Statistics reveal that a large majority of Canadian adults do not have a Last Will & Testament that is up to date despite knowing that a will is commonplace. Seeing as we often hear the same list of excuses from people for not having wills, this blog post will identify the top ten explanations we hear, and why these should not be reasons to not have a will.

1. I am too young to have a Will

Intrinsically, there are issues that arise when thinking about writing a will either in old age, or on your deathbed. The most apparent of these – there is no certainty as to what may happen at any point in time. Wills that are articulate are often able to cover the future to a certain degree and even then can be updated as conditions change. Hence, it is clear that no benefit occurs when postponing writing a Will in old age, but there are substantial problems that may emerge should there not be a Last Will & Testament once you have passed.

2. My Last Will & Testament already exists from decades ago

More often than not, a Will does not stand the test of several decades without requiring any updates. In the span of a few decades, it is possible that you have more children, or if that was already the case, they may have become adults or even have their own children. It is also common to see that the executor assigned to the Will is too old to now carry out their duty. There may be some charities that have arisen in your mind that you would like to help upon your death. There is more than one motivation apart from additional assets that induce an update to the Will.

3. I have purchased and utilised a Will kit

With the pandemic, people have rushed to find cheap alternatives to draft a Will such as Will kits. The biggest issue with these kits is that they often miss many crucial factors and scenarios. These kits may make you feel as if everything is covered, however, they are truly no better than having drafted a Will from scratch which can leave you at risk. At Cypher Law, our lawyers have extensive experience drafting wills and will make sure to cover all issues from trusts for minors or pets to residuary clauses.

4. A Will is too expensive

Wills can be costly and many lawyers may quote up to $1000 for not only drafting, but the same amount for subsequent updates to the WIll. Initially this may have been cause for concern, however, at Cypher Law, our prices are far more affordable and the quality is just as, if not more, reliable than other firms given the experience of our lawyers in this area.

5. Everyone involved knows how I want everything distributed

Although you may have made it clear as day as to how your assets must be distributed, this is often the most ordinary reason for family disputes when it actually comes time for distribution. Expectations and verbal promises of this sort hold no strength in the law and everyone feels entitlement to assets creating disputes among them. The easiest way to avoid these issues is to create a Last Will & Testament which clearly states everything. This will not only enforce your wishes, but will also save the headache of those quarrelling over assets.

6. Once I am dead, it does not concern me

As mentioned in the point above, the predicament faced by your family and others involved would be monumental without a Will in place to settle the dust. Because you have not left how you would like your estate to be split, the government would have to step in and decide the distribution for you. Although this may sound simple enough, the disputes that arise amongst family members may ruin ties. Neither will you have the opportunity to do anything charitable anymore, but you will also leave the process to be lengthy and tedious.

In addition, it is possible your loved ones are not aware of the whereabouts of all of your assets and may be unable to retrieve items that you have left behind.

7. My estate is currently worthless

Wills are not written to be realised the day they are prepared, and often there is no means of measuring the size of your estate upon your death. An eloquent Will would consider the expansion of your estate over time regardless of when it comes into effect. Circling back to being unable to predict the size of your estate, if you were to die due to someone else’s negligence, your estate may be worth substantially more than you were able to estimate.

8. I do not have any physical assets

With the exponential rise of technology, digital assets are soaring in popularity from the likes of financial assets (Crypto Currencies) to art (NFTs). By including these assets in your Will, the allottee of these will have legal right to claim them after your death. It is often difficult to even know about digital assets, let alone obtain them, after a death and by not creating a Will that includes them you are leaving them to the benefit of no one.

9. I do not have the time to make a will

This excuse seems to be the most common among the list. People are often reluctant to partake in activities in which they must think about their death, and when this is combined with a busy schedule, it seems nearly impossible to create the required amount of time for a Will.

With the Coronavirus pandemic, it has been more apparent than ever that the unexpected can occur. Although slightly time consuming, this is reason enough to prepare a Will and protect the ones you love today.

10. Wills are very daunting and do not understand how to write one

Understandably, you may think writing a Will is an intimidating task and may not know where to begin, however, we at Cypher Law are here to help you with this problem. Our experts will guide you through the entire process step by step and explain all the terms being used within the document. We will also be more than happy to update your Will whenever you feel it may be necessary to do so. Should you have any preliminary questions or concerns, feel free to get in touch with us.