VIDEO: Money 123: Importance of having a Will
Erica Alini, Global News
October 27, 2018
Like saving for retirement, writing a legal will is a financial must-do.
In this edition of our Money 123 series, online journalist Erica Alini looks at what can happen when someone dies without a will.
LegalWills.ca has been online since 2003. It operates all over English-speaking Canada and is planning to launch with an English-language website in Québec next year.
(But the company is also working on a French-language service to be rolled out throughout the country, co-founder Tim Hewson told Global News.)
A will costs $39.95 CAD,
and the site also offers other essential services that allow you to take care of your estate,
put someone in charge if you fall into a coma or become otherwise incapacitated, and even write down your wishes for funeral arrangements.
The site is also available in the U.S. and the U.K., which allows for expat wills.
That can be handy if you have, say, a condo in Florida or are working abroad but still have assets in Canada.
But perhaps most importantly, LegalWills allows for unlimited free updates to your will,
which means you don't have to pay a lawyer if, say, you have another child or get divorced.
Still, if you'd like to get a legal opinion on your online draft, the site will connect you to a lawyer who'll review what you have.