How to Make a Will in Canada: Willful vs. Lawyer Comparison

Jessica Moorhouse - Canadian Personal Finance

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Got a will? No? Then you need to watch this video about how to make a will in Canada!
This is my honest comparison of making a will online using Willful.co or going the traditional route and hiring an estate lawyer (note, this IS NOT sponsored). As mentioned in the video, I used a lawyer, but if I were to do it all over again (and Willful was around when I got my first will done), I'd probably go with Willful. But if you have complex needs and/or want legal advice (Willful doesn't provide any legal advice), then I highly suggest talking to a lawyer about your estate plan. Also, this video is just my personal opinion, it should not be considered financial or legal advice.
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Also read my full blog post on Willful (FYI the blog post sponsored, the video isn't though): jessicamoorhouse.com/willful-...
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HELPFUL RESOURCES
➡️ angusreid.org/will-and-testament/
➡️ www.canada.ca/en/financial-co...
➡️ willful.co/learn/legal-will-b...
➡️ www.mclartywolf.com/blog/when...
➡️ www.mclartywolf.com/blog/inte...
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ABOUT ME
I'm Jessica Moorhouse, a money expert, Accredited Financial Counsellor Canada, speaker, blogger, RU-vidr, and host of the More Money Podcast. I'm based out of Toronto, ON, Canada and turned my personal finance blogging side hustle into my full-time business so I could spend all my time teaching others how they can take control of their lives by taking control of their money. To learn more, check out my website jessicamoorhouse.com
#willful #howtomakeawill #estateplanning
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DISCLAIMER & DISCLOSURE
The content I produce is for education and entertainment purposes only. Nothing on this RU-vid channel, my website or affiliated channels should be considered financial, investment or legal advice, or an endorsement for any type of service, product, or brand. Some links in this description may be affiliate links in which I may earn a commission at no extra cost to you. Please read my disclaimer to learn more: jessicamoorhouse.com/disclaimer/

Опубликовано:

14 июл 2019

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Комментарии : 65

@jessicamoorhouse 5 лет назад

If you want to learn more about Willful or just making a will in Canada, make sure to also check out my blog post all about both: jessicamoorhouse.com/willful-vs-lawyer-best-way-make-will-canada/

@keithmallett7987 5 лет назад

Hey Jessica, thanks so much for this it. My father passed away suddenly on July 4th and we have been dealing with all of the intestate issues; we don't want anyone to go through that for us.

@jessicamoorhouse 5 лет назад

Thanks so much for sharing Keith (I know that's not easy!) and I'm so sorry for your loss.

@waste1100 Год назад

Thank you Jessica. You said and told me a lot on what rout i should go. It's great how easy it is how you show the facts.

@jessicamoorhouse Год назад

Glad it was helpful!

@MatthewBoydPhysio Год назад

Really helpful, I used your discount code. Thanks 👍

@jessicamoorhouse Год назад

Woohoo! Thanks and well done for checking "Get a will" off your financial plan to-do list!

@matrix3055 4 года назад

Thanks, so much useful info, you are the best

@jessicamoorhouse 4 года назад

Thanks for watching, glad you found it useful!

@bubzillian 3 года назад

This was helpful! Thanks :)

@jessicamoorhouse 3 года назад

So glad you found it helpful! :)

@HawkzTube Год назад

very informative video, thank you!

@jessicamoorhouse Год назад

You're so welcome!

@phillymontana 11 месяцев назад

Just a notice to something I heard in this video - Never put your will in a bank safety deposit box. Research everything you need to get access to somebody else's safety deposit box once they die. A crucial item that you'll need is IN that safety deposit box 🤨

@michelefisher5171 5 месяцев назад

I feel like a grown up! I have a will!

@jessicamoorhouse 5 месяцев назад

Well done!

@waltie6677 3 года назад

Thank you so much... 💓

@jessicamoorhouse 3 года назад

@rokanaakbanaduak6395 5 лет назад

Here from ....Our life....on a budget..fellow Canadian n new subbie..best wishes on ur journey

@jessicamoorhouse 5 лет назад

That's awesome, love that YT channel! Welcome and thanks for subscribing, appreciate it!

@aroundtheblock101 3 года назад

Like the site, helpful and well presented. Question: do you know of someone who prepared a DIY or WillFull will and had it go through the legal process (Probate etc) successfully? That is, not thrown out?

@jessicamoorhouse 3 года назад

I don't personally but that's definitely something you could ask Willful or other DIY will kit companies.

