What will you do about you estate when you pass or are still live? When you’ve decided to pledge your life and love to another person in marriage, you have to think about what’s ahead for your future together. Where will you live? Will you start a family? What happens to your individual and collective assets? This is true no matter where you spend forever, including Canada. One of the things you and your spouse should discuss is estate planning and who gets your assets when you pass on.
Deferring Taxes
While Canadians don’t have to deal with an estate tax like their neighbors to the south, they have to face a deemed disposition tax. Any investments that you have are sold after your death, triggering this tax, which is included in a final return. That taxation can be quite significant. You have the option of transferring your assets to a surviving spouse, which defers this tax. This can save your partner a considerable amount of money if these assets are placed in a living trust.
Taking Care of Business and Your Estate
It’s important for you to have a will to make sure your assets are handled according to your wishes after you die. This is especially true if you leave a spouse and children behind. Without a will, the province you lived in gets to decide how your assets are distributed among the people who survive you. The lack of a will can also lead to unnecessary expenses and delays. The court assigns administrators to serve as executors of your estate. The process can be especially lengthy when there are minors involved, as a bonded guardian must be appointed to handle distributing your assets.
Demystifying the Documents For Your Estate
We’ve already mentioned a living trust and a will as must-haves for estate planning. Let’s take a closer look at these and other documents that help you get your affairs in order.
Last Will and Testament: This document provides guidance to your executor on how your possessions should be distributed. A will doesn’t include instructions for funerals and burials, as it is usually read afterward in the presence of your beneficiaries.
Living Trust: While a will transfers assets after you die, a trust does so while you’re alive. It is more legally binding than a will, and it avoids the probate process that can be costly.
Power of Attorney: Many Canadian couples pledge to stick together in sickness and in health. If you’re ever incapable of managing your affairs, the power of attorney designates a person to manage certain activities on your behalf, including paying bills, voting, filing taxes and making financial decisions. If you want your spouse to make key decisions should you become incapable, the power of authority legally authorizes him, her or them to handle your business.
Living Will: A living will outlines your wishes for medical treatment and healthcare decisions when you’re unable to communicate them. It also grants a person medical power of attorney to make decisions if you’re in a coma, terminally ill or otherwise unable to convey your wants.
Each of these documents makes specific provisions for getting your affairs in order, both in life and death. It’s important to wrap your arms around these documents, especially if you’re contemplating marriage and starting a family.
Avoiding Probate
The probate process was mentioned when talking about a living trust. Probate involves verification that the last will is valid and cannot be contested. There are significant costs associated with the probate process. A living will eliminates the probate process, but there are other options worth exploring, such as making tax-free gifts of your assets before death. It is recommended that you discuss your options with an estate planning professional.
Tying the knot marks a major milestone in your and your partner’s life. As you contemplate your shared future, it’s important to plan and prepare for “in sickness and in health, till death do you part.” Having the necessary documents completed can save you and your loved ones time and money.
Canada reports thousands of new COVID-19 cases every day and more than 14,000 deaths to date. With these numbers, it’s no surprise that more Canadians are getting their wills done. As Global News reported in April 2020, they’re flocking to estate planning services such as Willful. Some companies reported a fourfold increase in business since March 2020. But is a will your only estate planning option? Living trusts work a little differently than wills, but they offer unique advantages. Learning more about trusts can help you make wise decisions for your family’s future.
Differences Between Wills and Trusts
Both wills and trusts do the same thing – transfer assets to beneficiaries. But a will only takes effect after its creator dies. Yet even then, this doesn’t happen right away. There’s the probate process, which verifies whether a will is legally valid. It all oversees an estate’s debt payments and asset distribution. The entire probate process can take more than a year to finish. If your estate is more complicated than usual, probate can last several years.
Like a will, a living trust is a legal document. You may hear it called an “inter vivos trust.” The grantor, or the person creating the trust, must write a trust agreement. Investopedia clarifies that the trust itself is a legal entity that owns whatever assets are put into it. Trusts can contain physical assets, financial accounts, and investments. A living trust may also hold intangible assets such as digital files, social media accounts, and intellectual property. Your trust can even include ownership stakes in private businesses.
How Living Trusts Work
A trust agreement spells out how and when to transfer the grantor’s assets. This agreement usually includes three or four parties:
Trustor
Trustees
Successor trustees
Beneficiaries
Asset transfers usually happen when the grantor dies. However, they can also occur if that individual becomes incapacitated. Of course, all this depends on the specific instructions contained in the trust agreement.
