Writing Your Will may be the Kindest Thing you do for Your Loved Ones
Are you one of the 49% of Canadians that don’t have a Will? Among the top reasons so many of us delay Will writing is the feeling that we’re too young to worry about it, or that we don’t have enough assets to justify making a Will in the first place.
Valid concerns. But there are some real motivations to making a Will you might not be aware of, regardless of where you are in life.
The consequences of not having a Will
Dying without a Will could have serious implications for your family. With no Will in place, your assets could be distributed according to the laws of your province, which may exclude certain family members like common-law spouses or step-children.
A Will is about more than just your possessions
Making a Will can be an opportunity to have an open and insightful conversation with your loved ones about life and legacy.
For example, perhaps your community has always played an important role in your family’s life, and giving back to your community is a value you all hold dear. You might choose to leave a small percentage of your estate, even 1% can made a difference to a charity, a contribution that future generations of family can rally around and continue on in their lifetimes.
So, why is writing a Will one of the kindest things you can do for your loved ones?
In a nutshell, it saves your family from unnecessary stress. There is so much work to do when a loved one passes away, and at such a difficult time. Having your wishes made clear, and instructions laid out in your Will, can make a difficult time so much easier for the people you love.
And it’s important to share your wishes with your family now so there won’t be any surprises when you’re gone.
Writing a Will doesn’t have to be expensive. There are a whole range of options out there when it comes to making your Will. You may choose to use an online Will writing service if you have a relatively straightforward estate. Or choose a lawyer or notary if you’d like the advice of a professional who can give you more personalized advice (i.e. how to take advantage of tax incentives available when making a charitable gift in your Will).
To find local legal or financial advice, please visit willpower.ca/charities/royal university-hospital-foundation/.
If you would like a copy of the Will Power 4 Step Guide to Planning a Charitable Gift in Your Will While Still Supporting Family, please contact Candace Boersma at 306.655.6501 or candace.boersma@ruhf.org.
