Wills and estates

Writing a Will in Canada | Secure Your Legacy 2024

writing a will in Canada

In Canada, you can draft a will yourself or with the assistance of a lawyer, or you can use a will kit or an online will service. The possibilities are boundless, and they can be overwhelming.

Writing a will is challenging and can elicit negative feelings such as fear of the unknown. As a result, estate planning frequently falls to the bottom of the priority list. Fortunately, writing your will is a relatively simple process. In this post, we’ll discuss the significance of creating a will and how easy it may be with step-by-step instructions on writing a will in Canada.

What Is A Will?

A last will is a legal document identifying and defining who will inherit your possessions after you die (called beneficiaries). If you have minor children, you will name a guardian(s) for them if both parents die at the same time. It must also name an executor who will settle your estate by the terms of your will.

How To Write A Will In Canada

The steps you must take will depend on how you choose to make your will and the province in which you live. However, these are the fundamental phases you should anticipate during the will-writing process.

  1. Determine the type of will you want to make.
    Wills and the different ways to make them are not all the same. In Canada, the most common ways to make a will are with a will kit, by hand, online, or by having a lawyer write your will.
  2. Select your executor
    An executor is a trusted person you select to carry out the instructions in your will. It’s critical to name an executor because if you don’t, the courts will appoint someone to act as your estate administrator, who may or may not be someone you want to take on this vital role after you’ve died.
  3. Determine your beneficiaries and any specific donations you wish to make.
    Your beneficiaries are those you name in your will to receive your assets after you die. Choosing your beneficiaries and how you want your assets dispersed is vital, just like naming an executor, since if you don’t, the law will.
  4. A guardian undertakes legal, moral, and financial responsibility for your children and pets in the event of your and your spouse’s demise. A comprehensive guardianship plan can aid in reducing unwarranted court involvement and disruption to the lives of your dependents while ensuring that your wishes for them are fulfilled.
  5. Include any funeral or burial wishes.
    You can outline any funeral desires you have, such as conventional burial or cremation so that your loved ones can be at ease when burying you.
  6. Print your will and have it signed and attested.
    You must sign your will in wet ink, and two witnesses must also sign it. The exception is British Columbia, which lets you witness and store your will online.
  7. Keep your will in a safe place.
    Your will and other critical estate documents should be kept in a secure and easily accessible area where they may be collected by a trusted family member or loved one after your death.

How Much Is The Cost Of Will Writing

18% of Canadians who don’t have a will say getting one would be too costly. That is a misunderstanding. The price of writing a will in Canada varies according to the intricacy of your estate. This can range from free (if a template is used) to thousands of dollars. Unless you have a large fortune, you may be able to obtain a valid will for less than $200.

Using a will kit, which can be effective for those on a budget with simple estates, or will services like Aglawfirm, which will guide you through the process while also providing expert support for your more complex questions, are two of the most cost-effective ways to get a well-constructed will.

Consider the following factors while deciding on the best solution for you:

  • How complicated your estate is (for example, if you’re leaving a business, many houses, etc.)
  • How frequently do you anticipate updating and changing your will?
  • Whether you’ll need to spend more money on associated estate planning obligations (such as appointing a power of attorney or registering your will).

Writing A Will In Canada With A Lawyer:

Using Lawyers for Wills is the most expensive and comprehensive way to prepare your will. These attorneys have expertise in handling complex estates and advise in various situations. They focus on estate law. Not only that, but they usually have a great deal of experience with estate taxes, so they can help you minimize them for your estate.

When You Should Have A Lawyer Draft A Will:

  • If you have a disabled child, are separated but not divorced, want to disinherit someone, run a business and need a dual will, or enjoy a lot of special clauses or detailed instructions, like gifts with conditions that must be met before the beneficiary can receive the present, you may need to get a lawyer.
  • You have the funds to pay a lawyer – even simple estate plans can cost $800 or more with an estate lawyer.
  • You require legal counsel because you have estate planning questions only a lawyer can answer.
  • You want to know how to reduce the taxes that your estate will have to pay.
  • You want a lawyer to draft the will so that they can handle the probate process (passing the will through the court system after you die).

Choose A Will That Suits Your Budget And Needs

A will is the only way to fulfill your wishes when you die. You have the option of creating a cheap will, which will save your family from unnecessary stress and expense when you die away.

Don’t wait! Your family’s future awaits. Act now!

Common Questions When Writing A Will In Canada

What Are The Common Errors in Writing a Will in Canada

  • Failure to properly sign and witness the will. Your will is not legally binding until you have signed and caught it. Having the testator and two witnesses mark your will would be best.
  • You are making a will for someone else. You cannot make a will on behalf of another individual. A will is only valid if the testator is of sound mind and has written it themself.
  • You have yet to find your will. Things might be hard after you die if no one knows where your will is. Ensure your executor knows where your will is kept since the only valid copy is the original.
  • You are making a video will. Contrary to popular belief, you cannot video yourself voicing your wants. A legal will must be written down.

Who can write a will in Canada?

Anyone above the age of majority and mentally capable in Canada can make a will.

Some provinces have rules allowing younger individuals to draft wills, but you should see a lawyer to see if they apply.

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