Revocable living trusts are the most common type in estate planning. That’s because trustors can update them at any time. You can add or remove assets, change distribution instructions, update beneficiaries, and more. Investopedia adds that a revocable trust’s grantor can also be a trustee. Successor trustees take over the trust’s management when the primary trustees cannot. For instance, you could name your adult children as successor trustees.
Benefits and Disadvantages of Living Trusts
Like any other estate planning tool, living trusts have their pros and cons. MoneySense explains that assets in a trust do not go through the probate process. The trust itself also remains private. Information about its contents doesn’t become public knowledge unless it’s legally contested.
The major drawback to living trusts is their cost. MoneySense mentions that annual tax filings are required. As a result, many trust creators need professional tax and legal advice. Canadians may also take a bigger hit in the pocketbook at tax time. That’s because trust incomes are taxed at a combined federal and provincial rate, which works out to around 50%. This is much more than what U.S. trustors pay – that’s why living trusts are more popular south of the border. Some assets can’t be put into a trust, MoneySense adds, so you still may need a will and an executor to make sure your wishes are carried out.
Choosing the Right Planning Tools
Estate planning is as individualized as designing a wedding or a funeral. Wills and living trusts are powerful planning tools, but they use different approaches. Understanding how these tools work, plus their benefits and drawbacks, is important. Selecting the best methods and strategies is key to ensuring that your family is taken care of after you’re gone.
Do you have a plan for your estate? Global News reported in April 2020 that 51% of Canadians do not have a will. But COVID-19 has prompted more people to make their wills. Having one is essential, but you must understand what it does and how it works. This quick guide to wills in Canada can help as you’re making your estate plan.
Why You Should Have a Will
Canadian law doesn’t require you to make a will, but it’s still a good idea to have one. Your will tells your family and legal authorities how to divide your estate after you’re gone. If you have children, a will should name a guardian to raise them. You can also set aside trust funds for your children, as well as any family pets.
Dying intestate means you don’t leave a valid will – and your province or territory laws govern your estate’s distribution. The first $50,000 usually goes to your surviving spouse. Investopedia adds that remaining assets get distributed between your spouse and children. If you have neither, your parents and siblings will receive your estate.
What Counts as an Asset
Your estate contains two key things: your assets and your liabilities. People typically think of physical assets like vehicles, jewelry, and antiques. Other assets include bank accounts, investments, and real estate. The scope of assets also encompasses computers, photographs, audio-visual equipment, musical instruments, and even furniture. Businesses you own, whether alone or as a partner, are also part of your estate. Canadian law considers animals as property, so you should leave your pets to someone you trust.
Don’t forget about intangible assets – patents, trademarks, and copyrighted materials. Digital assets include photos, music files, e-books, and documents as well as social media, email, online gaming, and blog accounts. CIBC explains that Canadian estate laws don’t address digital assets, but you should include them in your will. You’ll need to leave explicit instructions for their distribution. It’s also wise to create a separate inventory of all your accounts, including provider and login information. Be sure to check each provider’s terms of service before adding digital assets to your will.
What Makes a Will Valid
Your will must meet some basic criteria to be valid. Ontario-based Steps to Justice mentions that it must contain some key elements:
Your name
A date
Your signature
Signatures of two witnesses
Both witnesses have to watch you sign it. Meanwhile, one must sign an affidavit of execution stating that you signed the will in front of them. The COVID-19 pandemic has made it harder to have witnesses physically present. That’s why many provinces have passed emergency orders to allow virtual witnessing. Mondaq lists Quebec, Ontario, British Columbia, Alberta, and Saskatchewan. Check your province or territorial laws for guidelines. The Financial Consumer Agency of Canada has more information on wills in each province and territory.
How To Make a Will
There are three different ways you can create your will in Canada. Retire Happy mentions holographic wills, entirely handwritten by the person making the will. Alberta, Manitoba, New Brunswick, Newfoundland, Ontario, Quebec, and Saskatchewan honor these wills. A holographic will must do four important things:
List the testator’s full name
Declare that it is the “last will and testament”
Name an estate trustee
Spell out the person’s wishes
You can also look to online services if your estate is relatively simple. For more complex estates, experts recommend hiring a lawyer.
Smart Planning for Your Family’s Future
Your will probably isn’t the first thing on your mind every day, but it’s critical to your financial planning. Doing your homework is essential, but so is choosing trusted professionals and resources. These steps can help you compose a will that best meets your needs and those of your family.
Why do we fear death in modern times, and has this caused other problems for humanity? Anxieties about death may be at the root of our social ails.
