March 31 to April 6, 2014, is Make-a-Will Week in British Columbia and its purpose is to encourage the public to write their will or bring an existing will up-to-date.
According to Gilchrist & Company in Penticton getting a will is vitally important.
“The main reason is that you don't want to leave your loved ones behind wondering what your intentions were and being stuck with a legislated will that will leave your assets to people that weren't necessarily the most important ones to be leaving your property to,” said Geoff Severide, Partner at Gilchrist & Company.
And don't worry if you don’t have a will, you’re not alone.
According to a 2014 report for BC Notaries, just 55 per cent of British Columbians have a signed, legally valid and up-to-date will.
According to the Ministry of Justice, a will is the best way to ensure that the people, charities and organizations you cherish most receive the benefit of your estate.
If you die without a will, your estate may not be distributed in the way you would have wished and the costs of administering your estate may also be higher.
Having a will also helps ensure that important questions for parents, like who will raise your young children if both you and your spouse die.
With that in mind we are curious if you have a valid legal will or if you are going to get a will?