Why have you not prepared or updated your Will?

Many people do not prepare a Last Will and Testament for several reasons:

1. Procrastination. People often delay creating a Will, thinking they have plenty of time or that it’s not an immediate concern.
2. Fear of death. Discussing one’s mortality can be uncomfortable and even frightening, leading to avoidance.
3. Complexity. Some believe making a Will is a complex and costly process, which can be a barrier to getting started.
4. Lack of awareness. Many people are not fully aware of the importance of a Will and how it can benefit their loved ones.
5. Belief in informal arrangements. Some rely on verbal agreements, assuming their wishes will be honoured without a legal document.

Creating a Will with the help of a trusted legal professional can make things better in several ways:

1. Asset distribution. A Will lets you specify how your assets and property should be distributed, increasing the chances your wishes are followed.
2. Guardianship. You can name a guardian for your minor children, ensuring their well-being if you’re not there to care for them.
3. Avoiding intestacy laws. Without a Will, the province’s intestacy rules decide how your assets are distributed, which may not match your wishes.
4. Minimizing family conflict. A clear Will reduces disputes among family members by setting out your intentions.
5. Tax efficiency. A well-structured Will can potentially reduce estate taxes, preserving more for your beneficiaries.
6. Peace of mind. Knowing you’ve taken steps to secure your family’s future.

While there are many reasons people delay making a Will, having one gives security, clarity and peace of mind to you and your loved ones. Contact Deterville Law Office to learn how we can help you get your Will and Powers of Attorney drafted.