or friend in an emotional time or crisis. Whoever you choose, choose with care.



Where should you store the original copy of your will?
Preferably, keep your original copy with your lawyer. If you must keep it at home, do so in a ziplock plastic bag and store in your freezer. Yes, this works. It’s safe from fire and most likely loss.

Wills have been known to disappear. Don’t forget to let your executor know where your will is. 


Never store your will in your safety deposit box. Banks will not allow access to your safety deposit box until your will has been probated by the courts.

Why would a will be revoked?
Marriage revokes a will unless it has wording that it is made in contemplation of marriage. 
A separation does not revoke a will. A divorce voids gifts to a spouse. 
Alterations to your will could cause it to be revoked. Doodles, marks or additions to your will, even in your own handwriting, are not acceptable. If you need to make changes, speak to your lawyer.

To discuss these and other questions, call me at 1-866 YES-CMIC (967-2642) or e-mail me at: winnie@cmic.info.

If you leave a gift to Catholic Missions In Canada in your will, we encourage you to let us know. It will help us honour your bequest in the way you wish, but best of all, it allows us to thank and honour you during your lifetime and to include you in our Legacy Circle.

(Winnie Quinn is Manager, Gift Planning for Catholic Missions In Canada.)

Estate planning checklist

o Is your current will out of date?
o Have you moved to a new province?
o Has your net worth or employment status changed?
o Have you recently married or had children?
o Do you want to add or remove any beneficiaries?
o Have you chosen a lawyer?
o Have you used a tax advisor to minimize tax?
o List your bank accounts, life insurance policies, securities, investments, RRSPs and RRIFs; safety deposit box or storage facility; principal residence, rental properties and cottage value; vehicles, boats, jewellery, etc.
o Are you expecting any inheritances?
o List all your debts.
o Have you chosen your estate trustee?
o Does your estate trustee know where your will is kept?
o Will your estate trustee have the authority to invest your assets until the final disbursement is done? Do you want restrictions placed?
o Have you named a guardian of your minor children?
o Have you told your guardian the importance of making sure your children are raised in the Catholic faith and receive all their sacraments?
o If you are married, have you left your RRSPs or RRIFs to your spouse or dependent child?
o Are the beneficiaries of the assets in your will consistent with the beneficiary listing in the attached plans?
o Are there personal items that you would like a certain family member or friend to have?
o Do you need a testamentary trust for your spouse or child?
o Does a beneficiary require special care?
o Have you included your parish or favourite archdiocesan charity in your will?
o Have you notified the Church of your bequest intention so you can be included in the Legacy Society of the archdiocese of Toronto?
o How can you reduce probate?
o How can you reduce your estate’s income tax?
o If you have a business, do you need a succession plan?
o If you want to be an organ donor, have you signed a donor card and told your family?
o Do you need a power of attorney for management of property?
o Do you need a power of attorney for personal care (or living will)?
o Have you shared your wishes with your family?