Are you afraid of death? Many civilizations viewed it as an inseparable part of existence. Technology and medicine have lengthened our lives, but our world is also full of economic, social, and environmental turmoil. Why do we fear death in modern times, and has this caused other problems for humanity? As surprising as it may seem, anxieties about mortality may be at the root of our social ails.
Why We Avoid Thinking About Death
If you can’t wrap your mind around your own mortality, your brain may be to blame. Live Science mentions that our brains shield us from the idea of our own mortality. Researchers theorize that this may have evolved to ensure our survival. Greater awareness of our deaths could have made us more risk-aversive, discouraging us from engaging in activities like gathering food or finding mates.
Astonishing as this idea sounds, it’s not new. In his 1973 book “The Denial of Death,” psychologist Ernest Becker concluded that humans actively avoid thinking about their own mortality. On the Ernest Becker Foundation website, Glenn Hughes adds that mortality-related anxieties can prompt rigid identification and adherence to political, religious, or ideological beliefs. If these grow into intolerance and self-righteousness, it can lead to persecution, bigotry, and oppression.
There may be real-world evidence for Becker’s ideas. In the 2015 book “The Worm at the Core: On the Role of Death in Life,” authors Sheldon Solomon, Jeff Greenberg, and Tom Pyszczynski document their experiments based on Becker’s thesis. They concluded that “after people are reminded of their mortality they become much more hostile and vicious.” Speaking to journalist Carey Goldberg, Solomon added that excessive fear of death influences our judgment, limiting our compassion for others and even impacting how we vote.
Religion, Mortality, and the Afterlife
Did our ancestors’ fear of death create religion? According to New Humanist writer Lewis Wolpert, anthropologist Bronisław Malinowski proposed that religion may have helped quell human anxieties about mortality. People desire answers and certainty to cope with the unknown. Belief in an afterlife and the existence of the soul could offer comfort to the living. Rewards in the afterlife can make our struggles seem to be worth the tribulations that come with them. Maybe it isn’t so bad if we reside in Paradise after we pass away, so the logic goes.
Sheldon Solomon proposes that culture develops to provide meaning in life and combat the terror of mortality. Culture and religion are often intertwined. Religious beliefs can be expressed as empathy and inclusive attitudes towards others. Fundamentalism does the exact opposite: gatekeeping and shutting others out, reducing one’s worldview to “us against them.”
The Death Positive Movement
The Order of the Good Death is at the forefront of the Death Positive Movement. It seeks to remove social stigmas around death, suggesting that the “culture of silence” surrounding it can be broken through discussion, learning, innovation, and artistic expression. Its key goals also include empowering people to care for their dead and make their own end-of-life decisions.
Learning from other cultures can also help, especially since many non-Western cultures deal with death more openly. Ghanaians throw funeral parties and craft elaborate coffins. Cultural Colectiva’s Zoralis Pérez describes Ma’nene, an Indonesian ritual in which mummified corpses are exhumed, cleaned, dressed, and interacted with by their families. Traditional Irish wakes began when a deceased person’s female relatives washed and kept vigil near the body.
Death as Part of Life
One day, each of us will die. How we handle death is just as important as how we deal with life. Religion and philosophies may provide some comfort, but altering our cultural view of mortality is also essential. This change can help us develop better coping skills and possibly understand the roots of social problems plaguing us today.
Thanatology, the study of death, may help unpack our reactions as well as cultural and spiritual practices surrounding dying and grieving.
Are you afraid of death? How do you cope when a loved one dies? You may go to friends and family for solace, journal about your feelings, focus on other matters, or look to your religious beliefs for answers. These are common coping strategies in the face of death, but there’s often more lurking beneath the surface. Thanatology, the study of death and its psychological impacts, may help unpack our reactions as well as cultural and spiritual practices surrounding dying and grieving.
A Quick Overview of Thanatology
Oxford Dictionary defines thanatology as “the scientific study of death and the practices associated with it.” It is appropriately named after Thanatos, the Greek personification of death. The Encyclopedia of Death and Dying explains that Russian scientist Elie Metchnikoff stressed the importance of studying dying in the early 20th century. Yet it wasn’t until after World War II that anyone followed his suggestions. Some of the first texts include 1959’s “The Meaning of Death,” edited by Herman Feifel, and “The Psychology of Death,” published in 1972 by Robert Kastenbaum and Ruth Aisenberg.
Thanatology is an interdisciplinary field relying on science, medicine, psychology, and sociology, but it also draws from disciplines such as theological studies, history, economics, law enforcement, and philosophy. Its scope of interest covers how death impacts individuals, family groups, and societies. Besides the death event itself, thanatologists also examine the needs of terminally ill individuals and their families.
