Making a will | General financial discussion | Discussion forum

I went to a lawyer at a local mall. I think he was the same lawyer office I used when I got a first time mortgage on my house. No for the last two questions.

I've done at least half a dozen wills over the years (and accompanying POAs, health directives, etc) due to living in different jurisdictions and countries.

I would always use a lawyer who specializes in Family Law. They will think of circumstances and scenarios to cover that an individual wouldn't necessarily consider. I had no business interests nor complicated assets. I think my costs ranged from about $500 to $1500 depending on jurisdiction at the time. It is money well spent. Not in one's interest to be penny wise and pound foolish on such important matters especially if one's net worth is substantial.

I'd never go it alone with an online will kit. There simply are too many variables in each jurisdiction to consider.

I recommended lawdepot.ca.

Also have to consider number/variety of beneficiaries, e.g. complex estate is no big deal if Will essentially says "everything goes to my only child, Bill" and there's reasonably no-one else in the picture.

Executor decision is always key, though.

According to the CBC article, the wounded sister received the North Kawartha cottage from her father. She then received $430,000 from the sale of her father's house when he died.

Looks like her brother, the shooter, didn't react well to receiving just $30,000 when the father died.

Sibling rivalry about parents' resources is an elemental force, been around forever. And eternal dillemma of parents, i.e. some kids could badly use help, others self-sufficient, treat accordingly or treat the same?

Kidd, like you I did it on my own, siblings accepted lots of help. Feels great.

My life's observations, when it comes to siblings, is unequal equals unfair to someone somewhere.

Equal seems safer, to me. For example, I knew a family where the mother, when she wanted to give one of her adult kids a bit of money, gave same to the two self-made multi-millionaire kids too, never a dilemma for her. She treated her kids the same in all ways (all ended up upstanding and self-sufficient). Kids, now all seniors, still get along to this day.

I think the nature of the responses show nothing should be taken for granted in Wills or beneficiary behaviour. I also know some individuals where court fights start almost as soon as the bodies go cold. Which is why it is very wise to get a lawyer familiar with Family Law to put the Will together with guidance on distribution of assets, contingent beneficiaries, etc.

Sometimes even basic estates can go off the rails. Online kits may get the boilerplate right (or not) but it is other unforeseen twists (scenarios) that can have unintended consequences.

I apologize for resurrecting this thread, I have no idea how to start a new one (it would really help me to make this WAY more obvious on here, I want to do it so infrequently I can never remember how!).

I was looking at some recent changes eff Jan 1 2022 re succession law in Canada (e.g. Wills no longer automatically revoke on marriage, improperly executed Wills no longer automatically invalid, plus other changes), and it brought a question to mind.

I've drafted my and my spouse's Wills, properly witnessed, easy as all just goes to the other, we're good. But now I'm thinking how to make it easier and quicker for my wife/executor (who avoids all financial/legal matters if she possibly can) to get at the non-registered financial assets solely in my name, namely my own HISAs and GICs at online banks plus non-registered big-bank discount brokerage accounts. Wife will have help in her executor duties, just trying to simplify, if I can.

Question to anyone who might have some knowledge: In order to avoid probate process (I don't care about the fees/tax, it's the headache of getting a lawyer to file docs plus waiting a long time maybe) would it be beneficial to get Wills drafted by a lawyer? Or would it make no difference (i.e. online banks and discount brokers will insist on probated Will whether it's homemade or pro-prepared)?

Thanks.