Creating a will is on everyone’s to-do list – and likely gets put off more than anything else. We know we should create one, but talking about death is never comfortable. If you die without a will, your assets are disposed of according to provincial interstate laws.This essentially means a huge headache for your family, loss of assets and added court and tax costs. Your family will be going through enough already. Take a burden off them by taking the time to create a will.

This is what you should know about creating a will:

  • Start young, or as soon as you begin to accumulate net worth.
  • Use a lawyer to create a will that grows with you – an off-the-shelf variety can’t do that.
  • A will must include the appointment of an executor to implement your will; choose someone who is capable of carrying out the duties required and be sure to ask their permission before using their name. Chose an alternate as well in case the first is not able to act on your behalf. Avoid obvious conflicts of interest, and if you want your executor to be paid for their time, clearly state that in your will.
  • Your will also includes the appointment of legal guardianship of your children. This is a huge decision so take the time to talk it over with those involved.
  • The other major part of your will is a listing of assets and disbursements – you can specify who you would like to receive money and valuables such as jewellery or a special collection.
  • Most wills also include a power of attorney – someone to make financial and health decisions on your behalf if you are unable to while you are alive.
  • You should review your will every three to five years or as laws or your personal circumstances change.

Your will and disbursements are always subject to provincial law. Major changes in your life, such as marriage and divorce, can impact the validity of your will, which is why it is so important to keep it up to date.

While your financial planner or Libro Coach won’t be involved in the legal aspects of your will, they can advise you on the financial aspects. Having a will and planning your estate are important parts of a well thought out financial future. Stop procrastinating and check ‘create will’ off your to-do list this winter!


Jennifer McCallum

Thank you so much for stopping by this page to get to know a bit more about me and why I started Parent Guide Inc. My business story started a way back in 2001... …after the birth of my first daughter, I realized that an "all-in-one" resource guide for parents was needed, and fast! I designed the New Parent Resource Guide to fill a gap in the community for busy parents like myself. The New Parent Resource Guide offers an A-Z of key contacts for parents, caregivers, service providers, and health care professionals.  Working with key businesses and organizations in the community, we have also compiled much-needed articles, tips, and charts to answer all your parenting questions. The latest addition to our family is the School Age Resource Guide to serve parents of children, 3 to 18 years!  This guide answers questions about: nutrition, bullying, curriculum, building self-esteem, and much more, as well as offering a full directory of local and national resources. The website offers an “all-in-one” spot for parents to connect, add their own blog, and find needed resources in their community.  It is a site that educates and entertains and if you can't find somthing just ASK me. I am here to serve YOU!  My hope is that you connect with our members, find comfort in their words, and share your own story. My goal is to see what I can do to help make life a bit easier for you.   You are why I do what I do! I can’t wait to get to know you!  Comment below to tell me about yourself – then start blogging so we can find out what makes you get up in the morning!  Check out my blog too and I am sure you will be surprised what gets me out of bed each day!!! Jennifer -  Mom and Publisher

Leave a Reply