Although it's not a topic many of us like to discuss openly, almost half (46 per cent) of all Canadians have written a will to ensure that the family members and friends they are closest to are the people who benefit when the will-holders pass away. Our recent survey conducted by Ipsos Reid Canada, has also found that a majority of the remainder (56 per cent) say they are very or somewhat likely to write their wills in the upcoming year.
Writing a will is one of those tasks people often say they plan to do, but many never seem to find the time, yet, writing your will ensures that whatever you own of value is given to the person you want to receive it. This is one of the best gifts you can give to anyone you care about. And you don't need to own a home, expensive jewellery or a fancy car to have possessions that hold high value for you, and for others.
Canadians who do not yet have wills also risk leaving family members and friends with the burden of trying to sort through what's been left behind, at a very emotional time. Getting your wishes clearly stated in your will saves your family and friends a lot of heartache.
Another important consideration: in Canada, if you die without a will, government legislation determines the distribution of your estate. How and what the government decides to do with your assets may be very different from what you intended, and there is no guarantee that the process will be handled in the most tax efficient way.
Whether you have a written will or are planning to write one, our estate and trust professionals can help you plan or amend your will to ensure that your wishes will be carried out the way you intended.
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