A will makes it possible to say how property is to be distributed after death. Without a will, property will be distributed according to the provisions of the Civil Code of Quebec. The best way to plan the distribution of property is by a notarial will.
The various types of donations in a will
There are various forms of gift that will allow property to be distributed to heirs:
- A defined sum of money or a specific asset (specific legacy)
- All or the balance of an amount of money remaining after payment of debts and specific legacies (residual legacy)
- Total assets that can be divided between several beneficiaries (universal legacy)
- Life insurance policy
- Retirement savings plan
- Real estate
- Movable property
- Work of art
- Listed shares
- Shares of a mutual fund
Planning gifts by notarial will
Mtre Mona Salehi and her team of notaries can assist you in planning the distribution of your property by means of a notarial will. The notarial will is the form of will that offers the most benefits, both to the testator (person making the will) and to their estate (greatly facilitating the liquidation of the estate).