Legal Will FAQ
Below you will find a list of frequently asked questions that we receive. Most of your general questions about making a Canadian Will through FormalWill.ca are addressed here. Please read this section carefully before starting your Will.
1. If I am married or have a family, can we simply use one joint Will for a couple or one Will per family?
No. Each individual person must have their own Legal Will. A joint Will will not be valid.
2. How much does it cost?
A Will through FormalWill.ca is offered at the low price of $59.00 (including tax).
3. Why should I go through FormalWill.ca to make a Will?
Many sites often charge their customers with hidden or extra fees and costs. With FormalWill.ca, you know exactly what you are getting and paying for. In developing FormalWill.ca, the site and process was reviewed by Canadian lawyers so you can be rest assured that you are getting a quality Will. FormalWill.ca does not provide legal advice and as such, you should consult a lawyer in your jurisdiction in the event that you are unsure if a Will from FormalWill.ca is adequate for your situation.
4. How do I receive my Legal Will?
Upon completion of the questionnaire and payment, your Will appears instantly on screen with a copy sent to you by email. You do not receive any documents via mail. If, for whatever reason, you do not receive your Will via email, simply log back into your account at www.formalwill.ca, and you can print your Will and instruction letter from there.
5. Is my will valid anywhere in Canada?
FormalWill.ca caters to individuals who live in all provinces and territories in Canada and Legal Wills are customized to be valid in each province or territory. FormalWill Inc. is a national Canadian company that specifically serves the needs of all Canadians.
6. Does a Will need to be notarized to be legally valid?
A Will does not have to be notarized to be legally valid. It is valid if signed correctly in the presence of witnesses as outlined in the signing letter you receive via email.
7. Does a Lawyer have to draw up a Will?
No. Wills can be drafted using a do-it-yourself service such as FormalWill.ca and are valid once signed following the instructions you receive from us with your Legal Will.
8. Does FormalWill use secure payment processing?
Yes. FormalWill.ca utilizes advanced security precautions to ensure that your transaction is safe and secure. Our payment processing is provided by PayPal, one of the world’s leading payment processors.
9. Do I have to file my Will with a local court office?
No. A Will produced by FormalWill.ca is valid once you have signed it and does not need to be filed with a court office. As with all Wills, upon death your executor may file your Will with the local court office for probate purposes.
10. What types of things are covered in a Will created using FormalWill?
When you create your Will using our proprietary and easy-to-use system, your Will includes:
- A clause revoking former Wills and testaments
- Specification of your city/town and province of jurisdiction
- Appointing an executor or person who will carry out the terms of your Will
- Appointing alternate executor(s)
- Specifying detailed duties and powers for your executor or person carrying out the terms of your Will
- Leaving specific gifts to specific individuals such as:
- Specific amount of money
- Household items
- RRSP, RRIF, TFSA
- Shares in private companies
- Primary Residence
- Secondary Residence (i.e. cottage)
- Other specific assets
- Leaving the residual estate to specified individuals
- Trust provisions allowing you to choose an age that minor children are entitled to receive their share of the estate
- Clause allowing your executor to make income tax decisions in the best interests of your estate
- Charity clause allowing you to leave specified gifts to a charitable organization
- Guardian clause allowing you to appoint a person to take care of a child who is a minor
- Clauses allowing the appointment of alternate guardian(s) to take care of a child who is a minor
- A detailed instruction letter on signing your Will with witnesses
11. Why do I need a Will?
A Will is perhaps the most important document you will ever sign. A Will grants power over who will receive your property, who will control your estate, and who may be the guardian of your children after your death. Without a Will, your assets could remain undistributed or go to people you would never have wanted to receive those assets. Furthermore, your family could spend years in court and incur significant legal fees in order to determine what your intentions were for your estate.
12. After I receive my Will, do I have to do anything for it to be valid?
Simply follow the signing information carefully and your Will is valid. You are not required to file or notarize your Will.
13. Once I have completed my Will, is there a charge for any changes I may want to make later on?
Once you have completed and paid for your Will, you cannot make any changes, unless you have purchased the Peace of Mind Bonus available during the Checkout stage. However, please carefully review all of your answers before paying.