If your answer is no, you are not alone. In fact, 56% of Canadian adults don't have a Will. 29% of those who do not have a Will say it’s because they either don’t know how to get started or believe they can’t afford one.
Did you know that dying without a Will means the government will decide how your estate will be passed on according to the law, rather than according to your own wishes? Also, they’ll charge your estate to do so. Wouldn’t you rather make your own decisions?
Why you should have a Will
A Will ensures you can make those important decisions about your estate including who will receive benefits from assets such as your property, home, car, insurance policy, RRSPs, etc.
- Having a valid, up-to-date Will ensures that you determine who gets what from your hard-earned assets after you are gone, and who will administer your estate
- Writing a Will is especially important if you have children or dependents, or if you want to leave something to organisations or people outside your immediate family
- A Will can help reduce inheritance taxes for you and your estate – leaving money to charity being an excellent way to do so.
- A Will makes it much easier for family or friends to sort out your wishes when you die – without a Will, this is likely to be more time consuming and stressful
Consider EALT in your Will
Even a small amount can make a massive difference to our work. By including EALT in you Will, you can create a conservation
Options for Donating to EALT in you Will
- Residue of Estate: You may offer the residue of your estate to EALT, that is, any funds that remain after all bills have been settled and inheritances have been allocated. This allows any obligations to be met with the remainder (or a portion) going to support EALT.
- "Charity Child" or Percentage Gift: Leave a percentage of your estate to EALT, or structure your Will with a "charity child". For example, if you have three children, divide your estate into four portions, with three portions going to your children, and the fourth to EALT.
- Fixed Amount: Donate a fixed amount so that you know exactly how much you are donating.
- Other Bequests: Donating securities, life insurance or RRSPs is another excellent way to support EALT. Check with your financial planner or the Edmonton Community Foundation for further information.