If there’s one thing you should know about wills it’s that you need to have one!

Manzil’s now offering will services that calculate a division of your estate and generate accredited wills that are compliant with Islamic law. Let’s break it all down, though.

What is a Will?

Your will, or “last will” is a legal document that breaks down how you want to distribute your assets such as money or property after you die. You will also outline guardians or custodians that you would want to care for minor children or your pets. This is also where you would name your executor or the person who will be in charge of sorting out your affairs on your behalf.

Creating a will is not something that you delay. It’s something that you should create sooner rather than later. Once you reach the age of majority in your province, you should create your will. If you pass away without a will, the courts will have to appoint an administrator to wrap up your estate and it may not be the person you would have chosen because you don’t have a will!

If you don’t have a will yet, some key factors often drive people to create their will:

• Those who recently got married or are contemplating getting married. Marriage revokes a will in many provinces unless it was made in contemplation of marriage

• Those who recently went through a separation or divorce

• Those who have assets such as a home or multiple properties

• Those who have children or other dependents

• Those who own a business or investments

You want to have peace of mind that your assets will be distributed the way you would have wanted.

How can I make a will with Manzil?

Creating a will with Manzil will cost you CAD 99! This will ensure that you can distribute your assets and property, plan for your children and their inheritance and make your final wishes known. Manzil’s wills are also compliant with Islamic law and will save you hundreds of dollars.

What happens if I die without a Will?

Thinking about death is not morbid, it’s realistic! We simply don’t know when our last day is going to be, but we do know that it’s inevitable. If you die completely or partially without a will, the law says that you have died intestate which means that you did not leave any instructions as to how you would like your assets to be divided. In this case, your properties will be divided according to the laws of the provinces or territories that you live in. If you choose not to make a will or don’t get a chance to before you pass away, your estate will not be divided the way you want it to be. Additionally, courts would decide who becomes the caregiver of any children and the process of closing your affairs may take months or even years longer than if you have had a written will.

When I die, what happens to my Will?

Your will becomes the guide that helps your executor settle your affairs on your behalf. The executor will have to distribute your assets as you requested, which includes transferring ownership, paying off debts, distributing remaining assets and filing income tax returns in accordance with the will. They’re also responsible for following your instructions with regard to disposal of your remains and funeral planning.

In part two, we will cover all other questions you might have about your will. Happy reading!