No Good Reason To Be Without a Will

This year more than 31,000 Canadians will die without a will leaving their families to face the uncertainty and financial burden associated with not having a legal will. It's startling to realize the future of the family home, your pension, the money you put into life insurance and RRSPs-even the funds you set aside to educate your kids-all go under government control when you die without a legal will. If you die without a will, the people you leave behind could face a financial crisis.

"Every adult is aware they should have a will, so it's surprising that most of us don't, says Tom Forbes of Intuit Canada. In researching its customers the financial software company discovered that more than half of Canadian adults don't have a current will. "It's always high on our list of things to do," he says, "but it's low on the list of things to do today."

"Ironically we put money into pensions, savings, property and our children's education to plan for the future but we neglect to plan for the day right after our future," says Forbes.

Forbes notes that what often prompts Canadians to finally make a legal will is a major milestone in life like having children; going traveling; buying a house; the death of a family member; or, getting married.

The average cost to have a lawyer draw up a simple will in Canada is about $200, but can run as high as $10,000 for a complex will. There are other ways to draw up a will. Intuit Canada, the makers of QuickTax, Canada's best selling tax preparation software, started making WillExpert when they realized just how many Canadians didn't have a legal will. The software uses an easy-to-follow interview process to produce a legal will and costs just $49.95. WillExpert also includes a personal care directive, enduring power of attorney and other legal documents for two people. Find out more or view an online demo at willexpert.ca.

- News Canada