How to Make a Will in Canada: The Complete Guide

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How to Make a Will in Canada: The Complete Guide

Your written will should be updated regularly to reflect major life events such as getting married, having children, or going through a divorce. Failure to update your will can lead to confusion and disputes among your loved ones. The biggest mistake you can make is not having a will at all.

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Is it complicated to write a Will?

This section will outline the power given to your executors and trustees when managing your financial affairs. These powers can include the ability to sell real estate and assets, to pay taxes, to distribute assets to beneficiaries, to invest money, and to settle any claims against the estate.

This content has been reviewed by Canadian estate planning experts or legal professionals. Our editorial team is committed to ensuring the accuracy and currency of content related to estate planning, online wills, probate, powers of attorney, guardianship, and other related topics. Our goal is to provide reliable, up-to-date information to assist you in understanding these complex topics. A will—or last will and testament—is a signed, legally binding document that describes exactly how you want your assets (like property, bank accounts and other things you own) to be handled after you die.

Find witnesses and sign your will

These are just some of the steps to take before writing a will. Remember that tomorrow isn’t always guaranteed, so once you’ve decided how to make your will – be certain you actually get it done! Get started for free with Willful and create your will in as little as 20 minutes. With an online will platform like Willful, you can make a legal will for as little as $99. Take our quiz and find out which Willful plan is right for you. Now that you know the basic criteria for how to make your will legal and when you need a will, it’s a good idea to familiarize yourself with the different ways to make your will.

That being said, keep in mind that there are several online will services out there, and not all are created equal. It’s best to do your due diligence by checking the fine print, comparing reviews, and going with the company you trust most. If you have any kids under 18, choose someone to care for them. This is often one of the toughest parts of creating a will because it’s a difficult scenario to imagine. However, it’s important that you make the decision so you know who your children will be living with. If you pass away without a will, the courts may get involved and make these important decisions for you.

If you have minor children you may have to set up a trust for handling their share of the estate. You choose from a list of solicitors who will write your will online, through the post, over the phone, face-to-face at home or in branch. All this decision-making by the courts takes time and money, which erodes the value of the estate – and keeps assets out of your loved ones’ hands for longer than necessary.

An executor, also called an estate representative, estate trustee or liquidator, “executes” the instructions you’ve outlined in your will to wrap up your estate. It’s mostly an administrative role, which includes dealing with banks, insurance companies, government and tax agencies, as well as corresponding with the deceased’s beneficiaries and family members.

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