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Your Family

October 18, 2022

Where there’s a will, there’s a way

When it comes to drafting a will, most Canadians know this important piece of documentation is a must-have – especially for parents of young children – but many still don’t have one.

Not entirely surprising. Drafting a will is not only tedious, but it can be an expensive undertaking.

For members of Serenia Life Financial, this doesn’t have to be the case. We’ve got – not one – but two benefits that will help you take care of your assets, your children, and, yes, the cost: the digital option (through our partner, Willful®) and the conventional route (hiring a lawyer).

There are pros and cons (mainly pros) to both options, so we thought we’d break it down for you – to help you make the right decision for your unique needs.

What sort of service can I expect?You'll need to answer a series of personalized questions and will be able to draft your legally valid will online in less than 20 minutes.You'll be working one-on-one with a lawyer who can answer any questions you might have, guide you, and help you gather all of the necessary documentation.
Who is this for?An online will is best for tech-savvy individuals with needs that are not considered ”complex” (e.g., property abroad, separated but not divorced, in need of legal advice, etc.).A conventional will is best for individuals with more complex needs, as well as those who aren't comfortable/experienced with going digital.
What will I pay?With Serenia Life Financial's member benefit, this one will cost you $0. (Value: $189)A lawyer's fee can range from $200 to $1,000+, but keep in mind that Serenia Life Financial will reimburse members up to $150 of the cost, every 5 years.
Will I need to fork out more cash in the future?No – and you can access your digital will to review and make updates at any time.Yes – if and when you want a lawyer to review or update your will. (But if you wait 5 years, we'll reimburse you for that $150 through our wills benefit again!)
What else do I need to consider?While this is an awesome tool for creating a will quickly and easily, we recommend reaching out to a lawyer to confirm that all your needs are met. (This will be an additional cost.)Even if you go the extra mile and pay to have a lawyer review your digital will, you will likely pay a little bit more if you choose the traditional route and hire a lawyer to draft it for you.

Well, there you have it. It all comes down to which option more closely meets your needs. But now that you know we’re covering a good chunk of the cost, why not get the ball rolling and start drafting your will today?

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A recent study has projected that close to 100,000 Canadians will be living with #dementia by 2030. On #WorldAlzheimersDay, we encourage members impacted by this disease to consider supporting @alzheimercanada via our Action Team benefit (value: $250). Apply to take action on our website! (link in bio)  #takeaction #actionteams #worldalzheimersday2023