November is Make a Will Month in Ontario, a time dedicated to raising awareness about the importance of having a legally valid will. Whether you are young or elderly, wealthy or just starting out, creating a Will is important for everyone. Here is why “Make a Will” this November is not just a good idea but a critical step in securing your legacy.
Why You Should Make a Will: Protect Your Family and Assets
A Will is more than just a legal document— it is peace of mind. It ensures your loved ones are taken care of and that your estate is distributed according to your wishes after you pass away. Unfortunately, 52% of Canadians don’t have a Will, often because they don’t know where to start.
Without a Will, your estate could be left in the hands of the courts. In Ontario, intestacy laws (which apply if you die without a will) might not align with your personal wishes, potentially leading to lengthy legal processes, potential disputes, and unexpected distribution of assets.
Key Benefits of Having a Will:
- Protect Your Loved Ones: Decide who inherits your assets, who takes care of your children, and how your estate is managed
- Avoid Family Disputes: Clear instructions can prevent disagreements among family members
- Appoint Guardians for Your Children: A Will lets you choose legal guardians for your minor children
- Appoint Caregivers for Your Pets: Ensure your pets are cared for by someone you trust
- Donate to Charity: Leave a lasting legacy by supporting causes that matter to you
- Streamline the Legal Process: A valid Will speeds up asset distribution and minimizes court involvement
The Dos and Don’ts of Creating a Will
Dos:
- Appoint an Executor: Choose a responsible and trustworthy person to handle your estate
- Address unforeseen Scenarios: Name contingent beneficiaries in case your first choice cannot inherit
- Sign with Witnesses: For a Will to be legally valid, ensure you initial and sign with witnesses at the same time
- Update Regularly: Review your Will when major life changes occur (e.g., marriage, children, financial changes)
Don’ts:
- Procrastinate: Avoid leaving your family without guidance by delaying your Will
- Forget Safe Storage: Store your Will securely and inform your executor where it’s located
- Choose Beneficiaries as Witnesses: Witnesses should not be beneficiaries to avoid complications
How to Get Started on Your Will This November
Making a Will doesn’t have to be a complicated or expensive process. Here are a few ways you can get started:
- Online Platforms: Platforms like Willezy offer a credible and lawyer-vetted process and templates to create a Will within 30 minutes. It’s simple, affordable, and secured
- Consult a Lawyer: For more complex estates, you might want to consult with an estate planning lawyer who can guide you through the process
- DIY Kits: For those with simple estates, DIY will kits are available, though they may not offer the same legal guarantees
- Holograph Will (not recommended): In some provinces, a handwritten Will (Holograph Will) is considered valid as long as it’s entirely written and signed by the testator
If you are in Ontario refer to our Guide for Beginners.
Take the First Step This November
Estate planning is for anyone who wants to ensure their wishes are followed and their family is protected, please don’t wait until it’s too late. This Make a Will Month – leverage the educational resources, promotions, and reflect on the importance of protecting your legacy. Whether it’s through a trusted online platform like Willezy, a lawyer, or a DIY kit, take the first step in creating your Will today.
Get started now and use promo code WILLNOV24 to receive $50 off your Will and Power of Attorney.
