Will & Estate Planning

Home 9 Will & Estate Planning

Do you have a plan in place for your belongings, savings, and beneficiaries in the event of your passing? If not, New World Agency can help you with your will and estate planning.

We are partnered with LegalWills.ca, a service which is provided for FREE to any New World Agency clients who purchases a $100,000 Universal or Whole Life Insurance plan. What is LegalWills.ca? They provide a DIY way to create a will that does not require any lawyers to be involved.

With LegalWills.ca, you can easily prepare your estate planning documents at home for a much lower cost than a typical lawyer-based service.

What is a Will?

A will, sometimes referred to as ‘your last will and testament’, is a document outlining your preference for the allocation of your assets once you have passed away. In simpler terms, it outlines what you want your loved ones or friends to do with the things (money, belongings, etc.) that you have left behind.

When you are still alive, your will doesn’t hold much power, but once you have passed, it’s an extremely important document.

There are three main functions of a will at the time of your passing:

It outlines how you would like to distribute your assets. What do assets typically include? Your home(s), money, investments, and so on. All of the things that were owned by you when you were alive. Most people are detailed in who they want these assets to go to. 

If you have children/beneficiaries who are still alive in the event of your passing, the will should have information about who you’d like to name as the guardian(s) of the children.  

Your will must also name an executor. The executor (usually a trusted friend or family member) is someone who helps ensure that everything you have outlined in your will is properly completed (assets distributed to the right people and so on). They are important because they will be the main contact to handle all of your financial and business-related information when you have passed.

When Should a Will be Made?

Your will can be made when you feel secure and ready to get the process started. We don’t recommend waiting until you are in a late stage of life, as it can be beneficial to have one when you are younger or middle-aged.

In most cases, a will is not written just once and then left alone until your passing. Your will should be updated when necessary to keep in line with your lifestyle and situation.

For example, you might have created a will before you had children. In that case, you should update your will to add your children (if you so choose) so that they can be included in your asset distribution once you have passed. You would also want to update a will when you have children in order to name a new guardian(s) for them.

If you’ve already created a will, revisit it once every so often to ensure it reflects your current life (kids, assets, family situation, and so on). If you haven’t already created a will, it may be time to get the ball rolling.

How NWA and LegalWills.ca Can Help

New World Agency can help regardless of if you have a will currently or if you do not have one. LegalWills.ca is a simple, quick, and convenient online solution for creating a will.

What are the best features of LegalWills.ca?

It is lawyer approved.

Easy to follow steps.

No overly complicated legal jargon.

Assistance is there when you need it

It saves you money.

Updates can be made at any time at no additional cost.

What services/products does LegalWills.ca provide?

Ability to write your will.

Life Locker (allows for storing personal information).

Ability to upload important files

You can add your wishes for your funeral.

Preferences for organ donation.

Power of Attorney.

And much more!

Ready to get started?