Religious Beliefs and the Death System
When a loved one dies, we rely on a collection of individuals and institutions to help. In 1977, Robert Kastenbaum coined the term “death system” for this interconnected matrix of people and groups. Depending on the society, the death system can include everything from hospitals to clergy. The Encyclopedia of Death and Dying breaks down its various functions:
Predicting and warning about death
Caring for dying individuals
Creating funerary customs and practices
Consolation for living family members
Making sense of death
Determining any morals and ethics of killing
Many of religion’s primary functions exist in relation to the death system. It attempts to explain what happens after we die, then suggests beliefs and practices for attaining the best afterlife outcomes. These ideas usually reflect what each society considers fair, just, and moral.
One great example of how a death system and culture interface comes from ancient Egypt. This society believed in immortality and viewed the world in terms of “ma’at,” a guiding principle that stressed truth, order, harmony, balance, and morality. While one’s good deeds or sins may have differed slightly according to class or profession, everyone was expected to deal honorably, honestly, and kindly with others. The Ancient History Encyclopedia explains that Kemetic people expected their hearts to be weighed against the Feather of Truth. Egypt’s Great Pyramids, elaborate funerary customs, religious hierarchy, and cultural beliefs supported its death system in hopes that the deceased would fare well in the afterlife.
Thanatology in Canada
While thanatology can look at wider cultural institutions and constructs, many study the field today to provide practical help to others. Courses and study programs are offered at King’s University College and Centennial College, with continuing education options becoming more prevalent. Career applications for thanatology often include bereavement counseling, palliative care, social work, and counseling and support for terminally ill people.
For much of human history, religion and culture have often been interconnected. A society’s attitudes toward death, funerary rituals, and religious practices can reflect quite a bit about its values. These may seem like disparate components on their own, but thanatology attempts to bring them together and view them as a systematic whole. When it comes to our faiths and spiritual beliefs, a deeper examination helps us comprehend how they may provide comfort or prepare us for our own mortality.
A family legacy is a great way to have loved ones remember you and all that you have done.
May was National Leave a Legacy month, a public awareness campaign that encourages people to leave a gift to a favorite charity when they die. The idea was to support a cause that was near and dear to your heart with money as a lasting family legacy, kind of a footprint to be remembered by those in your community.
Most people hope that their life matters. Maybe you don’t have the money to leave to a charity. A financial gift can do a lot, but according to Billy Graham, “The greatest legacy one can pass on to one’s children and grandchildren is not money or other material things accumulated in one’s life, but rather a legacy of character and faith.” Although no one likes to consider their death, the best way to leave a legacy is to consider it now. Here are five things to think about when planning your legacy:
What’s most important to you in your life?
Think about what you want to leave as your legacy. If your family were to think of you 10 years after you die, what would you want them to remember?
Where did you find inspiration or transformation in your life’s journey?
Maybe you had a life-changing moment in a college class. Were you touched by cancer? What has made you who you are today?
What blessings have you been given that you want to share with others?
These blessings could be tangible, for example, a set of chinaware given to you by your grandmother, or intangible, such as peace or kindness. If you have tangible items that your family doesn’t appreciate, think about who might use the objects. Check with local museums or charities.
What causes are important to you?
Most people support at least one organization in some way. It could be a church or synagogue. Maybe you have a favorite 5K run you do each year. Your passion is your legacy.
Who do you mentor?
Mentoring isn’t always a formal relationship. You can mentor people in your family, your church or your community just by being available. These relationships can last a lifetime, even after the period of mentorship is over. These people are your legacy.
Planning a Family Legacy
Your will is not a legacy, but it can be part of it. A written memorial can help your family know what you want after your death, but your legacy encompasses so much more. Whether you plan to leave a legacy or not, you will have a legacy. You may not ever think about how people will remember you, but they will remember who you were and what your passions were. You can’t really tell people how to think of you after you die, but you can leave ideas on how you want to be remembered.
Think about the people in your life who have passed on. Maybe you remember your grandpa smoking a pipe and telling stories. For some, it might be the smell of fresh apple pie coming from Aunt Mabel’s kitchen. Those are the legacies of your loved ones. It’s likely that Aunt Mabel never told you to remember her apple pie, but you did. Your children and grandchildren are likely to be the same way.
Those activities and character traits you pursue will be your legacy. What you’ve been dedicated to throughout your life is what you will be honored for. If you don’t like the legacy you are leaving, then it’s time to change your life. Maybe you will want to give money to a charity or leave a note to your family about something special to you. More importantly, think about relationships, faith and character. Are you living the way you want to be remembered?
