The Province of BC made this proclamation to encourage residents who don’t have a Will to create one to ensure their final wishes are clear and carried out after their death.
A survey conducted province-wide just a year ago by Mustel Group for The Society of Notaries Public of BC found that only 55% of British Columbian adults have a current and legal Will, and people under 54 are the least likely to have one. The March 2014 omnibus telephone poll of 502 adults in BC found that 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.
There are five reasons people under 50 should create a legal Will.
1. Do you have dependant children?
A Will enables you to designate who would care for your dependent children if you die This is particularly important for single parents or blended families where the law may not align with your wishes. If you don’t designate custody, the decision may be made by a stranger through the court system
2. Are you a homeowner?
If you share ownership of your home with a partner or others, it’s important to understand how you own property. There are various ways shared ownership can be structured, and that structure impacts what happens to the ownership of your home if you die. We can do a title search for you and discuss the various options available to ensure your wishes are possible, and your Will is clear.
3. Are you separated, divorced or living in a common-law relationship?
Creating a Will, and ensuring all your documents are up-to-date is very important for the many people whose relationship status has changed. This will ensure that your assets are divided or assigned as you currently wish them to be.
4. Do you have pets?
For many British Columbians, pets are family. Many people want to ensure their pets will continue to be cared for as they as they are now, even or especially if something were to happen to them. A Will came designate those provisions.
5. Peace of mind
Life is stressful enough. Creating a Will gives you and your family peace of mind that those your assets will go to those you love, and your wishes will be followed. For most people creating a Will takes only one or two short visits at our office, and gives you confidence in your and your family’s future.