*TEST* The Importance of a Last Will and Testament in Canada: A Complete Guide
- A last will and testament lets you document your wishes about estate distribution, guardianship of children and pets, and funeral and burial services
- If you die without a will (called “intestate”), a government formula dictates what happens to your children and estate
- For all wills except holographic wills, you must physically sign your will in the presence of two witnesses. In British Columbia, witnessing can be completed virtually.
- Willful offers a more personalized alternative to a will template, so you can tailor your will to your unique situation
Wills and estate planning may seem overwhelming, but it’s actually a lot simpler than most people think. The confusion and misunderstanding around wills has resulted in a lot of Canadians avoiding or putting-off this extremely important life task. In fact, a study commissioned by Willful in 2020 found that over 64% of Canadians don’t have an up-to-date will.
In this article, we hope to demystify the topic of wills and provide you with everything you need to know about making a last will and testament in Canada.
What Is A Last Will And Testament?
Your last will and testament (often simply referred to as your will) is a legal document that outlines your wishes for your estate and dependants after you pass away. Your estate includes all your assets— anything you possess of financial or other value.
The wishes you can document in your will include:who should manage and distribute your estate (your executor), how your estate should be distributed to people or organizations (your beneficiaries), who should look after your minor children or pets (your appointed guardian(s)), and what your funeral or burial wishes are.
Note
Lorem ipsum dolor sit amet.
Special rules in some provinces
Quebec: Wills work differently in Quebec. A will made in front of witnesses must go through probate. A notrial will, made by a notary, generally does not, but in involves professional fees and you may pay again to make updates.
British Columbia: BC allows wills to be signed and stored digitally. This means you may not need to print and sign a paper copy, as long as you follow BC's specific requirements.
TL;DR
Replace with your summary here.
TL;DR
In short: Creating a will ensures your wishes are documented and your loved ones have clear instructions.
It can also simplify the estate administration process and reduce uncertainty for your family.
Pro Tip
Replace with your tip here.
Pro Tip
Before you begin: Gather your important documents so you can complete your will more efficiently.
Taking a few minutes to prepare ahead of time can make the process much faster and help ensure nothing is overlooked.
As new parents, we had been needing to write our wills and this tool allowed us to do just that, effortlessly, from the comfort of our own home.
The easiest way to create your legal will. No lawyer required.
Start your will today →
Make your will with this FREE checklist
Download now →When And Why Do I Need Will?
Creating a will is an important responsibility of any adult, and you can create one once you reach the age of majority in your province or territory. Life is unpredictable, but having a will can help us prepare for the unexpected and protect our loved ones from future chaos and complications.
Assigning an executor (instead of waiting for the courts to do so) helps provide access to the necessary accounts and property to settle your estate. Even if you do not own much in terms of assets, something as simple as access to clean out your fridge and personal belongings may be delayed if no legal executor has been chosen.
While all adults should have one, here are some key factors that drive people to create their will:
- You recently got married or remarried
- You are currently in a common-law marriage
- You recently went through a common-law separation or divorce
- You have assets such as a home or multiple properties
- You have a child(ren) and/or other dependants like pets
- You own valuable heirlooms such as art or jewelry
- You have assets that as a result of your death may cause tension among surviving family
- You own a business or investments
- You have a cause that really matters to you that you wish to donate to
If any of the above situations apply to you, we highly recommend creating a will as soon as possible so you can have peace of mind that your assets will be distributed among your loved ones, in the way you intended.
Last Will and Testament Sample and Template
A comprehensive last will and testament should be as unique as you are. Every will can and should look a bit different. This is why at Willful, we ask you a series of questions to ensure your document is customized to your life situation. However, to help you understand some of the important pieces, we’ve put together a sample of clauses included in our will documents.
What Happens If I Die Without A Will?
In the event you die without a will, the law says that you have died “intestate,” meaning that you haven’t left any instructions as to how you would like your property to be divided and distributed.
What does dying intestate mean for your assets and dependants?
In these circumstances, your property will be divided according to the laws of the province or territory you live in. Usually, this is a set formula that the courts will decide on and ultimately your wishes or ideal outcome will not be the same as what the courts choose.Negative implications if you choose not to make a will, or do not get the chance before you pass on, may include but are not limited to:
- Your estate may not be divided how you want it to be
- The court will decide who becomes the caregiver of any children
- Financial and emotional difficulties for your spouse and family (especially for those who are in common-law relationships)
- A missed opportunity for any charitable donations
- The time it takes to close your affairs may take months and even years longer than if you had a written will
We’ve all heard stories before about celebrities who die without a will. But the drama and consequences are not exclusive to those with fame and massive fortunes.
Learn more about what happens if you die without a will →
Do I Need A Lawyer or Notary To Prepare A Legal Last Will And Testament?
