It's 'Make A Will' month: Here's how to craft one online for under $100
It’s said that the only two certain things in life are death and taxes, yet more than half of all Ontarians have not created a will.
Currently 57 per cent of Ontarians don’t have a will and that number jumps to 89 per cent for those under the age of 35.
November is 'Make A Will' Month, and Canadians can now opt to craft a will online for under $100 with a new option recently approved by the Law Society of Ontario.
Willful is an online platform that can help you create a will with plans costing between $99 to $329.
Legal experts say having an estate plan is one of the greatest gifts you can leave behind, as it can help your family deal with your assets, prevent stress and make sure your wishes are carried out.
"You should have a will so your loved ones know what you want when you pass away and there is a clear plan for your assets and who should take care of your dependents,” Erin Bury, CEO of Willful, told CTV News Toronto.
Bury said an online will is an easy way to complete the process and can be updated over time.
"People don't want to go into a lawyers office and spend thousands of dollars on what's really writing a simple document," she said.
David Edey of Montreal is a Certified Executor Advisor and the author of “Executor Help – How to Settle an Estate, Pick an Executor and Avoid Family Fights,” a book he wrote after having issues as an executor.
Edey said he wrote the book after it took seven years, ten court appearances, and $50,000 in legal fees to settle his parent’s estate.
“When being asked to be an executor about 99 per cent of people have no idea what to do,” Edey told CTV News Toronto, adding “the biggest problem is that family’s also don’t prepare the executor for the job they are to be responsible for.”
"Getting organized and having a will is the greatest gift of love you could leave your family. The important thing is that you don’t want to leave them a mess, you want to make it as easy as possible,” he said.
Edey said more communication before a loved one passes can prevent many problems.
Bury agrees you should tell the executor they have been chosen and share information with them.
"We always tell people you should tell them you appointed them as the executor because they don't have to take on that role," she said.
You should create or update a will after major life changes like a marriage, separation or divorce, the birth of a child, the death of a beneficiary or executor or a change in assets.
You may wish to seek the services of a lawyer if you have a complicated estate, substantial assets, international property or feel the will could be challenged.
It can be an honour to be named an executor, but it's a job that also involves a lot of time and effort as it can take hundreds of hours of work and a year or longer to settle an estate.
CTVNews.ca Top Stories
Western University researchers unlock potential 'cure' for ALS
New research out of London, Ont.'s Western University is shedding light on a potential cure for ALS, in which the targeting of the interaction between two proteins can halt or fully reverse the disease's progression.
Police release 3D images of young child found in an Ontario river two years ago
Police have released a three-dimensional image of a young child whose remains were discovered in the Grand River in Dunnville, Ont. almost two years ago.
B.C. brings in law on name changes on day that child killer's new identity revealed
The BC NDP have tabled legislation aimed at stopping people who have committed certain heinous acts from changing their names.
Kamala Harris drops F-bomb during White House live-stream
U.S. Vice-President Kamala Harris used a profanity on Monday while offering advice to young Asian Americans, Native Hawaiians and Pacific Islanders about how to break through barriers.
B.C. man fighting for refund after finding someone living at Whistler vacation rental
Edwin Mostered spent thousands of dollars booking a vacation home in Whistler, B.C., for a group skiing trip earlier this year – or so he thought.
Avs forward Valeri Nichushkin suspended at least six months
Colorado Avalanche forward Valeri Nichushkin was suspended for at least six months without pay and placed in Stage 3 of the league's player assistance program.
Collapsed Baltimore bridge span comes down with a boom after crews set off chain of explosives
Crews conducted a controlled demolition Monday to break down the largest remaining span of the collapsed Francis Scott Key Bridge in Baltimore.
Security video caught admitted serial killer disposing of bodies in Winnipeg garbage bins
Security video caught admitted serial killer Jeremy Skibicki on multiple late-night outings, disposing of body parts in nearby garbage bins and dumpsters in the middle of the night.
Mortgage companies could intensify the next recession, U.S. officials warn
U.S. officials worry the next recession could be intensified by a cascading series of failures in the mortgage industry caused by crashing home prices, frozen financial markets and soaring delinquencies.