@disaj7460 23 дня назад

Hiya Jessica...cheers for this comparison vid...much appreciated! Quick question: Who is entitled to a copy of, say a parent's last will & testament? Thanks.

@jessicamoorhouse 21 день назад

Only the executor or lawyer who prepares the will is entitled to it unfortunately www.canadianlawyermag.com/practice-areas/trusts-and-estates/wills-and-estate-laws-how-does-one-prepare-for-death/377906#:~:text=Under%20the%20wills%20and%20estate,the%20will%20of%20the%20deceased.

@disaj7460 21 день назад

@@jessicamoorhouse thanks so much for your time & expertise. the executor of my dad's will (my brother) is living with someone who is pathologically interested the finances of my family members & inserting/insinuating herself in all of *our* affairs...unsolicited no less. She's not even in that field of work. at the funeral home a few days ago, she was strangely jumpy & guarding my dad's last will & testament. things definitely seem off with her. there are plenty of add'l examples...smh. anyway, now that you're somewhat caught up, cheers for your answer.

@raulakh123 Год назад

Thank--you , very informative video. Here is a question I signed a will as a witness for my friend who died, his wife called me to , she had the will be signed in front of a commissioner to witness and I had to go again to sign it again , he did in back date , also convinced my wife to do it again in front of commissioner or notary.

@jessicamoorhouse Год назад

Was there a question?

@1MPATIENT1 Год назад

Do you have a preference for life insurance? Are they connected to wills?

@jessicamoorhouse Год назад

Life insurance, although is part of overall estate planning, is not connected to making a will. With that said, you should definitely have both! In terms of life insurance, I prefer term life insurance as permanent life insurance can be extremely costly. The strategy with term life insurance is to have it cover your most expensive years (ex. child rearing, mortgage, etc...) but then when the term ends, to be in a financial position where you have enough assets that your dependents could liquidate to make up for the lack of life insurance. A great book about this is "Stop Over-Thinking Your Money" by Preet Banerjee.

@biancaleva 3 года назад

Nice video, I do want to put my daughter for my primary beneficiary and I don't see where could write her name? Help please

@jessicamoorhouse 3 года назад

If this is regarding Willful, I'd suggest asking their support team directly and they can help you with the platform.

@sandravella3198 10 месяцев назад

Very informative video. It doesn't mention that there is a 19.00 yearly fee with Willfull. If you're young when you create the will over time that may cost as much as the initial lawyers fee plus a few changes. Something to think about. Weighing all options.

@jessicamoorhouse 10 месяцев назад

I made this video years before they changed their pay structure. It was originally a one-time fee. Although now it's a subscription, you still need to factor in the cost of updating your will with your lawyer which could be hundreds of dollars each time since they bill hourly.

@PartapNarula-gb5zy 3 месяца назад

Is a handwritten will duly signed by two witnesses who are in no way beneficiary can be considered legal? I did make a will just before going for a bypass surgery at the Foothill Hospital and the hospital did keep a copy of my handwritten will. I have not made any changes to that will after that. Also I have made my wife as a nominee in my bank account and she has access to my bank locker. Is that will still valid? Please advise. Thank you Partap Narula, Sr Canadian Citizen of 78+ years (been on 19 July 1945

@jessicamoorhouse 3 месяца назад

So a handwritten will in Canada is called a holographic will. It is legal in Canada except not in BC or PEI. In general, I think it's best to get a traditional will using a lawyer or will kit so avoid mistakes or contradicting yourself and to make sure your wishes are properly communicated. You can learn more here www.willful.co/learn/holographic-will

@nojack9738 8 месяцев назад

Any update version video for this willful? Thank You. 🙏

@jessicamoorhouse 8 месяцев назад

A great idea actually since I did recently update my will using Willful. Likely won't have a new video for this until the new year since all my time is going into finishing writing my book.

@srodaki7417 3 года назад

Can I just record a video with details of the estate and benifeceiries and leave the memory card in safe box?

@jessicamoorhouse 3 года назад

As opposed to having a formal will? No, you need a will.

@kobejoe164 7 месяцев назад

Watching from Saskatoon

@jessicamoorhouse 7 месяцев назад

Hello! I've visited Saskatoon a few times and loved it :)

@anaocampo8525 2 года назад

If you have a property, which is better to sell it while you can or just to put it in your will for my 2 children as inheritance?

