A Will ensures your wishes are known and respected, easing the burden on your loved ones at an already difficult time. But who is qualified to help you write a Will in Canada?
This article explores your options and explains why turning to a professional with the TEP (Trust and Estate Practitioner) designation, along with the expertise, professionalism, and ongoing support that come with STEP Canada membership, is the best way to ensure your legacy is handled correctly.
Why You Need a Will
A Will is more than a legal document; it is your voice when you can no longer speak. Without one, your estate is distributed according to provincial laws, which may not reflect your intentions. Family members may face unnecessary legal hurdles, expenses, and even conflict as they attempt to settle your affairs.
Even if you believe your estate is modest, having a Will:
- Clearly states who inherits what.
- Names an executor (the person responsible for administering your estate).
- Reduces stress, confusion, and potential disputes among survivors.
- Provides instructions for unique assets, minor children, business interests, or charitable gifts.
Even a “simple” estate can become unnecessarily expensive and complex if the deceased did not properly document their intentions or consider any tax consequences.
Who Can Help You Prepare a Will?
Technically, any adult Canadian of sound mind can write their own Will. You can even buy a Will kit or use an online form. However, these DIY solutions have significant risks. As the federal government advises that while Will kits and guides can help you get organized, they can’t deal with everything. A professional can ensure that all your documents are prepared and witnessed properly.
Improperly drafted Wills can lead to costly court battles, unintended outcomes, or invalidation altogether. That’s why many Canadians choose to engage a professional. Your options include:
Lawyers and Notaries
In every province and territory, lawyers experienced in Wills and estates law can draft your Will, advise on tax implications, and help plan your estate. In Quebec and British Columbia, a notary public (a government-appointed, public officer authorized to witness the signing of documents, administer oaths, and certify true copies of documents) may also prepare a Will.
The Importance of Collaboration
Estate planning is most effective when it involves collaboration among a team of qualified professionals. While financial planners and accountants play a critical role in helping clients organize their affairs and plan for the future, Will-drafting should be undertaken by legal professionals or trust companies that are authorized to offer this specialized service.
By working together, these professionals ensure that clients receive comprehensive and compliant estate planning guidance tailored to their unique needs.
Why Choose a Professional With the TEP Designation?
For peace of mind and confidence that your estate is in the best hands, consider working with a professional who holds the TEP (Trust and Estate Practitioner) designation.
The TEP designation identifies leading professionals in the trust and estate field. TEPs are recognized for their deep knowledge, commitment to ethical practice, and ongoing professional development.
As members of STEP (Society of Trust and Estate Practitioners) Canada, TEPs:
- Meet rigorous global standards and abide by a Code of Professional Conduct.
- Stay current on legal, tax, and regulatory developments through continuous education.
- Have access to a global network of trust and estate specialists for complex, cross-border situations.
TEPs are specialists with proven expertise in multi-generational estate planning who help families make informed decisions by offering impartial advice. Their role includes breaking down complex matters into clear, understandable terms.
The Value of STEP Canada’s Network
What sets a TEP apart is not only their individual expertise but also their connection to a vibrant professional community. STEP Canada provides its members with continuous learning opportunities, thought leadership, and a collaborative forum for sharing insights and best practices.
As a result, TEPs are not just technically skilled; they’re also supported by ongoing training and peer exchange, ensuring they bring the most current and practical strategies to every client.
STEP Canada also engages with policymakers to advocate for fair and effective laws and regulations in the trust and estate sector, so TEPs are at the forefront of legislative change.
Why Not Just Use a Will Kit?
It’s tempting to save money by using a DIY Will kit, but this route often creates more problems than it solves. Kits and online templates cannot account for your specific family dynamics, business interests, tax considerations, or provincial nuances.
Common problems with DIY Wills include:
- Failure to properly appoint or empower an executor.
- Invalid witnessing or signing.
- Conflicts with provincial laws.
- Ambiguities that lead to disputes.
Choosing the Right Executor
Your executor (or trustee/personal representative) is responsible for carrying out your wishes. This role can be time-consuming and complex. If you don’t have a trusted family member or friend able to fulfill this role, you may appoint a professional, such as a trust company or TEP.
A professional executor brings neutrality, experience, and efficiency, reducing stress on your family at a difficult time.
Other Considerations in Estate Planning
A TEP can also help you with:
- Planning for blended families or special needs beneficiaries.
- Structuring charitable donations.
- Preparing for incapacity with powers of attorney and healthcare directives.
- Managing cross-border and international assets.
- Business succession planning.
Estate planning often involves more than just a Will. Some assets (like jointly held property or insurance policies with designated beneficiaries) may pass outside your Will. A professional advisor ensures your entire plan is cohesive and tax-efficient.
When Should You Update Your Will?
Once you’ve made a Will, review it regularly—at least every three to five years or whenever you experience a major life change (such as marriage, divorce, the birth of a child, or acquiring significant assets).
Where to Start
If you are ready to prepare or update your Will, here are your next steps:
- Take stock of your assets and liabilities.
- Consider who you want to inherit what.
- Think about whom you trust to act as executor.
- Seek advice from a qualified professional, preferably a TEP.
- Discuss your wishes with your family.
STEP Canada offers a public directory where you can find a TEP near you: 'Why Hire a TEP'