Doing Your Estate Planning Online May Not Be Bright for You

Planning your will and estate for your loved ones is, in most cases, too important to leave to an online provider. I explain why in this post.

Part of this first sentence is the subtitle of my 2007 book, Estate to the Heart: How to Plan Wills and Estates for Your Loved Ones*.

But don’t email me requesting to buy this 2007 book. It is not for sale as it does not cover substantial changes in Ontario estate procedure and taxes.

Too often people focus only on avoiding Ontario probate tax. They do this blindly, often without legal advice. Sometimes they put children on title to their property. This creates problems including income tax liability, potential claims from children’s spouses or partners, creditor claims and a loss of control over assets.

The Heart and Soul of Your Estate Plan

Some people are afraid of lawyers. They do not want to talk about complex federal income tax issues in estate planning. They are more concerned about Delilah’s inability to handle money or Dave’s substance abuse disorder. They need personal answers. This requires advice on their options from experienced estate lawyers. Most people need confidential advice about how trusts work. They may not trust relatives as possible estate trustees. It is personal. Advice like this is not available from an online service.

I edit and update a nationally published estate manual. I review new cases on estates and estate administration for lawyers and clients. These court decisions change estate laws and how courts interpret them. Estate lawyers must keep up with the changes. Online will providers may not update software or make timely changes. Instead, you should find lawyers with the knowledge and experience you need.

It may be tempting to make your wills online. But be careful – you may be missing the benefits of seeing an estate planning lawyer in person. They can answer your difficult questions that a chatbot cannot.

There are many reasons to invest in a lawyer-prepared will and estate plan. Getting professional advice from an experienced estate lawyer may be your best investment. Make this investment to protect yourself, your loved ones and your assets.

Need help reaching your estate planning goals? Make sure your family benefits from professional wills and estate planning. I can help. Contact me for a meeting to discuss your questions and options.

I am an Estates & Trusts Specialist, certified by the Law Society of Ontario.

*Estate to the Heart – How to Plan Wills and Estates for Your Loved Ones by Edward Olkovich