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

Let me tell you a story about a family I worked with recently. It started with good intentions, as most things do. John and Sarah had always meant to update their wills, but life kept getting in the way. They were busy running a business, raising kids, and squeezing in time for the occasional family vacation. “We’ll get to it soon,” they’d say, and then soon turned into years.

Then, unexpectedly, John passed away.

Sarah thought everything was in order, but it was painfully out of date when she pulled out their will. It hadn’t been touched since their youngest child was born 15 years earlier. The will didn’t account for their growing business, changing family dynamics, or even the new property they had purchased.

And that’s when the problems began.

The Ripple Effect of an Outdated Will

With an outdated will, Sarah was left scrambling to sort out the mess. The assets didn’t align with John’s wishes, and significant portions of their estate were tied up in probate. Legal fees started piling up, and family members disagreed about who was entitled to what.

The stress and tension left behind overshadowed John’s legacy—a lifetime of hard work and planning. It wasn’t just about the money; it was about the emotional toll it took on Sarah and their children during an already devastating time.

Why Do People Avoid Updating Their Wills?

John and Sarah’s story isn’t unique. 51% of Canadians don’t have a will, and among those who do, 28-35% have outdated wills. So, why do so many people avoid this critical task?

Here are some of the most common reasons:

1. Procrastination

   • "I’ll get to it tomorrow," people say, but tomorrow has a funny way of turning into next year.

2. Fear of Mortality

   • No one likes to think about their mortality; it’s uncomfortable.

3. It Seems Too Complicated

   • Words like “estate” make it sound like you need millions of dollars or a sprawling mansion to justify having a will.

4. Worrying About the Cost

   • Some people assume creating a will is expensive, but the cost of not having one can be far more significant.

5. Family Drama

   • For some, navigating tricky family dynamics is reason enough to put it off.

6. Thinking They Don’t Own Enough

   • “I don’t have much, so why bother?” But even small assets—and sentimental items—need a plan.

7. Optimism

   • “I’ve got plenty of time,” they tell themselves. But life often has other plans.

The True Cost of Procrastination

Here’s the truth: not having a clear, updated will isn’t just an inconvenience—it’s a burden for your loved ones. Without a will, here’s what they might face:

• Probate Delays: Sorting out an estate without a will can take months—or even years.

• Family Conflict: Without clear instructions, asset disputes can lead to strained relationships.

• Unnecessary Taxes: Poor planning can result in a significant portion of your estate being lost to taxes, leaving less for your family.

• Business Uncertainty: If you’re a business owner, lacking a succession plan can leave your employees and partners in limbo.

Why Updating Your Will Is the Greatest Gift

When you take the time to update your will, you’re giving your family peace of mind.

• Clarity: A clear, up-to-date will eliminates confusion and ensures your wishes are honoured.

• Protection: Proper estate planning minimizes taxes, legal fees, and delays.

• Security: Your loved ones can focus on healing and supporting one another instead of navigating a legal maze.

Breaking the Cycle of Procrastination

I get it—estate planning isn’t exactly fun. But the process doesn’t have to be overwhelming. Tools like LegalWills.ca make creating or updating your will in under 20 minutes easy and affordable.

Here’s how you can get started:

1. Review Your Current Will

   • Does it reflect your current family dynamics, assets, and wishes?

2. Address Key Questions

   • Who will be your executor?

   • Who will care for your minor children?

   • How do you want your assets distributed?

3. Take Action

   • Don’t wait for “someday.” Start now and give your family the gift of peace and security.

The Legacy You Leave Behind

At the end of the day, updating your will isn’t just about legal documents—it’s about love. It’s about making sure your family is cared for, your wishes are respected, and your legacy is one of care, not chaos.

So ask yourself: What would your family face if something happened to you tomorrow? If the answer isn’t clear, take the time to change that. Your loved ones deserve it—and so do you.