Looking to make a will. Anybody have any suggestions? Are online ones any good or do I need a proper lawyer? Things to look out for?
A number of years ago, my spouse and I decided to create a will as we were worried about our daughter not being taken care of if something bad happened.
After investigating options to do it ourselves, we decided to pat a lawyer $1500+ and ended up very glad we did. There were serious considerations that hadn’t even crossed our minds. It also was built such that it was applicable even after she reach adult age.
My recommendation is to get a lawyer, especially if you have dependents, real estate, or other substantial investments.
Thanks, that makes sense, I’m not even sure which questions I need to be asking so that would be helpful.
How did you go about finding a good lawyer?
Honestly, word of mouth is your best path for any service, be it a plumber or a lawyer. Network with your friends or coworkers. I actually would not recommend involving family though, as they may be involved in the outcome.
While I strongly think this is a good advice, I’d still advise to cross-reference whatever OP’s lawyer tells them : with my wife, we did our wills a few years ago with a professional (actually, a public notary in Quebec, but they are supposed to be the knowledgeable ones here) and some things we were told were incorrect, while they missed a few important informations.
Many good questions were raised, so it has been a good basis that we’ve updated by ourselves in the mean time, knowing that even if our latest wills weren’t found, these could still be used satisfactorily, as these are officially registered.
We’ll probably update them again with a notary in a few years, or if there is any important life event in the mean time.
Any tips on finding a lawyer suitable and good at this specific branch of law?
If your situation is normal to the point of boring, you can do an online will. Follow the instructions very carefully. If you have any property (including a savings account) in other provinces or other countries, a blended family, charitable bequests, get a lawyer who does estates and wills.
Thanks, yeah, sounds like it’s worth getting one then as I meet some of those criteria.
Any advice on how to find a good lawyer?
LinkedIn, look for lawyers that specialize in wills and estates, then interview three or four. Or all family, friends and neighbours if they have worked with a lawyer that they liked. Ask about their prices and their rates. You don’t want someone who just uses a template and file in the blanks, you want one that will ask you a lot of equations to really understand your situation.
If you’re in Alberta, DM me and I can recommend a couple.
If you have a net worth more than what it would cost to put you in the ground, you need a lawyer.
Almost every time I’ve been to update my will, we improve it and it more closely reflects my wishes. For example, I recently found out that if I were to pass unexpectedly, my FAMILY (with whom I do not have a relationship) would receive my home, NOT my partner. The lawyer also helped me find an equitable way to distribute my assets to my friend’s children that covered more scenarios than I’d imagined.
I’ve heard some people say you don’t need a lawyer, and others say a lawyer is needed. I don’t know, so I just used a lawyer just to be safe.
While you’re thinking about your will, maybe also think about power of attorney (financial and medical).
Honestly, if you have a net worth of more than mid-5-digits, lawyer up.
The lawyer told me crazy shit that I didn’t realize were law (I’m common-law with my GF, but if I died, the house would go to my parents, not her).
They can also provide advice on how to simplify your estate – like altering the title of any property you own so that it flows down to your beneficiaries and avoids probate.
Right now, in the wake of COVID, Probate courts are backed up, in some cases for years. Dodging probate as much as possible will make wrapping up your estate as simple as possible.
Only other advice: If you have more than one attourney or executor, assign an impartial third party with no interest in the situation as a ‘tie breaker’ in case there’s a dispute – I’ve spent nearly $20k on lawyers and courts to resolve an issue that couldn’t be handled in a sane manner because someone fell down the conspiracy theory rabbit hole.
