A Few Minutes Of Planning To Avoid Your Family Years Of Heartache
The Hidden Cost of Not Planning Ahead: How Estate Planning Can Save More Than Just Money
Let me ask you something: If you were gone tomorrow, would your family know exactly what to do? Would they be taken care of the way you always intended, or would they be left to figure things out on their own?
I’ve seen the reality of what happens when we don’t plan ahead, and it’s heartbreaking. One of my clients thought everything was in order, but when we checked his RRSP, we found his ex-wife was still the beneficiary. His current wife wasn’t exactly pleased—and can you blame her? Luckily, we caught it in time, but it made me think about all the things that could slip through the cracks if we didn’t take the time to review our plans.
And that’s just one story. I’ve had clients with outdated wills, or worse, no wills at all. It’s not that they didn’t care—it’s that life gets busy, and these things slip down the priority list. But the cost of waiting can be far bigger than you realize.
The Emotional and Financial Costs
About 70% of my clients have wills, which is great compared to the Canadian average. But here’s the problem: half of those wills are outdated. And about 25% of the wills I see aren’t even signed yet. It’s not unusual for clients to look at me sheepishly when they realize they’ve been putting it off. I’m not there to judge, but instead, just ensure things are in order. Honestly, I’m glad we catch these things before it’s too late. It’s hard enough for the family dealing with the loss of a loved one without having to sift through all your files trying to make financial sense of things.
One client hadn’t updated their executor, and it turned out the person they’d appointed passed away five years earlier. Imagine what that would have done to their family—navigating grief, while also trying to fix an estate plan that wasn’t ready for them. It’s the kind of stress and confusion no one should have to face, especially in the middle of a loss.
What Can You Do Now?
I know estate planning can feel daunting and maybe even uncomfortable. But the peace of mind that comes from knowing your loved ones are protected is worth every moment spent planning.
When was the last time you updated your will? Does it reflect your current wishes, family situation, or business? Estate taxes are another big issue—if you’re not careful, the government can take a much larger slice than necessary, leaving your family with far less than you intended.
If you’ve been pushing “update my will” to the bottom of your to-do list, think it takes too much time or are unsure where to start, here’s your chance to have a legally binding will in less than 20 minutes. Click here for the best online will kit and save 20%. Even with complex estate needs, having something is better than nothing.
If you have been pushing this off, you’re one of millions in Canada who doesn’t have a will. I’m happy to give you the extra incentive you may need.
Don’t wait until it’s too late to protect what matters most. Planning ahead isn’t just about money—it’s about taking care of your family, sparing them from unnecessary stress, and making sure they’re supported in the way you always wanted.
