You do not need a lawyer to make a legally valid will in Canada, but you may benefit from legal advice if you have a complex estate or wish to include custom clauses in your will. Listing your debt while making an estate plan can give you an idea of how much will be left over when your debts are paid. Unpaid taxes, credit cards, student loans, and mortgages are all debts. If a debt is unpaid at death, the estate is usually responsible for paying it. In some states, if a person dies with more debt than assets, you may not have money left over in the estate for the survivors.
While online wills are designed to suit most Canadians, they aren’t meant for complex estates. For example, if you own a corporation, own foreign property, or have a blended family with kids from different relationships, you’re better off preparing your will through a lawyer.
Once your online application is complete, you’ll receive your Will as a PDF document. To officially finalise your legally binding Will in NSW, simply print it out and have it witnessed. You’ll just need two independent individuals to witness you signing each page of the document in accordance with the witnessing instructions in our Will kit.
Each method has its pros and cons, and there are some important things to know and look out for. Quite clearly, there is never a situation where a Will is unnecessary.
Read more about will template word document here.
Common Questions About Writing A Will In Canada
This can include medical, financial, and/or legal decision-making. If you know where you want your assets to go when you die, an online service may be a great choice. Follow our guide to create your will using an online service.
Four ways to create a will in Canada
Specific gifts, also known as Bequests, are identifiable pieces of property or monetary amounts gifted to individuals upon your passing. Some common gifts include cash, jewelry, art, clothing, family heirlooms or mementos with special meaning.
Get peace of mind knowing that your assets will be distributed according to your wishes. If you die without a Will (known formally as “dying intestate”), the court decides how your estate and assets are to be distributed, and this is usually done according to a strict legal formula. The court appoints a trustee executor who will distribute your assets according to this formula, even though this may not be how you would have chosen to give away or divide your assets. For example, you may wish to give gifts to particular friends, children, grandchildren or relatives. The government trustee does not carry out these wishes if you die intestate. There is no requirement to visit a lawyer or use a specific method of creating your will. From online wills to will kits, or even hand writing your will – there are many ways to make a will yourself in Canada that are 100% legal.
At Willful, we also provide additional tools with your purchase including a free registry on the Canada Will Registry, an asset and liability list, and the ability to notify key people named in the will. Your will should outline the assets, properties, belongings, and money that will be distributed to each of your beneficiaries.
