A will is a legal document that says how you want your estate to be divided once you die. Your estate includes what you own (called assets) and what you owe (called liabilities). An up-to-date will can help your estate representative deal with your estate when you die. Provinces and territories set the laws for estates.
You’re not legally required to prepare a will. However, if you don’t have a will, the laws in your province or territory will determine how your estate is divided.
It’s a good idea to get professional legal help when you make a will. This will help you make sure all your documents are prepared and witnessed properly. Be prepared to pay legal fees.
It’s a good idea to make a will, even if you’re not sick or don’t seek legal advice.
You can prepare financially for your funeral by pre-paying for your funeral service. You can also arrange the funeral service in advance. Funerals can be very stressful and expensive. Preparing and pre-paying for your funeral will ensure that your loved ones aren’t responsible for this expense.