Does one of these categories describe you? Then you should call a lawyer and get a proper will done.

People who are Aging

This is the obvious one. Mortality is on your mind and you can probably tell what the shape of your estate will be when you pass away. It’s time to do a will, and if you already have one but it’s not current, it’s probably time to update it.

People who are Younger

If you have minor children, a will lets you do important things like name a temporary guardian for them and select the trustee who will take care of the money and assets you want to leave to your children until they are of age.

If you don’t have children and aren’t married, a will lets you pick who is in charge of administering your estate and who gets your assets when you do. With no kids and no spouse, the default laws say that your mom and dad would be entitled and that may not be what you want; you might prefer your siblings, friends, boyfriend/girlfriend, or a charity to be selected.

People who are Middle-Aged

If your children are adults now, and they can be trusted with important stuff, it may be time to draw up a new will and name them as the executor/trustee of your estate instead of your aging parents. If you are in the middle of your working years you hopefully are building up some significant assets and retirement savings so you should get some proper advice on how to plan ahead.

Separating or Divorcing People

Major life changes like getting a separation or divorce often mean a new will is in order. If you already have a will and are separated or divorced your will may be interpreted as if your ex has predeceased you, but you shouldn’t leave anything up to chance. Also, a will that pre-dates your divorce or separation might not do what you want if interpreted that way.

Common Law Spouses

If you die without a will your common law spouse has NO automatic legal right to your assets – your closest living blood relatives have those rights. You need a will if you want to leave assets to a common law spouse or appoint them as your executor/trustee.

People in a Second Marriage

Second marriages (or any kind of committed relationship after a divorce) often require some thoughtful estate planning. You two might have your own sets of children and you may want to leave some money to your spouse but some to your kids. You may want to define what happens with the home you own and you both live in if you die first – can your spouse live their cost free until they die? You may want to leave everything to each other when the first of you dies but draw up a contract that sets terms that try to protect the people you want to ultimately benefit when you are both deceased.

Business Owners

If you own a corporation that is worth a decent amount of money you should probably have a Secondary Will. A Secondary Will lets you deal with certain assets that don’t require a Certificate of Appointment (probate). This lets you save on the Estate Administration Tax, which is 1.5% of the value of your estate on your date of death, after the first $50,000. You save on this tax because you only have to submit your Primary Will for probate. If you own all of the shares in a private corporation that is worth $1,000,000.00, a basic Secondary Will lets you save $15,000 in Estate Administration Tax. There are other things you can put into a Secondary Will, such as a private loan you have given to a family member or real estate stuck in the old Registry system or that you bought a long time ago in that old Registry system.

People Estranged from their Family

If you die without a will, your spouse, kids, parents, and blood relatives are entitled to your assets. If you don’t have much of a family or simply don’t like the family members you are closely related to, then you should make a will. It’s the only way to leave things to your friends, your preferred charities, or to your more distant family members who you actually like.

People whose Family Members have Disabilities

If you have a child or loved one with a disability a proper will lets you protect them. If they receive asset-tested government assistance like ODSP, you can define a special trust in your will so that their government assistance is not cancelled or reduced (this is called a Henson Trust.) Also, the Executor/Trustee you select in your will is going to be the Trustee of this trust for the person with disabilities, allowing you to pick the right person to care for that money and thus your loved one.

People who don’t have an obvious Executor

Maybe you want your kids and loved ones to inherit your estate but you just don’t trust them to get the job done and administer your estate properly. Good news! You can name a bank as your Executor/Trustee. Most major banks have a trust company branch that will do this. Yes, they will take a fee, but you may be surprised to hear that the fees they tend to charge are not in fact more than what a person may be able to charge for acting as your Trustee.

People who just don’t know what to do!

There is a misconception that when you pay a lawyer for a will, you are just paying them to fill out a template document and witness your signature. That’s not a fair representation.

What you are actually paying for is the process and the advice. The lawyer will discuss your personal situation, provide advice and suggestions, answer all of your questions, and talk through all of the major decisions with you.

If you just have no idea what to do then you will probably benefit a lot by meeting with a lawyer to prepare a will.



Call Nicholas Hill at 705 486 6186 or email his clerk Brittany Saunders at britt@nhpc.ca to schedule an appointment to discuss your estate planning.