Canadian law and government regulations do not require you to create your will with a lawyer or notary. A lawyer can assist if you need legal advice, but most people have simple and straightforward estates that do not require legal advice.
There are many ways to legally make your will with or without a lawyer. You can even draft your will on a blank piece of paper if it’s signed and witnessed correctly. That being said, by using platforms like Willful, you can even easily and affordable complete your legal will online!
Here are 10 important tips from estate lawyers about making your will →
What Is A Last Will And Testament Form And Where Can I Get One?
In Canada, there is no standard last will and testament form. How you choose to draft your will is 100% up to you, as long as you meet the criteria for what makes a will legally-valid.
There are many templates available for free or at a cost which can help guide you through creating your will. However, using a pre-set template is not always the best option as it will not account for your unique life situation.
Online platforms, like Willful, offer a customizable alternative to last will and testament forms. By asking you questions about your life situation and location of residence, we help guide you through the process and ensure that you don’t leave out anything important. All documents are lawyer approved and ensure that you don’t include any contradictions or common mistakes and errors.
How Is My Will Used After I Die?
After you pass away, your will acts as a roadmap to help guide your executor as they settle your affairs. The executor of your willis responsible for carrying out the wishes you’ve outlined.
Once your will has gone through the probate process, your executor will distribute your assets as requested, which could include transferring ownership, paying off your debts, filing income tax returns, and distributing any remaining assets according to the terms of the will. Sometimes an executor is referred to as your personal representative.
What Happens If I Die With Debt? →
What Do I Need Before Making A Last Will and Testament?
Before making a will, there are some important considerations to keep in mind. These will vary depending on your personal circumstances, so take the time to think about each one. Consider creating a list of the assets and property that you own, including real estate like your home or cottage, vehicles like cars and boats, bank accounts, and pets.
Once you have a list of all your assets, you will need to decide who should receive them. The people you choose to receive your assets are called beneficiaries. Typically, people choose close family members such as their spouse, children, parents, and siblings, as well as close friends and charitable organizations they support.
If you have minor children or dependents, you will need to consider who will care for them in the event something happens to you. Becoming a guardianis a significant responsibility, and it's important to have frank conversations with your appointed guardians before making a will.
When creating your will, you will need to choose a trusted executor who will be responsible for carrying out your final wishes. It's important to choose someone who you trust completely, who is organized, and who is willing to take on the responsibility of managing your affairs after your death.
What Should I Do After I Create My Will?
It’s not over yet! Once you’re happy with your will and it’s been signed and stored in a safe place, here’s what to consider next:
- Update it after life changes: It’s essential to keep your will up-to-date as life changes. Consider setting a calendar reminder every 6 or 12 months, so your will doesn’t collect dust and always reflects your most current wishes.
- Let your executor know you’ve picked them: It’s a role that requires a lot of responsibility; therefore you should inform the person they’ve been chosen in order to avoid any surprises down the road.
- Tell your executor and or family where your will is located: If your will cannot be found, you could be considered to have died without one. Make sure to let a trusted family member or your executor know where they can access it should something happen to you.
Other Common Questions About Last Will and Testaments in Canada
An original copy of your will should be stored somewhere safe, in a place that is known and accessible to your executor. If you’re keeping your will at home, we recommend storing it in a fireproof box or bag. Keep it away from moisture, direct sunlight or anything else that can impact the paper and ink.
You want your documents to be clearly legible for your executor and any institution that may need to see it.
Another good option is a safety deposit box. Make sure your family or executor will have access to it when you pass away, by double checking with the bank in advance.
A will is not a one-and-done type of document. It’s a living and breathing document and should reflect life’s changes as they happen. Monumental moments like the birth of a child, purchase of a new home, marriage or divorce are all life events that can directly affect and change your wishes.
An outdated will may mean your assets could end up with someone that you’re no longer associated with such as a former spouse or common-law partner. At Willful, we firmly believe that keeping an updated will is paramount and doing a yearly check-in can help prevent outdated wills. That's why Willful users get free unlimited updates on all their documents (including powers of attorney and asset lists).
In Canada, a will written in any province will be valid in other provinces, so long as its provisions do not contradict the laws of the province it is being applied in. There are differences in the laws, but courts will do whatever they can to carry out the clear intent of a will drafted in another jurisdiction.
At Willful, we ensure that each template document we create uses the correct terminology and verbiage outlined by the regulations of each province. We partner with local estate planning lawyers in each province who keep us updated on any changes in the law that could impact our customers and their documents.
In British Columbia, residents can sign, witness, and store their wills completely online.
If you live outside of British Columbia, you’ll need to grab a pen because digitally-signed wills are not currently recognized as valid in any other Canadian province. To maximize the likelihood that your requests are met, you will need a will that is physically printed and signed by you and your witnesses in writing. You may sometimes hear the termwet signature,which just means a signature that needs time to dry or is physically signed in ink.
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.
