The Importance of planning ahead

As a Canadian lawyer, I’ve seen firsthand the impact that failing to plan ahead can have on families. It’s easy to put off planning for the future when life seems busy and unpredictable, but one of the most important steps you can take to protect your loved ones is to create a will. While it may seem like a task for the elderly or those in poor health, the truth is that everyone—no matter their age or health—should have a will in place.

Life is Unpredictable: The Case for Early Planning

Life expectancy in Canada has steadily increased in recent decades, with the average life expectancy currently around 82 years. Yet, despite living longer lives, we find ourselves leading fast-paced, stressful, and often unpredictable lives. Accidents, illness, and unforeseen events can strike at any moment, and in today’s world, health issues such as cardiac arrest are becoming an increasing concern. In fact, recent studies have shown a significant rise in cardiac arrest-related deaths in Canada. According to the Heart and Stroke Foundation, one in 12 Canadians is at risk of dying from heart disease. This serves as a stark reminder that life is fragile, and we cannot predict what tomorrow will bring.

Given this unpredictability, creating a will is not just about planning for when you’re elderly—it’s about ensuring that your wishes are followed in the event of the unexpected. A will ensures that your loved ones know exactly what to do if something happens to you, minimizing confusion, conflict, and legal complications during an already difficult time.

Why a Will is Essential

A will serves as a legal document that outlines your wishes for the distribution of your assets and how your affairs should be managed in the event of your death. Without a will, the distribution of your estate will be governed by provincial laws, which may not align with your desires. It can also lead to long legal battles and confusion among surviving family members, adding unnecessary stress during an emotional time.

Moreover, a will allows you to appoint a guardian for your minor children and specify medical decisions if you are unable to communicate them yourself. In short, a will ensures that your wishes are respected and provides peace of mind to you and your loved ones.

Checklist: Steps to Creating a Will

Creating a will doesn’t have to be complicated, but it does require careful consideration. Below is a simple checklist to guide you through the process:

1. Make a List of Your Assets and Liabilities
   Start by listing all of your assets—real estate, bank accounts, vehicles, investments, personal property, and anything else of value. Also, consider any liabilities (debts) that will need to be paid off after your death.

2. Decide Who Will Inherit Your Assets
   Choose beneficiaries for your estate. This can include family members, friends, or organizations. Make sure to specify how you want your assets divided (e.g., a percentage for each person or item).

3. Appoint an Executor
   The executor is the person responsible for ensuring your wishes are carried out. Choose someone trustworthy who is capable of handling the responsibilities associated with administering your estate.

4. Consider Guardianship for Minor Children
   If you have young children, appoint a guardian to take care of them in the event of your death. This is one of the most important aspects of a will for parents, as it ensures your children will be cared for by someone you trust.

5. Specify Funeral and Burial Preferences
   While not legally required, many people use their will to outline their preferences for funeral arrangements and burial. This can relieve your family of difficult decisions during an already emotional time.

6. Address Digital Assets
   In today’s world, don’t forget to consider your digital assets, such as social media accounts, online banking, and email accounts. Make sure to specify what should happen to these accounts after your death.

7. Review and Update Your Will Regularly
   It’s important to review your will regularly, especially after significant life events like marriage, divorce, the birth of a child, or purchasing property. Your will should reflect your current situation and intentions.

How to Start Creating Your Will

1. Consult a Lawyer
   While it’s possible to create a will on your own using online templates, it’s highly recommended to consult with a lawyer to ensure that your will is legally sound and free from ambiguity. A lawyer can also help you navigate complex issues such as tax implications, guardianship, and special asset considerations.

2. Choose Your Executor and Witnesses
   When drafting your will, ensure that you appoint a reliable executor who is willing to take on the responsibility. You’ll also need to select witnesses who can verify the authenticity of your will.

3. Make It Official
   Once your will is written and signed, it must be witnessed by two independent individuals who are not named in the will. These witnesses should be over the age of 18 and must sign the document in your presence to validate it.

4. Store It Safely
   After completing your will, store it in a secure location where your executor can easily access it. Many people choose to store their wills with their lawyer or in a safe deposit box at the bank.

5. Communicate Your Wishes
   It’s also a good idea to communicate with your family about your will and your decisions, particularly regarding guardianship for children or funeral preferences. This helps avoid any confusion or disputes later on.

While life may be unpredictable, one thing you can control is how your affairs will be handled after your passing. Creating a will is one of the most important steps you can take to protect your loved ones and ensure that your wishes are followed. Don’t wait for tomorrow—take the time to plan ahead today, and give yourself and your family the peace of mind that comes with knowing everything will be taken care of. If you haven’t already, now is the time to start drafting your will and ensuring your legacy is protected.