A legal will is one of the most forgotten personal finance planning requirements. It is surprising how many Canadians are without a current and enforceable will. Many who do not have a will believe it is too complex and expensive or has never heard of creating a legal online will in Canada.
Epilogue is changing these common misperceptions. This growing online platform makes drafting, reviewing, and executing a legal will easy. And you can create it in your own home at a fraction of the traditional cost of an attorney.
Disclaimer: Epilogue does not provide legal or professional advice, such as accounting or tax advice.
An overview of Epilogue
Epilogue is a legal technology platform that provides the simplest and most affordable way to create an online will in Canada. It streamlines legal processes and helps you create, edit, and store your will and other select legal documents in one digital location. From start to finish, you can create a will in just 20 minutes using this encrypted and safe platform—without ever leaving the comfort of your home or stepping into a lawyer’s office.
Epilogue is not a document-writing company but rather online software allowing users to create and store documents in the cloud. Besides wills, they also offer assistance with documents such as an enduring Power of Attorney for Property and Personal Care and a Social Media Will.
Founded by two former estate planning lawyers, Epilogue online wills aims to make will creation accessible and achievable to every Canadian. The process can occur anywhere there is internet connectivity since it is done online rather than in person.
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The cost of an Epilogue online will in Canada
The best thing about creating an online will with Epilogue is that you have a digital or printed copy at a fraction of the cost of an attorney. The platform provides a simple, affordable way to develop and memorialize a legal estate plan.
An Individual Will is $139, while a Couple’s Will costs $269. Epilogue also provides a package that includes Powers of Attorney and a Will, priced at $199 per Individual and $329 per Couple, respectively.
Epilogue's featured benefits
Every adult Canadian should have a will. You should update your will annually. Unfortunately, most people put off creating a will until it’s too late. With Epilogue, creating and managing estate planning documents is a breeze. What are the benefits?
- Convenience: You can create or update your will in the comfort of your home. You don’t need an attorney.
- Speed: When your build your will with Epilogue, it contains the appropriate content and is legally binding—with a perfect output in as little as 20 minutes.
- Affordability: Epilogue allows you to create a legal will in Canada with the click of a button, reducing the cost to a fraction of what you’d spend using a lawyer.
- Expertise: Two estate planning lawyers founded the company. This experience gives users confidence in the accuracy and security of the information they provide offline customers.
- Amendable: Epilogue can help you create an online will, power of attorney, and other documents you can modify or amend. In addition, you can log into their dashboard and update your records.
- Availability: As Canada’s leading online Wills provider, Epilogue proudly serves the provinces of Alberta, British Columbia, Manitoba, Ontario, New Brunswick, Newfoundland & Labrador, Nova Scotia, Saskatchewan, and Prince Edward Island.
Eligibility for an online will in Canada
Anyone in the English-speaking provinces of Canada can use Epilogue’s platform. However, these audiences should specifically consider creating a will using Epilogue.
Really? Create a will in your twenties? YES! Regardless of age, your estate plan is essential to you and your family. All adults, regardless of age, are eligible to create an online will—even in their teenage years. Organizing and protecting your assets and property at a young age shows financial discipline.
In the unfortunate event of your passing, your family must know who should care for your pets. Having a will helps with planning your pet’s future. In addition, a will provides your family with instructions regarding your precious lifelong companions.
Couples and parents
Without question, every Couple and parent should have a legal will and power of attorney in place. With Epilogue, it is fast, simple, and inexpensive to create. Most importantly, it provides your friends and family immediate comfort from your affairs being in order. Whether you have significant assets when you pass on or need someone to care for your child, a will is probably the most important document you can create. Parents will also have peace of mind knowing their assets will pass to their children, immediately or in the future.
Epilogue online wills in Canada offers customers three major legal document creation options. Users can create a Will, Power of Attorney, and Social Media Will using the platform. The site walks users through a few simple questions, informing them of progress every step of the way. Upon completion, they or their family members will have documents that save them from dealing with legal jargon or extraneous information.
A will is an important document outlining your estate’s administration and distribution after you die. Creating a will could mean the difference between a hassle-free distribution of your estate or additional burden and undue stress for your family. With an Epilogue online will in Canada, you can be sure your final wishes will be honoured by family and friends and the governing laws of Canada and your province.
In your will, you decide the location of your burial or cremation, service type, details about organ donations, and any other last wishes you have. Most importantly, a will determines how you disburse your assets and personal possessions. It’s a no-hassle way to plan and care for your family’s most important members.
Power of attorney
Users can create a Power of Attorney for Property or Personal Care. A Power of Attorney for Property allows you to name the person as an agent to act on your estate if you’re incapacitated. Creating, reviewing, and updating your Power of Attorney for Property is crucial, given relationships or details may change over time.
Meanwhile, a Power of Attorney for Personal Care helps name a person who can make any decisions if you cannot, such as choosing a place to live and a medical treatment method.
Combined, these two Powers of Attorney ensure your interests and family members are in good financial hands in tough times.
Social media will
Epilogue also allows you to create a Social Media Will for free. This service is for anyone who wants a specific party to manage their online presence if they pass away. Epilogue’s experts help you plan for and create a legal document that includes all your social network profiles. In addition, it provides instructions to your family members or friends regarding how to maintain or close out the profiles upon your death.
The importance of having a legal will
For most, hearing about or discussing a will is uncomfortable. This is because wills remind Canadians of their mortality. However, you should never view a will negatively. Instead, think of a will as another essential part of your overall financial plan that outlines your final wishes in written or digital form. A will takes care of the ones you love even after you are gone.
A will is a road map for your family, guiding them through a complicated time. It helps ensure your loved ones aren’t burdened with outstanding debts and that life insurance policies, bank accounts, investments, and other financial and non-financial matters are given attention. In our opinion, there is nothing better you can do for your family and friends in preparation for the unexpected.
Intestacy Policy in Canada
As an individual, you likely own assets in several classes. These assets might include property, financial assets such as stocks and bonds, vehicles, etc. However, if something happens to you and you don’t have a will in place, or the will is invalid, the government may determine how to distribute your estate. This process could cause unnecessary strain for your loved ones during an already-tough time.
Prepare a legal online will in Canada with Epilogue. A properly drafted will ensure the distribution of your assets according to your wishes.
Epilogue is the best choice for creating an online will in Canada. Besides Epilogues featured benefits above, they are an emerging leader in this industry. Epilogue continues to help over a million Canadians easily create a legal estate plan so they have peace of mind knowing they are prepared for the future.
Creditpicks is always looking for novel ways for Canadians to enhance their financial well-being. And having a functional legal will is just one way of doing that. Subscribe to our site for free access to your TransUnion credit report for one year, our Your Personal Finance Guide 2023-2024 e-book, and more helpful money tips delivered directly to your inbox!