Why Updating Your Will is the Greatest Gift You Can Give Your Family

We all have that one task we keep pushing to the bottom of the to-do list, right? For many of us, that task is creating or updating our will. It’s not exactly the most thrilling way to spend an afternoon, but it’s one of the most important things you can do for the people you care about. Yet, 51% of Canadians don’t have a will. And among those who do, 28-35% are walking around with a will that’s outdated or in need of a serious refresh.

Now, I get it. Who wants to spend time thinking about what happens when we’re gone? But as uncomfortable as it might be, it’s something that truly matters. So, let’s have a little fun while we tackle this serious subject and break down some of the reasons why so many people avoid creating or updating their will:

1. Procrastination

Ah, procrastination. We’ve all been there. "I’ll get to it tomorrow," we say, and then tomorrow turns into next year.

2. Fear of Mortality

No one likes to think about their own expiration date. It’s like contemplating the last episode of your favorite show—it’s easier to pretend it’ll never happen.

3. Not Knowing the Consequences

You know what they say: ignorance is bliss... until it isn’t. Not knowing what could happen if you don’t have a will is a dangerous game.

4. It Seems Too Complicated

Let’s be honest, the word “estate” makes it sound like you need a mansion and a butler to justify having a will. But even if you’re more “apartment and takeout,” a will is still crucial.

5. Worrying About the Cost

Some people think creating a will is going to cost them an arm and a leg. Spoiler alert: not having one might cost your loved ones even more.

6. Thinking They Don’t Own Enough

You might think, “I don’t have much, so what’s the point?” But trust me, even your cherished collection of vintage action figures needs a plan.

7. Uncertainty About Decisions

Choosing who gets what can feel like picking teams in gym class. But remember, this isn’t dodgeball—everyone wins when there’s a plan.

8. Family Dynamics

Family drama is the gift that keeps on giving, and avoiding it is sometimes reason enough to put off writing a will.

9. Lack of Awareness

Young folks often think they’re invincible and that wills are for “later.” But sometimes, “later” sneaks up on you faster than you think.

10. Optimism

“I’ve got plenty of time,” we tell ourselves. But life has a funny way of laughing at our plans, doesn’t it?

In our next blog, we'll dive into the unintended consequences of not having a will—trust me, they're more serious than you might think. We'll also explore some of the most common (and sometimes amusing) excuses people give for not getting around to it. Whether it’s optimism, fear, or just good old-fashioned procrastination, these reasons are more relatable than you might imagine. So stay tuned, because understanding these excuses might just be the nudge you need to finally tackle this crucial task. After all, your loved ones deserve peace of mind, and so do you.