If a husband and wife (or a single parent) were to die as a result of a common disaster, and neither had a will, both would have died intestate, necessitating court-appointed executors and guardians (if they left minor children), there would be additional expenses, delays, and division of property by provincial law.

The lack of a proper will can have painful consequences. Impersonal laws distribute your personal possessions. Opportunities to express one's values and convictions through special bequests are lost.

There is good news, preparing a clear and effective will is not difficult. In less time and with less expense than you think, you can have the satisfaction of knowing that you have ensured your wishes and eased the way for those you love.

Your estate consists of everything you own, but not everything you own is transferred through your will. Your will governs property which is: in your name alone, owned by you and others as tenants in common, payable to your estate because of your death, and proceeds from life insurance policies and retirement plans payable to your estate. Other property interests pass to beneficiaries outside of your will, namely: real estate and bank accounts held in joint tenancy, life insurance proceeds paid to the named beneficiaries, pension benefits paid to a spouse or children, shares held subject to a shareholder's agreement, and property held in trust.

Having a will ensures that your property goes to the persons and organizations you choose. If you have no will you forfeit the right. The court will decide for you in accordance with provincial law. You may have preferred to give a child a larger portion because of special need. You may have chosen to leave legacies to some special friends rather than the distant relatives stipulated by the rules of next-of-kin succession. You may have intended to leave a bequest to your church that played an important role in your life, but the laws of intestacy make no allowances for churches or other charities.

In making a will you exercise your fundamental right to choose what to do with your possessions. Remember, though, to revise your will and make necessary changes when you acquire or dispose of major assets. And, of course, select as your executor someone who is trustworthy and competent, and who understands your wishes and your values.

The first step in making your will is to specify what each heir is to receive from your property. The next step is to determine when and in what form each receives it; leaving a lump sum to each heir may not be the best way. For example, if you have a minor child you may want to establish a trust for their care. Likewise, if you have a child with disabilities, the best arrangement may be a trust in which the trustee has discretion to make distributions for special needs and residential care. In addition, to making sure that your wishes are followed for your heirs, a will also ensures that special bequests are honoured. You may have considered leaving a gift to your church or another charity. Without a will they will not receive your gift.

A will also helps avoid any unnecessary taxes. After you have decided whom you want to benefit, you can then devise the most tax-efficient way to realize those objectives. A lawyer who specializes in estate planning is best equipped to help you develop an estate plan and draft your will accordingly. Many people feel that the legacy they leave to children is not only money and property, but also the community in which they live. They feel compelled to leave a bequest to local institutions, such as, medical research, foundations to enhance their cultural heritage, their local church and other areas that address social needs. Fortunately, there are significant tax incentives for making such bequests to charitable institutions and provide a better future for heirs.

A will expresses your current wishes. It may not express them if: Your marital status has changed. New children have been welcomed into the family. You have moved from another province. The size of your estate has increased or decreased. Some of the individuals you named in your will have died. The individual you chose, as executor, is no longer in the area or would be unable to serve. There are ways to make changes without having to incur the expense of drafting an entirely new will. One is to add a codicil to an existing will. This is an amending document, duly dated and witnessed, which may change an existing provision or add an entirely new one. Whatever age you might be, it is important that you have a will. "Where there's a will there's a way."

Remember that when you leave this earth, you can take with you nothing that you have received — only what you have given: a full heart enriched by honest service, love, sacrifice and courage.
St. Francis of Assisi

Marks of a leader

By Jim Gray, Principal of Media Strategy Inc.

This article first appeared in the Globe and Mail on September 4, 2009. Reproduced by permission of the author. His book, "How Leaders Speak" is scheduled to be published in 2010.

Our meeting was coming to an end. "I'm going to get out of here and let you get back to work," I said to the managing partner of a leading international law firm, as we sat in his New York Office. "Let me walk you downstairs," he replied. "Oh no, you don't have to do that," I protested. "I want to," he said. And that was that. As we made our way through his firm's headquarters, everyone we encountered smiled and said hello. (It wasn't because I was in the house.) We took the elevator down to the lobby, where my client — who makes more in a year than the annual gross domestic product of some small countries — walked with me to the doors of the midtown Manhattan building, shook my hand and said: "Thank you for your help."

How long did all that take him? Including the walk and the elevator ride, down and back up, perhaps 10 minutes. But his courtesy continues to make an impression on me. I've worked with many leaders in Canada and the United States who are accomplished in their respective fields. But that's not what impresses me most. It's how they make the people around them feel. It's what they do to create and enhance relationships.

It's been said that the higher you go up in any organization of value, the better the interpersonal skills of those you meet. There are exceptions, but, in my experience, it's proven to be true. Yet too few people in the work world conduct themselves like accomplished leaders. That makes it easy to stand out, make your mark and create a loyal trusted network of friends, colleagues and supporters. And that's important because no one achieves success, and maintains it, without the help of others. Smart leaders know that, which is why they devote so much time and energy to their relationships. They also know that the payoffs, both tangible and emotional, are out of all proportion to the investment involved. Here's what leaders do to engage others. You can do the same:

• LEADERS GIVE BACK
• LEADERS EXPRESS APPRECIATION
• LEADERS STAY CONNECTED
• LEADERS CREATE SUPPORTERS

Submitted by Peter Davison