Over the years, we’ve heard all the excuses for not writing a Will

Let us clear up some misconceptions about writing a Will

I am young. I will write a Will when I am old. 

False, age is not a factor.  You should write your Will when you have assets in your name, such as a bank account or a home.

You should also write a Will if you have children.

Writing a Notary Will is expensive. 

Actually, writing a Notary Will is the least expensive option for after-death planning.

If you choose not to write a Will, your estate will have to pay for heredity declarations and liquidator nomination documents after death.

If you choose to write a handwritten Will, a Will before witnesses or a lawyer Will, your estate will have to apply for court verification of the Will. All in all these processes can cost thousands of dollars. A Will usually goes for a couple hundred.

I might buy a new house. 

A properly drafted Will taken into account both your current and future assets. The language used in the Will is universal and general. In other words, if you buy a new house or open a new account, you don’t need to change your Will.

I might have another child. 

A Will can take into account any future children. If you have children, you must write a Will. Estates with minor children are complicated and require additional legal protection, tutorship and custody processes for minors. They are expensive and take a lot of time.

In a Will, you are able to determine who will take care of your children if you die and who will manage the money for them until they are older.

I have no assets. 

A bank account is an asset. Everybody has assets.

If I write a Will, I feel like I am going to die faster. 

Writing a Will is not a leading cause of death ! Writing a Will is not about dying, it’s about planning for the future. If you have spouse, children, parents, siblings, the will allows you to protect your assets in their favour.

If you do not have any family, then the Will allows us to determine how you wish to distribute your assets when you pass.

In a Will, you can also write gifts and make charity donations.

We expect that you will write numerous Wills during your lifetime. In fact, we recommend that a Will be revised every 5-10 years so that it reflects your actual life circumstances. And life is always evolving !

If I don’t write a Will, my spouse will inherit everything. 

This is totally false.

If you have a spouse and children, the Estate will be split 2/3 for your children (even if they are minor) and 1/3 to your spouse. Your spouses will find himself co-owner of the house and bank accounts with the kids. To make things worse, the kids cannot be represented by the surviving parent because of a clear conflict of interest. A third party has to be appointed to manage the children’s assets if they are minor.

If you have no children, your estate will be split 2/3 to your spouse and 1/3 to your parents and siblings. Your spouse will become co-owner of your assets with the rest of the family. All those inheriting are expected to work together and make unanimous decisions.

So, it really isn’t that simple. A Will can solve all these issues.