Why You Need a Will [Even if You Think You Don’t]

Daniel Goldgut

Have you ever thought about what will happen to your assets and belongings after you pass away? I know, it's not the most exciting thing to consider, but trust me, it's important. Many people assume that if they don't have a lot of assets or money, they don't need to worry about creating a will. However, regardless of your financial situation, having a will in Canada is crucial.

Here's why you should create a will, even if you think you don't need one:

Protecting your loved ones

Creating a will is not just about dividing up your assets. It's also about ensuring that your loved ones are taken care of after you're gone. Your will can designate a guardian for any minor children you have. If you don't have a will, the court will appoint a guardian for your children, and they may not make the same choices that you would.

The same applies to appointing a guardian for any pets.

Ensuring your assets go where you want them to

Without a will, your assets will be distributed according to the laws of your province. This may not align with your wishes, and it can cause conflict among your loved ones. Creating a will allows you to specify who will receive your assets, and how they will be divided. You can also name an executor who will ensure that your wishes are carried out.

Avoiding probate delays

Probate is the process by which the court validates your will and gives your executor the authority to start the process of distributing your assets. If you don't have a will, the probate process can be much more complicated and time-consuming. By creating a will, you can help ensure that the probate process goes smoothly and that your loved ones receive their inheritance as quickly as possible.

Peace of mind

Creating a will can give you peace of mind knowing that your loved ones will be taken care of after you're gone. It can also prevent conflicts among your family members, which can be especially important if you have a blended family or complex family relationships.

Making a will is seriously important, no matter how much (or how little) money you've got. It's not just about divvying up your stuff – it's about making sure your loved ones are protected, minimizing taxes and delays, and giving yourself some peace of mind. If you haven't made a will yet, do yourself a favor and start thinking about it now. And with companies like Epilogue, you can complete the process online in as little as 20 minutes, all from the comfort of your own home.

At Epilogue, we know that making a Will can be overwhelming - whether you're just beginning or trying to finish it off. That's why we started Epilogue. We wanted to provide a better way to make a Will, so more people could do it.