What will you do about you estate when you pass or are still live? When you’ve decided to pledge your life and love to another person in marriage, you have to think about what’s ahead for your future together. Where will you live? Will you start a family? What happens to your individual and collective assets? This is true no matter where you spend forever, including Canada. One of the things you and your spouse should discuss is estate planning and who gets your assets when you pass on.
Deferring Taxes
While Canadians don’t have to deal with an estate tax like their neighbors to the south, they have to face a deemed disposition tax. Any investments that you have are sold after your death, triggering this tax, which is included in a final return. That taxation can be quite significant. You have the option of transferring your assets to a surviving spouse, which defers this tax. This can save your partner a considerable amount of money if these assets are placed in a living trust.
Taking Care of Business and Your Estate
It’s important for you to have a will to make sure your assets are handled according to your wishes after you die. This is especially true if you leave a spouse and children behind. Without a will, the province you lived in gets to decide how your assets are distributed among the people who survive you. The lack of a will can also lead to unnecessary expenses and delays. The court assigns administrators to serve as executors of your estate. The process can be especially lengthy when there are minors involved, as a bonded guardian must be appointed to handle distributing your assets.
Demystifying the Documents For Your Estate
We’ve already mentioned a living trust and a will as must-haves for estate planning. Let’s take a closer look at these and other documents that help you get your affairs in order.
Last Will and Testament: This document provides guidance to your executor on how your possessions should be distributed. A will doesn’t include instructions for funerals and burials, as it is usually read afterward in the presence of your beneficiaries.
Living Trust: While a will transfers assets after you die, a trust does so while you’re alive. It is more legally binding than a will, and it avoids the probate process that can be costly.
Power of Attorney: Many Canadian couples pledge to stick together in sickness and in health. If you’re ever incapable of managing your affairs, the power of attorney designates a person to manage certain activities on your behalf, including paying bills, voting, filing taxes and making financial decisions. If you want your spouse to make key decisions should you become incapable, the power of authority legally authorizes him, her or them to handle your business.
Living Will: A living will outlines your wishes for medical treatment and healthcare decisions when you’re unable to communicate them. It also grants a person medical power of attorney to make decisions if you’re in a coma, terminally ill or otherwise unable to convey your wants.
Each of these documents makes specific provisions for getting your affairs in order, both in life and death. It’s important to wrap your arms around these documents, especially if you’re contemplating marriage and starting a family.
Avoiding Probate
The probate process was mentioned when talking about a living trust. Probate involves verification that the last will is valid and cannot be contested. There are significant costs associated with the probate process. A living will eliminates the probate process, but there are other options worth exploring, such as making tax-free gifts of your assets before death. It is recommended that you discuss your options with an estate planning professional.
Tying the knot marks a major milestone in your and your partner’s life. As you contemplate your shared future, it’s important to plan and prepare for “in sickness and in health, till death do you part.” Having the necessary documents completed can save you and your loved ones time and money.
Canada reports thousands of new COVID-19 cases every day and more than 14,000 deaths to date. With these numbers, it’s no surprise that more Canadians are getting their wills done. As Global News reported in April 2020, they’re flocking to estate planning services such as Willful. Some companies reported a fourfold increase in business since March 2020. But is a will your only estate planning option? Living trusts work a little differently than wills, but they offer unique advantages. Learning more about trusts can help you make wise decisions for your family’s future.
Differences Between Wills and Trusts
Both wills and trusts do the same thing – transfer assets to beneficiaries. But a will only takes effect after its creator dies. Yet even then, this doesn’t happen right away. There’s the probate process, which verifies whether a will is legally valid. It all oversees an estate’s debt payments and asset distribution. The entire probate process can take more than a year to finish. If your estate is more complicated than usual, probate can last several years.
Like a will, a living trust is a legal document. You may hear it called an “inter vivos trust.” The grantor, or the person creating the trust, must write a trust agreement. Investopedia clarifies that the trust itself is a legal entity that owns whatever assets are put into it. Trusts can contain physical assets, financial accounts, and investments. A living trust may also hold intangible assets such as digital files, social media accounts, and intellectual property. Your trust can even include ownership stakes in private businesses.
How Living Trusts Work
A trust agreement spells out how and when to transfer the grantor’s assets. This agreement usually includes three or four parties:
Trustor
Trustees
Successor trustees
Beneficiaries
Asset transfers usually happen when the grantor dies. However, they can also occur if that individual becomes incapacitated. Of course, all this depends on the specific instructions contained in the trust agreement.
