Wills are important because they ensure that a person's assets are
distributed according to their wishes after they pass away.
Without a will, the distribution of assets will be determined by
provincial legislation, which may not align with the person's
wishes.
Additionally, having a will can help minimize lengthy and costly
family disputes.
It's never too early to consider getting a will or estate plan
done.
Here are some life events that may trigger the need for a will or
estate plan:
Marriage - If you're getting married, it's a good idea to get a will
or estate plan done.
This is especially important if you have children from a previous
marriage, as it can help ensure that they are provided for after you
pass away.
Birth of a Child - If you have a child, you'll want to make sure that
they are taken care of if something happens to you.
A will or estate plan can help ensure that your child is provided for
and that their inheritance is managed responsibly.
Divorce - If you're getting divorced, it's a good idea to get your
will or estate plan revised or redone.
Purchase of Property - If you own property, such as a house or
investment property, it's important to have a will or estate plan in
place to ensure that it's distributed according to your wishes.
Retirement - When you retire, you may have more time to focus on your
estate planning.
This is a good time to review your will and estate plan and make any
necessary updates.
Changes in Health - If you experience changes in your health, it's
important to review your will and estate plan to ensure that your
wishes are still relevant.
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