Making a Will; 5 reasons to not procrastinate

Thinking about Making a Will, but not managed to get started? don’t worry, you are not alone. Unfortunately, many people procrastinate the estate planning process for a variety of reasons. People might think that estate planning is complicated, time-consuming, or will cost them hundreds of dollars in fees.

According to a survey by legal insurance firm LawPRO, 56% of Canadian adults do not have a Will, more than half of them because they either don’t know how to get started or think they can’t afford to. The numbers are almost identical south of the border: the American Bar Association cites 55% of American adults as not having a Will or estate plan. Continue reading →

A Joint Will, Mutual Wills, Reciprocal Wills explained

We get this question almost every day; “I would like a will for my husband and I. This is only letting me do one will. How do I get a joint Will that will allow us to give what we have to each other?

Couples have several options when writing a Will together. Among them are:

A Joint Will;
Mutual Wills;
A Reciprocal Will or Mirror Will.

Defining a Joint Will and Mutual Wills

A Joint Will is a single document that allows for a couple to combine their Last Will and Testament. Normally, one partner inherits the entire estate when the other dies. When the second partner dies, the estate will be handled as agreed to by both partners. Continue reading →