There are many Canadians who don’t update their will and estate plans on a regular basis or upon significant life changes, but even worse there are those of us who do not have a will at all! I thought I would point out that if you die intestate (without a “last will and testament”), and you have no living blood relatives then your entire estate goes to your provincial government.
Suggestion: write a simple holograph will (a will written and signed by you in your own handwriting). It doesn’t require witnesses, but there are some drawbacks if your estate is complex and if you make directions that are not accurate or allowed. You can name me as the beneficiary of your estate (after-tax please!). Or, you know, a charity or a friend. (NOTE: Holograph wills are not recognized in all provinces – Thanks to Tim from Canadian Dream: Free at 45 for the tip)
I think these are all better options than leaving it to the Crown, don’t you? :)
Of course, my suggestion to leave it to me is a joke and you should seek independent legal counsel on matters such as this. Happy Monday!