Preparing a Will isn’t something that most Canadians look forward to. Let’s face it, it’s not something that most people want to be bothered with. Who wants to think about morbid stuff like “what happens when I die” or what will happen if I’m in a coma and can’t make any decisions”.
There are many reasons why you should have an up to date Will (you know it), but there are probably just as many reasons that one can find to procrastinate in getting your WIll prepared.
When you consider how little it costs, and the benefits that come with it, there should really be no reason not to have a Will these days. Let me start by saying that you can get a Will Kit that is “do it yourself” for very little, and in fact, I will show you how to get one FREE later on in this post.
But first , let’s go over a few reasons why you need to have a Will.
A Will can save you a lot of money on Taxes, and communicates exactly on how you want your Wealth and possessions distributed after you pass.
If you do not have a Will or it is determined not to be valid, then the Government will appoint a person to administer and distribute your assets and that’s never good for you and your family. The Province certainly does not know how you wanted to distribute assets, and usually does not work with your best interest in mind.
This can be even further complicated if there is minor children, since the Province could be deciding on the guardianship. You also sometimes don’t want the kids to get all your assets until they reach a certain age as they may be too young.
I will be writing another post on how to prepare a Will, so please come back to check that out as well.
In the meantime, if you post a comment to this post, I will email you a FREE Legal Canadian Will & Estate Planning Kit with instructions and everything.
Great post, Ned.
Thanks for the info.
Thanks for the reminder. I agree it\’s very important to have a will.
Great information. Thanks so much! It’s something most people don’t want to think about (including myself!) but I will definitely start putting together a Will now so everything is in place for my family. Thanks.
Great information. No will, no gain. Thank you.
Thanks for the email!
Thanks for the email, please send me my kit.
Thanks for the helpfull/important information.
yes thank you at 60 i need piece of mind
yes piece of mind for me will be for my family
Good info! Thanks Ned
This is very important information. My mother recently passed away without a will, & the legal issues are very complicated. She did know the importance & was going to get one but passed a couple days before she was to do so. It makes things a lot easier for the family if there is a will in place.
thank you for the reminder. I do have a will but it is 30 yrs old and things have changed. It needs to be updated to today’s circumstances. Thank you for the free offer of a will and power of attorney kit.
Thanks for the info, I do have a will however still need a power of attorney
Thanks for the reminder. We think about it but usually leave it for another day. None of us think we will need it immediately. Thanks for the free offer
Thanks Ned, Will is very important and thanks for free will offer.
Thanks for the info. I always say I’m going to do it, but still have not.
Thanks for the info. A relative recently passed away without a will, & the legal issues were complicated, to say the least. It would hve make things a lot easier for the family if there had been a will in place.
The importance of having a will and keeping it up to date cannot be understated when it comes to being prepared and for resolving estate issues. Being able to do so without the legal expense is very helpful!
Thanks
Ned