Most Canadians are uninterested in making a Will. Literally. Statistics show that over 55% of Canadians do not have a Last Will and Testament. While “numbers never lie”, the percentage of Canadians without a Will is astonishing, considering how easy and affordable it is to make a Will.
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 and minimize family fights down the road.
It follows that people should have the desire to dictate what happens with their affairs when they die. Why then do so many Canadians lack the will to make a Will?
A possible answer is that people do not like to think of their own death. This could be why the number of Canadians without a Will is so high. The fear prevents people from even commencing the estate planning process. But I have found, that people may begin our meeting with apprehension and nervousness, but quickly find the process therapeutic. After the process no less, people are given a peace of mind knowing that their affairs are in order.
Thank you for reading.
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.Return to Blog