"It's good sportsmanship to not pick up lost golf balls while they are still
rolling." Mark Twain

The Importance of Your Will

"I know - I really have to get my will done." or " I know - it's time to have my will reviewed" is almost a cliché in client meetings. There is a deadline for RSP contributions which is a saviour for some of us - creating a much needed sense of urgency. Theoretically, there is a deadline for wills, but we never know ahead of time when that is.

What holds us back from taking the time to do what we know we need to do? I think there are a couple of issues:

• Dealing with our own mortality is a sensitive and sometimes overwhelming issue which inspires procrastination.
• The demands of everyday life seem to put will planning on tomorrows agenda.
• Even with time to spare, where does one start on writing your will?

You know yourself that the peace of mind that comes with knowing it is off your "to do list" is reward enough to address the first two issues. Here are some links that should solve the last issue. Included are two offerings from Manulife and two from AIM/Trimark. I have picked from the myriad of what is available as being pertinent and useful. Please take some time and peruse these. They can be downloaded if you want to make some notes as you go along.

Will Kit

Will Brochure

 

Finding a Lawyer

Do you need to spend money on a lawyer? I believe you get what you pay for. My own disclaimer is that I am in no position to offer legal advise and I recommend consulting a professional. I can't speak to "will kits" advertised on TV and radio for $39.99 but I attended a seminar where a lawyer proclaimed that will kits are good business for his firm because of the high percentage of contestability of these wills. He charges $150 to $500 for a will, but his firm gets upwards to $10,000 to $20,000 from a client where a client dies interstate or a will is disputable.

The Law Society of Upper Canada offers a referral service. You may already have a family lawyer or someone who can refer you to one. For a reasonably priced will you may want to investigate www.janeharveylawyers.com if you live in the Greater Toronto Area. Be prepared when you arrive at your lawyers office. Obviously, the more homework you have done, the less billable time it will take to complete the process. As with anything, if I can be of service, let me know... chisholm@queensbury.com