Revocable living trusts are the most common type in estate planning. That’s because trustors can update them at any time. You can add or remove assets, change distribution instructions, update beneficiaries, and more. Investopedia adds that a revocable trust’s grantor can also be a trustee. Successor trustees take over the trust’s management when the primary trustees cannot. For instance, you could name your adult children as successor trustees.
Benefits and Disadvantages of Living Trusts
Like any other estate planning tool, living trusts have their pros and cons. MoneySense explains that assets in a trust do not go through the probate process. The trust itself also remains private. Information about its contents doesn’t become public knowledge unless it’s legally contested.
The major drawback to living trusts is their cost. MoneySense mentions that annual tax filings are required. As a result, many trust creators need professional tax and legal advice. Canadians may also take a bigger hit in the pocketbook at tax time. That’s because trust incomes are taxed at a combined federal and provincial rate, which works out to around 50%. This is much more than what U.S. trustors pay – that’s why living trusts are more popular south of the border. Some assets can’t be put into a trust, MoneySense adds, so you still may need a will and an executor to make sure your wishes are carried out.
Choosing the Right Planning Tools
Estate planning is as individualized as designing a wedding or a funeral. Wills and living trusts are powerful planning tools, but they use different approaches. Understanding how these tools work, plus their benefits and drawbacks, is important. Selecting the best methods and strategies is key to ensuring that your family is taken care of after you’re gone.
Do you have a plan for your estate? Global News reported in April 2020 that 51% of Canadians do not have a will. But COVID-19 has prompted more people to make their wills. Having one is essential, but you must understand what it does and how it works. This quick guide to wills in Canada can help as you’re making your estate plan.
Why You Should Have a Will
Canadian law doesn’t require you to make a will, but it’s still a good idea to have one. Your will tells your family and legal authorities how to divide your estate after you’re gone. If you have children, a will should name a guardian to raise them. You can also set aside trust funds for your children, as well as any family pets.
Dying intestate means you don’t leave a valid will – and your province or territory laws govern your estate’s distribution. The first $50,000 usually goes to your surviving spouse. Investopedia adds that remaining assets get distributed between your spouse and children. If you have neither, your parents and siblings will receive your estate.
What Counts as an Asset
Your estate contains two key things: your assets and your liabilities. People typically think of physical assets like vehicles, jewelry, and antiques. Other assets include bank accounts, investments, and real estate. The scope of assets also encompasses computers, photographs, audio-visual equipment, musical instruments, and even furniture. Businesses you own, whether alone or as a partner, are also part of your estate. Canadian law considers animals as property, so you should leave your pets to someone you trust.
Don’t forget about intangible assets – patents, trademarks, and copyrighted materials. Digital assets include photos, music files, e-books, and documents as well as social media, email, online gaming, and blog accounts. CIBC explains that Canadian estate laws don’t address digital assets, but you should include them in your will. You’ll need to leave explicit instructions for their distribution. It’s also wise to create a separate inventory of all your accounts, including provider and login information. Be sure to check each provider’s terms of service before adding digital assets to your will.
What Makes a Will Valid
Your will must meet some basic criteria to be valid. Ontario-based Steps to Justice mentions that it must contain some key elements:
Your name
A date
Your signature
Signatures of two witnesses
Both witnesses have to watch you sign it. Meanwhile, one must sign an affidavit of execution stating that you signed the will in front of them. The COVID-19 pandemic has made it harder to have witnesses physically present. That’s why many provinces have passed emergency orders to allow virtual witnessing. Mondaq lists Quebec, Ontario, British Columbia, Alberta, and Saskatchewan. Check your province or territorial laws for guidelines. The Financial Consumer Agency of Canada has more information on wills in each province and territory.
How To Make a Will
There are three different ways you can create your will in Canada. Retire Happy mentions holographic wills, entirely handwritten by the person making the will. Alberta, Manitoba, New Brunswick, Newfoundland, Ontario, Quebec, and Saskatchewan honor these wills. A holographic will must do four important things:
List the testator’s full name
Declare that it is the “last will and testament”
Name an estate trustee
Spell out the person’s wishes
You can also look to online services if your estate is relatively simple. For more complex estates, experts recommend hiring a lawyer.
Smart Planning for Your Family’s Future
Your will probably isn’t the first thing on your mind every day, but it’s critical to your financial planning. Doing your homework is essential, but so is choosing trusted professionals and resources. These steps can help you compose a will that best meets your needs and those of your family.
Why do we fear death in modern times, and has this caused other problems for humanity? Anxieties about death may be at the root of our social ails.
