Most Canadians are uninterested in making a Will. Literally. Statistics show that over 50% of Canadians do not have a Last Will and Testament and many more do not have an up-to-date Will. Such number are astonishing, considering how easy and affordable it is to make a Will these days.
Why is that the case?
People generally pushed off doing their Wills for years. People naturally avoid death and dealing with its implications. You need the requisite will to make a Will, excuse the pun.
Making a Will is part of maturing. It comes along with property ownership and life insurance considerations. It is one of those things that nags at your consciousness until dealt with or until it is too late.
Clients, after completing their estate planning journey, say they feel so relieved and comforted knowing that they have a good estate plan in place.
Peace of mind.
One of the most important documents a person makes in their lifetime is a must have for all.
There are lawyers who draft Wills for several hundred dollars; never mind the cheap do-it-yourself online Wills, which are never recommended – because you pay for what you get. There is no replacement for the personal attention of a lawyer to ensure your Will reflects properly your personal circumstance and takes advantage of current estate planning strategies to minimize estate fees and taxes.
A Will allows you to decide who will receive your property when you die, decide who will manage the business of your estate, decide who will hold property for minors until they reach the age of majority and who will be the guardian of your minor children. Practically, a Will also works to lessen legal expenses, taxes and minimize family fights down the road.
People should want to have a say in what happens with their affairs when they die. Why then do so many Canadians lack the will to make a Will?
Fear prevents people from commencing the estate planning process. People may begin the process apprehensively, but quickly find the process therapeutic and helpful, as it is comfortable to live knowing that affairs are in order and plan is in place.
Only after going through the estate planning process can one really see how beneficial having such documents in place actually is. People then wonder, what took them so long to get this done.
It’s easy. Affordable. And the benefits are countless.
Contact us now to guide you on your estate planning journey.
The general information on this page is not applicable to any specific case and is intended for information purposes only. It is not a substitute for legal advice and may not be relied on as such. Readers are expressly advised to consult with a qualified lawyer for advice regarding their specific circumstances and entitlements under Ontario law.
The general information on this page is not applicable to any specific case and is intended for information purposes only. It is not a substitute for legal advice and may not be relied on as such. Readers are expressly advised to consult with a qualified lawyer for advice regarding their specific circumstances and entitlements under Ontario law.
