Did you know that November is ‘Make a Will’ month in Ontario? This is an initiative to encourage Ontarians to take the necessary steps in making sure they have a valid, up-to-date Will.
Recent surveys consistently reveal a staggering fact: just over half of all Canadian adults do not have a Will. Unfortunately, these studies generally don’t delve into the reasons why so many Canadians put their estate planning on the back burner.
Why do so many Canadians not have Wills?
The common misconceptions about having a Will may be a factor. These misconceptions include that having a Will is something that is needed later in life or only needed if you have significant assets. Nothing could be farther from the truth. In fact, every capable adult over the age of 18, regardless of what they own, should have a valid, up-to-date Will.
The cost of having a Will prepared may be another reason why so many do not have Wills. However, not having a Will is problematic for a whole host of reasons. We will explore these in more detail via an upcoming blog. Suffice it to say, not having a Will often ends up costing more than it would to have had a Will prepared in the first place. This can be said not only for money, but for time and heartache as well.
Blogs in honour of Make a Will Month
In honour of ‘Make a Will’ month, we’ve decided to do a series of blogs all about Wills. From what happens if you don’t have one to what to do once you do have one and all of the important stuff in between. Stay tuned!
Reproduction of this blog is permitted if the author is credited. If you have questions or if you would like more information, please call us at 613 836-9915. This blog is not intended to be legal advice but contains general information. Please consult a lawyer or other professional to determine how the information in this blog might apply to you.