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Wills, like death itself, are not a popular subject - even less so when your own will and death are the subject of contemplation. Most of us would rather not think about it - at least not for now. But in almost every family, enough of us have seen "good reasons" for a clear will. Wanting to avoid disputes between relatives and wasted taxes, we are grudgingly preparing for the task, later in life, when we feel ready to think about it.

The idea in our initial attempt, usually timed to coincide with the birth of a first child, is generally to "keep it short and simple". This first attempt often results in our "last will", in fact and in law.

At times like these - especially when untangling the messes that often result - estate professionals wish someone had asked this question: "Given one piece of paper and 500 words, what must a responsible family person write to keep peace in the family?".

First, name the executors now called "liquidators" in Quebec and trustees. If the estate includes minors, executors and trustees are essential to deal with the property (unless one can wait until the last heir reaches 18). Even if there is a spouse surviving, it is generally unfair to both the spouse and the other heirs if the spouse has to act alone through the inevitably delicate balance between short-term and long-term investment strategies. As well, words are required to exempt the executors from the more expensive formalities of Quebec law and the one-year limit on their possession.

RRSP's and other pensions should go to the spouse, as tax rollover rules make for huge savings. If other heirs are included, 50 percent of the RRSP is lost on Day 1. Private company shares (over the $400,000 small business exemption, if unused) should go to the spouse or to a trust where the spouse gets all of the income for life. Taxes are again the big factor: this technique has avoided the break-up of many businesses.

Particular legacies (gifts) should be stated clearly and the tax liability that goes with them should be dealt with. If the family heirloom has a $1 million tax bill attached to it, should the legatee or the general heirs pay?

Give away everything. Many first wills deal with assets on a one-by-one basis and forget to say "everything else to my children," for example.

If minor children heirs are possible, provide for a trust. This can be smart from a taxation viewpoint, even in large estates. It gives the children more of a chance to keep their inheritance. One must ensure there are generous encroachment powers for the trustees to allow for education and business, and that your trustees are prepared for the task.

Physical custody of minor children can now also be awarded by a will. This is a good clause for parents to use to prevent the splitting up of children or ugly custody disputes.

Clear rules should govern the family house. Generally, minors should not be involved because of delay problems. Leaving the house to too many people complicates its sale. In principle, the spouse should own the house free of restrictions.

The spouse should be required to choose between the benefits under the will (e.g. RRSP, private company shares and house) rather than those offered by family patrimony, marriage contract or compensatory allowance rules under Quebec law. Otherwise, double payment will often result.

Avoid restrictions on legacies. The type of clauses restricting remarrying or religious options, or passing to the third generation are often harmful, unworkable and merely encourage litigation.

Quebec is unique in permitting an individual to write, in his own handwriting, his will without witnesses (holograph will). A clear drawback to this form of will is the fact that many places outside Quebec will refuse to apply such a will, especially if real estate is involved (e.g. Ontario or Florida).

In Quebec, the choice for a more sophisticated will is usually between a lawyer and a notary. While it is certainly true that notaries have been involved in Quebec in such matters for more than 350 years and their wills do not require probate, it is also true that lawyers tend to be more tax conscious (which is a basic concern in estates) and that probate in Quebec involves minor costs and delays (one to two months and usually $300-$500 in fees).

Lawyers and notaries will of course both find reasons to use more than 500 words and one sheet of paper (even on both sides). In a complex world, where people hold more diverse and complicated properties and live in more difficult environments, words are unfortunately necessary.

For instance, if your estate owns several car dealerships, could one deal with a bank to finance the others until the estate is settled? As well, we all know our relatives better than others and certain relatives may need the help or protection of a few words to prevent later problems.

Well then, why not later? All of us know the answer to this question: the certainty of death and the complete uncertainty as to its timing. Professionals who know the consequences in economic and human terms are unanimous in urging the living not to wait. Generally, the best will for you is the one you did write and not the one you did not.