The Importance of a Will
A 2018 Angus Reid Institute poll found that 51% of Canadians don’t have a will. That is a serious problem.
What is a will?
One of the most important documents you will ever sign is your will.
By having a will, you will effectively be able to distribute your wealth among your children, surviving spouse, and other family members. You can also ensure that your assets are left to a charitable or religious institution.
Through a will, you can even leave instructions on how the assets are to be used by the heirs.
What happens if I don't have a will?
If you pass away without a will, it will be considered “intestate” under Canadian law.
This means that there are no specific instructions. As such, the government gets to use provincial or territorial laws to decide how to distribute your estate and appoint your executor. This process can be long and expensive.
Who should have a will?
Anyone with children, property, or assets should have a will.
Once drafted and signed, your will should be reviewed every three to five years. This will ensure that it continues to reflect your life and wishes.
How do I make my will legally binding?
While you may write your own will, parts may not be carried out if it is hard to understand, or goes against the law.
Our team at Barbarian law is able to assist with the entire estate planning process, including the creation and execution of your will.
Based in the greater Toronto area, we have helped clients across the region including Richmond Hill, Aurora, North York, and more.
Your will does not have to be daunting or stressful, our team is just a call away.
