When you hear the word “estate,” you tend to think of wealth, property, and assets. As such, people assume that creating a Will is only necessary for the wealthy. Regardless of your financial status or age, having a Will is an essential component of your life planning strategy.
Protecting Your Loved Ones: Your Will enables you to specify your wishes for your children’s guardianship should something unexpected happen to you. Without a Will, the courts decides and manages decisions regarding their well-being.
Protecting Your Digital Estate: In today’s technological era we have various digital assets including social media accounts, web domains, crypto currency emails, and online storage. Assigning someone you trust as the executor of these accounts in your Will can save your family members from a lot of stress and difficulties.
Ensuring Quick Dispensation of Your Assets: When someone dies, the process of dispersing the estate could take years. With a Will the process to can be more convenient and faster for your family members.
Trust and Peace of Mind: A Will is a way to provide reassurance and support for your loved ones by providing clarity and ensuring distribution of your estate is according to your wishes.
Flexibility: A Will does not take effect until your death, so you can modify or revoke your Will anytime you wish while you’re alive.
A Will is essential for everyone—not only the wealthy. A Will is a valuable component of a well-structured life plan. It’s a symbol of your love and care for your loved ones and proves invaluable to ease their difficulty when you’re gone. So don’t hesitate, make your Will and provide peace of mind to those who matter the most to you.
Certified Executor Advisor
AUTHOR
Craig Gorham is a Certified Executor Advisor at Summit Legal Group, guiding clients through the Estate Administration process with compassion, empathy and a wealth of specialized knowledge. You can reach Craig directly at 587-393-2069 or craig@summitlegalgroup.ca.