Are you afraid of death? Many civilizations viewed it as an inseparable part of existence. Technology and medicine have lengthened our lives, but our world is also full of economic, social, and environmental turmoil. Why do we fear death in modern times, and has this caused other problems for humanity? As surprising as it may seem, anxieties about mortality may be at the root of our social ails.
Why We Avoid Thinking About Death
If you can’t wrap your mind around your own mortality, your brain may be to blame. Live Science mentions that our brains shield us from the idea of our own mortality. Researchers theorize that this may have evolved to ensure our survival. Greater awareness of our deaths could have made us more risk-aversive, discouraging us from engaging in activities like gathering food or finding mates.
Astonishing as this idea sounds, it’s not new. In his 1973 book “The Denial of Death,” psychologist Ernest Becker concluded that humans actively avoid thinking about their own mortality. On the Ernest Becker Foundation website, Glenn Hughes adds that mortality-related anxieties can prompt rigid identification and adherence to political, religious, or ideological beliefs. If these grow into intolerance and self-righteousness, it can lead to persecution, bigotry, and oppression.
There may be real-world evidence for Becker’s ideas. In the 2015 book “The Worm at the Core: On the Role of Death in Life,” authors Sheldon Solomon, Jeff Greenberg, and Tom Pyszczynski document their experiments based on Becker’s thesis. They concluded that “after people are reminded of their mortality they become much more hostile and vicious.” Speaking to journalist Carey Goldberg, Solomon added that excessive fear of death influences our judgment, limiting our compassion for others and even impacting how we vote.
Religion, Mortality, and the Afterlife
Did our ancestors’ fear of death create religion? According to New Humanist writer Lewis Wolpert, anthropologist Bronisław Malinowski proposed that religion may have helped quell human anxieties about mortality. People desire answers and certainty to cope with the unknown. Belief in an afterlife and the existence of the soul could offer comfort to the living. Rewards in the afterlife can make our struggles seem to be worth the tribulations that come with them. Maybe it isn’t so bad if we reside in Paradise after we pass away, so the logic goes.
Sheldon Solomon proposes that culture develops to provide meaning in life and combat the terror of mortality. Culture and religion are often intertwined. Religious beliefs can be expressed as empathy and inclusive attitudes towards others. Fundamentalism does the exact opposite: gatekeeping and shutting others out, reducing one’s worldview to “us against them.”
The Death Positive Movement
The Order of the Good Death is at the forefront of the Death Positive Movement. It seeks to remove social stigmas around death, suggesting that the “culture of silence” surrounding it can be broken through discussion, learning, innovation, and artistic expression. Its key goals also include empowering people to care for their dead and make their own end-of-life decisions.
Learning from other cultures can also help, especially since many non-Western cultures deal with death more openly. Ghanaians throw funeral parties and craft elaborate coffins. Cultural Colectiva’s Zoralis Pérez describes Ma’nene, an Indonesian ritual in which mummified corpses are exhumed, cleaned, dressed, and interacted with by their families. Traditional Irish wakes began when a deceased person’s female relatives washed and kept vigil near the body.
Death as Part of Life
One day, each of us will die. How we handle death is just as important as how we deal with life. Religion and philosophies may provide some comfort, but altering our cultural view of mortality is also essential. This change can help us develop better coping skills and possibly understand the roots of social problems plaguing us today.
Thanatology, the study of death, may help unpack our reactions as well as cultural and spiritual practices surrounding dying and grieving.
Are you afraid of death? How do you cope when a loved one dies? You may go to friends and family for solace, journal about your feelings, focus on other matters, or look to your religious beliefs for answers. These are common coping strategies in the face of death, but there’s often more lurking beneath the surface. Thanatology, the study of death and its psychological impacts, may help unpack our reactions as well as cultural and spiritual practices surrounding dying and grieving.
A Quick Overview of Thanatology
Oxford Dictionary defines thanatology as “the scientific study of death and the practices associated with it.” It is appropriately named after Thanatos, the Greek personification of death. The Encyclopedia of Death and Dying explains that Russian scientist Elie Metchnikoff stressed the importance of studying dying in the early 20th century. Yet it wasn’t until after World War II that anyone followed his suggestions. Some of the first texts include 1959’s “The Meaning of Death,” edited by Herman Feifel, and “The Psychology of Death,” published in 1972 by Robert Kastenbaum and Ruth Aisenberg.
Thanatology is an interdisciplinary field relying on science, medicine, psychology, and sociology, but it also draws from disciplines such as theological studies, history, economics, law enforcement, and philosophy. Its scope of interest covers how death impacts individuals, family groups, and societies. Besides the death event itself, thanatologists also examine the needs of terminally ill individuals and their families.
