Epilogue Wills Review: Creating A Legal Will Online Made Simple
This post may contain affiliate links, which means we may receive a commission, at no extra cost to you, if you make a purchase through a link. Please see our full disclosure for further information.Wills are legal documents that specify how your assets should be distributed after you pass away. A Will is a legal document that allows you to decide who will inherit your property and how they will receive it. Furthermore, it enables you to name guardians for your minor children and pets. It ensures that the right people take care of any dependents you might have left behind when you pass away..
There are many frequently asked questions about Wills, so today, I will answer some of these questions.
Why Every Adult Needs A Will?
Anyone with children, property, or both should have a Will. It should also be updated every 3 to 5 years after it has been written and signed to make sure that it still accurately reflects your life and wishes. With that, it may be modified according to any life changes, such as marriage, having children, a family member pass away, getting divorced, and buying property.
A Will is a legal document that outlines your wishes regarding the care of your children and the distribution of your assets after you pass away. Absence of a Will generally results in family conflict and leaves choices regarding your assets up to the province where you live.
About Epilogue?
Epilogue was founded by two experienced estate planning lawyers based in Toronto. The company supports customers not just throughout the Will-writing process but also after the Will has been written.
You can create a Will using Epilogue in about 20 minutes without leaving the comfort of your home or visiting a law office. Epilogue avoids legal jargon and walks you through the entire procedure in a comfortable manner because it wants to make estate planning as simple as possible. Simply answer a series of questions, wait a few seconds for the Will to be generated automatically, pay, print, (or have the documents printed and delivered to you for a fee), sign the Will in accordance with the signing instructions included with your Will, and you’re done!
Product and Program Details
Making Wills and incapacity planning documents (like Powers of Attorney) on the Epilogue platform is easy.
Along with the Will, Epilogue also allows people to record wishes for funeral and burial. . This document can be shared with family members, friends and your executor to let them know your preference. Also, you can let them know about your desires regarding organ donation.
A free Social Media Will was also made available to all individuals in April 2021. Epilogue is the only online estate planning platform to offer a free Social Media Will to help you protect your social media and online legacy.
Epilogue announced a new relationship with RBC in November 2021. Marking a new milestone will give Epilogue the chance to educate millions of Canadians on estate planning.
What’s the Difference Between Will only and Will + Power of Attorney
A Will sets out what should happen after you pass away. A Power of Attorney, on the other hand, sets out what should happen during any period when you are alive but incapable of making decisions for yourself.
Two types of Power of Attorney exist. One deals with your personal care and healthcare, and the other deals with managing your property and finances.
Epilogue: The Easiest Way to make a Will
One of the easiest ways to create Wills in Canada is through Epilogue which is a straightforward, quick, and economical way where you can complete the process online.
With the help of Epilogue, anybody can create a legally binding Will in about 20 minutes.
Prices for a simple Will start at $139+tx for singles and $269+tx for couples.
Pros
- Unlimited free updates
- User-friendly
- Excellent customer service
- Includes provisions for RESP’s
- Peace of mind
- Available in the following provinces: Alberta, British Columbia, Manitoba, New Brunswick, Newfoundland and Labrador, Nova Scotia, Ontario, Saskatchewan and PEl
- Epilogue is the first (and only) online Will platform in Canada that can help someone name a professional trust company as the executor of their Will.
Cons
- Not ideal for complex financial situations
- No legal advice
- Not yet available in Quebec or the Territories.
How much does it cost?
While a Will created by a lawyer might run you up to nearly $700, Epilogue has simplified the procedure to be far less expensive.
Will Only
If you get a Will only, you will pay $139+tx per individual or $269+tx per couple. After the payment, you will receive your customized Will and have an opportunity to record your funeral and burial wishes (as a separate document).
Will + Power of Attorney
On the other hand, with Will + Power of Attorney, you will pay $199+tx per individual or $329+tx per couple. All features of the Will Only version are included in this version. In addition, you can appoint someone to make decisions on your behalfif you are unable to do so.
On top of that, you can make an unlimited number of updates in the future at no additional cost.
Epilogue Key Features
Here are some of Epilogue’s standout features:
Online. Create a Will online in as quick as 20 minutes! So, no need to leave your house and visit a lawyer’s office to get a Will for you. Also, Epilogue’s website is well designed and user-friendly. Prompts guide you through each process step, and you can save and go back to where you stopped at any point.
In addition, Epilogue’s process is designed by two experienced estate planning lawyers. It also offers you a variety of options to fit your needs.
In terms of pricing, Epilogue is affordable. It costs hundreds (or even thousands) of dollars less than creating a Will in person with a traditional lawyer.
Ready to Create a Will?
Go to Epilogue’s website, click “start my Will” on the home page, and then follow the instructions. You will need to answer a series of questions, and provide details on the province where you live, if you have a partner/spouse, if you have pets, etc.You will choose if you want to only complete a Will, or to get the package that has a Will and Powers of Attorney. You also need to fill in other information like how you want to distribute and divide your money, belongings, and other assets.
When done, review your documents and pay. Follow the detailed instructions for signing the documents after printing them out. After that, you will have a legally binding Will and Power of Attorney.
Epilogue does not store signed copies of the documents, so you don’t have to return them. You must ensure they are kept safely and let others know where they can be found. An original copy of your Will should be kept in a secure location thatis known to and accessible by your executor. I recommend keeping your Will in a fireproof box at home. Avoid exposing it to anything that can damage the paper and ink, such as rain or direct sunlight.
You’ve made the most important financial decision of your life. Now, have you thought about protecting your family with a life insurance policy? Wills are important, but they don’t replace the need for life insurance. This is one of the most affordable ways to protect your family and ensure they are financially secure. I recommend that everyone have at least some level of term life insurance protection in place. Life insurance is a vital protection for your family’s financial health and well-being if you were no longer there to provide for them. Protect your loved ones with a plan that can give you comfort and peace of mind.
PolicyMe life insurance helps Canadian families get personalized advice, so that they’re able to cover the costs of living by getting lower priced insurance policies than the market offers. Did I mention that every term life policy includes Child Coverage at no extra cost? Amazing right? Canadians can now protect their families for the same high-quality coverage at an affordable cost without breaking the bank.
Do You Need a Lawyer to Prepare a Will?
You are not required by Canadian law to create your Will with a lawyer or notary. If you require legal assistance, a lawyercan help, although many people have uncomplicated estates that do not require legal advice. You may follow instructions from websites like Epilogue to create your legal documents to suit your wishes and needs.
A Will must meet a number of requirements in order to be valid, including:
- You must sign it in front of 2 witnesses who must also sign it.
- You must be mentally competent to write a Will
- It must be documented physically in writing.
If your estate is more complicated, such as when you have assets overseas or for blended families, it may be wise to have a lawyer create your Will.
In Canada, a significant percentage of adults don’t have a legal Will. Due to how difficult, costly, and time-consuming making a Will is, many people decide not to do so. Almost everybody avoids thinking about their own death, but with the help of Epilogue Wills, estate preparation may be as easy, affordable, and painless as possible
I believe Epilogue is the best option available for Canadians wishing to create a legal Will. For those who want to make sure that the estate planning process goes well, Epilogue is a great resource. Making an Online Will with Epilogue is a simple procedure that offers you all the security and comfort of a traditional Will at a fraction of the price.
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