Make a New Year’s Resolution to Create a Will in 2015
Almost Half of BC Adults Do Not Have a Will
According to BC Notaries’ Poll
December 18, 2014
Vancouver, BC – Only 55% of British Columbians have a current and legal Will, according to a province-wide poll conducted by Mustel Group for The Society of Notaries Public of BC.
“The end of the year, after visiting with family and friends during the holiday season, is a good time to reflect, take stock and make a list of things we want to do in the following year,” says Wayne Braid, CEO of The Society of Notaries Public of BC. “Some of us make New Year’s Resolutions and some set goals. Either way, it’s the perfect time to review our financial situation and related plans.”
The Mustel Group conducted an omnibus telephone poll in March 2014 among 502 adults in BC. It found that only 20% of people in the 18-to-34 age range, 51% between 35 and 54, and 83% of individuals 55+ have a Will in place.
On March 31, 2014, the new provincial Wills, Estate and Succession Act (WESA) came into effect, streamlining seven acts into one. This provides greater certainty for individuals who put their last wishes into writing, and clarifies the process for distributing estates where there is no Will. With these changes, those who have a Will written before March 31, 2014 may wish to review it with a Notary or lawyer to make sure their wishes can be upheld.
“BC Notaries have extensive training and specialization in Will preparation to help British Columbians establish well considered and legally prepared Wills,” says Akash Sablok, President of BC Notaries and a Notary in East Vancouver. “A Will is the best way to ensure that the people, charities or non-profit organizations you care about receive the benefit of your estate.”
If there is no Will in place, or the Will is not properly prepared, an estate may not be distributed as the deceased intended.