Religious Beliefs and the Death System
When a loved one dies, we rely on a collection of individuals and institutions to help. In 1977, Robert Kastenbaum coined the term “death system” for this interconnected matrix of people and groups. Depending on the society, the death system can include everything from hospitals to clergy. The Encyclopedia of Death and Dying breaks down its various functions:
Predicting and warning about death
Caring for dying individuals
Creating funerary customs and practices
Consolation for living family members
Making sense of death
Determining any morals and ethics of killing
Many of religion’s primary functions exist in relation to the death system. It attempts to explain what happens after we die, then suggests beliefs and practices for attaining the best afterlife outcomes. These ideas usually reflect what each society considers fair, just, and moral.
One great example of how a death system and culture interface comes from ancient Egypt. This society believed in immortality and viewed the world in terms of “ma’at,” a guiding principle that stressed truth, order, harmony, balance, and morality. While one’s good deeds or sins may have differed slightly according to class or profession, everyone was expected to deal honorably, honestly, and kindly with others. The Ancient History Encyclopedia explains that Kemetic people expected their hearts to be weighed against the Feather of Truth. Egypt’s Great Pyramids, elaborate funerary customs, religious hierarchy, and cultural beliefs supported its death system in hopes that the deceased would fare well in the afterlife.
Thanatology in Canada
While thanatology can look at wider cultural institutions and constructs, many study the field today to provide practical help to others. Courses and study programs are offered at King’s University College and Centennial College, with continuing education options becoming more prevalent. Career applications for thanatology often include bereavement counseling, palliative care, social work, and counseling and support for terminally ill people.
For much of human history, religion and culture have often been interconnected. A society’s attitudes toward death, funerary rituals, and religious practices can reflect quite a bit about its values. These may seem like disparate components on their own, but thanatology attempts to bring them together and view them as a systematic whole. When it comes to our faiths and spiritual beliefs, a deeper examination helps us comprehend how they may provide comfort or prepare us for our own mortality.
A family legacy is a great way to have loved ones remember you and all that you have done.
May was National Leave a Legacy month, a public awareness campaign that encourages people to leave a gift to a favorite charity when they die. The idea was to support a cause that was near and dear to your heart with money as a lasting family legacy, kind of a footprint to be remembered by those in your community.
Most people hope that their life matters. Maybe you don’t have the money to leave to a charity. A financial gift can do a lot, but according to Billy Graham, “The greatest legacy one can pass on to one’s children and grandchildren is not money or other material things accumulated in one’s life, but rather a legacy of character and faith.” Although no one likes to consider their death, the best way to leave a legacy is to consider it now. Here are five things to think about when planning your legacy:
What’s most important to you in your life?
Think about what you want to leave as your legacy. If your family were to think of you 10 years after you die, what would you want them to remember?
Where did you find inspiration or transformation in your life’s journey?
Maybe you had a life-changing moment in a college class. Were you touched by cancer? What has made you who you are today?
What blessings have you been given that you want to share with others?
These blessings could be tangible, for example, a set of chinaware given to you by your grandmother, or intangible, such as peace or kindness. If you have tangible items that your family doesn’t appreciate, think about who might use the objects. Check with local museums or charities.
What causes are important to you?
Most people support at least one organization in some way. It could be a church or synagogue. Maybe you have a favorite 5K run you do each year. Your passion is your legacy.
Who do you mentor?
Mentoring isn’t always a formal relationship. You can mentor people in your family, your church or your community just by being available. These relationships can last a lifetime, even after the period of mentorship is over. These people are your legacy.
Planning a Family Legacy
Your will is not a legacy, but it can be part of it. A written memorial can help your family know what you want after your death, but your legacy encompasses so much more. Whether you plan to leave a legacy or not, you will have a legacy. You may not ever think about how people will remember you, but they will remember who you were and what your passions were. You can’t really tell people how to think of you after you die, but you can leave ideas on how you want to be remembered.
Think about the people in your life who have passed on. Maybe you remember your grandpa smoking a pipe and telling stories. For some, it might be the smell of fresh apple pie coming from Aunt Mabel’s kitchen. Those are the legacies of your loved ones. It’s likely that Aunt Mabel never told you to remember her apple pie, but you did. Your children and grandchildren are likely to be the same way.
Those activities and character traits you pursue will be your legacy. What you’ve been dedicated to throughout your life is what you will be honored for. If you don’t like the legacy you are leaving, then it’s time to change your life. Maybe you will want to give money to a charity or leave a note to your family about something special to you. More importantly, think about relationships, faith and character. Are you living the way you want to be remembered?