@jessicamoorhouse 2 года назад

This may answer your question www.rbcwealthmanagement.com/en-us/insights/4-ways-to-pass-down-your-family-home-to-your-children

@aligohar2033 Год назад

Does it help to register the Will. Where could one register the Will in Ottawa. Thanks

@jessicamoorhouse Год назад

I think this article should answer your question www.legalwills.ca/blog/register-a-will/#:~:text=You%20do%20not%20have%20to,the%20founders%20of%20LegalWills.ca.

@workingtools2999 2 года назад

Hi, Is it legal here in Ontario to Make your own hand written will?. Thanks.

@jessicamoorhouse 2 года назад

This article should help you understand the ins and outs (but I'd strongly suggest getting a real will) www.willful.co/learn/holographic-will

@workingtools2999 2 года назад

@@jessicamoorhouse Thank you. Wonder why willful ask how you want to be buried and if you want to donate your organs. Don't they usually read your will after you're wake/burial?.

@jessicamoorhouse 2 года назад

@@workingtools2999 Great question, they say "Many people choose to include their funeral and burial wishes along with their wills. If you choose to do this, you should let your loved ones know that this is where you’ve stored your plans, in case the will is not read until after the funeral." www.willful.co/blog/pre-planning-funeral-and-burial-wishes

@fredhooshi4294 Год назад

how about pro bate ? how to minimize it ?

@jessicamoorhouse Год назад

Do you mean how to minimze probate fees? If so, working with an estate lawyer can help and you may be interested in reading this article as well stepstojustice.ca/questions/wills-and-powers-of-attorney/what-are-probate-fees-and-can-i-reduce-them/

@minus3283 8 месяцев назад

the Will created via willful doesnt really work for probate in Ontario. so its kind a rip off for a lot of Canadian.

@jessicamoorhouse 8 месяцев назад

Not sure what you mean? Are you saying that Ontario courts more often find DIY wills invalid? I haven't found any evidence of this myself and considering half of Canadians don't have wills because of the high cost of using a lawyer, I still believe using something like Willful if you aren't looking for legal advice and don't have a complex situation in which a lawyer would be more appropriate is still a good option for people.

@AndreWilliams-ks4gq 10 месяцев назад

I need a probate lawyer in winnipeg canada. Who can help me?

@jessicamoorhouse 10 месяцев назад

I don't know any personally to recommend, so I'd suggest doing a Googel search, looking at reviews, and interviewing a few to find a good lawyer for you.

@lucasoak407 Год назад

Can you get power of attorney with willfull

@jessicamoorhouse Год назад

With their premium plans you can.

@rlemoyne007 11 месяцев назад

The will is not legal until it is approved by a lawyer. The lawyer will wait for the death certificate. In Quebec, it took 10 weeks to get it. Some assets require "maintenance" like car and house (hydro, internet, phone, city tax, school tax...). Credit cards and services to cancel... I find the whole system too slow and clunky.

@jessicamoorhouse 11 месяцев назад

Actually you don't need a lawyer to make a legal will in Canada, though there are important criteria to abide by depending on what province you live in. Here's some more info: www.willful.co/learn/what-are-the-requirements-for-a-will-to-be-legally-valid

@rlemoyne007 11 месяцев назад

@@jessicamoorhouse , the will needs to be validated by the court system. The will can be contested by those who would have inherited if there was no will. Proof has to be made that those people have been contacted. Witnesses have to be contacted as well.

@jessicamoorhouse 11 месяцев назад

@@rlemoyne007 A will can still be contested if you use a lawyer. The article explores this and what you can do to create a valid will, with or without a lawyer.

@stevenwishart2723 Год назад

Sorry but created an account on Wilful and it is lackluster at best, you can't even see what the final document will look like until you pay. I don't think so. I encourage people to create an account and see for themselves, but doesn't look like it is worth the cost it is asking without seeing a final revision of what it might actually like like. Site looks like a joke sorry but that's my 2c.

@jessicamoorhouse Год назад

Well I'm assuming they would do this to avoid people just screenshoting it and printing it for use, instead of paying for the program.

@westbccoast Год назад

@@jessicamoorhouse Yeah my thoughts well but I didn't get a good feel of the site because of this, maybe providing a sample of the final report would help, I didn't go out of way to look for one. Certainly not impressed with what I saw, so they going to have to do a better job I think.

@jessicamoorhouse Год назад

@@westbccoast You can always email or call them to request something, and they may be able to provide you with an example of the final doc if that's what you're looking for.