Do you have a will?
If so you are smarter than 45% of Canadians.
I once spoke with a woman who was very passionate about the importance of having a will and power of attorney. The reason she was so passionate about it was a sad story…
She was a stay at home mom, her husband worked full time and supported the family.
One day on his way home from work he was in a terrible car accident and ended up in a coma for months.
While he was in the coma she had no access to the accounts, her name wasn’t on the mortgage so they would not allow her to make changes and she had no income. What happened…you guessed it. She lost everything, not only was she watching her husband fail in front of her eyes but she was losing everything and could do nothing about it.
Statistics show that over 50% of Canadians do not have a will or power of attorney.
Don’t let yourself get caught. Protect yourself and your family. It doesn’t even have to be fancy, it can be a simple will kit that you can purchase from Staples or Amazon. If you aren’t comfortable doing it yourself then contact a lawyer or notary to draw one up for you. If you are letting fear or the expense hold you might have some money behaviours and patterns that need changed. Read more about how to overcome fear & money.
Now it isn’t the most pleasant thing to sit down and think about yourself dying and your belongings being given away so make sure to have a classic Disney movie ready for when you are done!