Planning for the future isn’t just about saving money—it’s also about making sure your wishes are respected and your loved ones are protected. One of the most important steps in that process is creating a valid Will. Here’s why you shouldn’t delay making a Will and what can happen if you pass away without one.
Why You Should Have a Will
1. Ensure Your Wishes Are Honoured
A Will clearly outlines how you want your assets to be distributed after your death. Without it, you leave those decisions to the government, which may not reflect your preferences.
2. Appoint a Trusted Executor
Your Will allows you to name an executor—the person responsible for carrying out your wishes. Without a Will, the court appoints someone to manage your estate, and it may not be the person you would have chosen.
3. Protect Your Family and Dependents
If you have minor children, a Will lets you name a guardian to care for them. It also ensures your spouse, children, or other dependents are provided for according to your wishes.
4. Minimize Family Disputes
Without a Will, family members may disagree over who gets what, leading to unnecessary conflict and legal battles. A clear Will helps prevent misunderstandings and resentment.
5. Save Time and Costs
A well-prepared Will can simplify the probate process and reduce legal fees. Without one, your estate may face delays, increased expenses, and higher taxes.
What Happens If You Die Without a Will?
If you pass away without a Will (known as dying “intestate”), your estate will be distributed according to the laws of your province. In British Columbia, the Wills, Estates and Succession Act (WESA) will determine who inherits your assets. This process can:
- Take longer and cost more in legal fees.
- Distribute your estate in ways you might not have wanted.
- Leave loved ones without the financial support you intended.
- Lead to family disputes or court intervention.
Written by Paul Choi, Founder of Sky Law
