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.
| DIGITAL WILL | CONVENTIONAL WILL | |
|---|---|---|
| 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?