Only 51% of British Columbians have a current and legal will, according to a province-wide poll conducted by Mustel Group for The Society of Notaries Public of BC.
"Many people are making New Year's resolutions to exercise more, pay off debt or spend more time with family in 2012. Preparing a will is another important and positive commitment," Wayne Braid, chief executive officer of the BC Notaries, said in a press release. "These are all worthy and important initiatives to enhance our own lives and the lives of those we love."
The Mustel Group telephone poll was conducted in November 2010 among 502 adults in BC. It found that 15% of people in the 18-to-34 age range, 49% between 35 and 54, and 80% of individuals 55 and older have a will in place.
According to BC Notaries, a properly executed will creates certainty of your intentions for the distribution of assets and personal effects and the guardianship of minor children. It designates who is responsible for carrying out your wishes (an executor) and covers other vital details such as funeral arrangements.
"When a person dies without a will, any one of the heirs may apply to the court to administer the estate," said John Eastwood, President of BC Notaries and a Notary Public.. "If the other heirs do not agree with this appointment or if no one steps up to do it, by law the office of the BC Public Guardian and Trustee must manage the estate and charge a fee for the work. Some people face years of financial expense and time to unravel a loved one's finances. To those left behind to handle the paperwork, a will is priceless."
According to the press release, a good way to start the process of writing a will is to identify a legal professional - lawyer or notary public - to assist you to prepare a legal will to serve your needs.
For more information, visit notaries.bc.ca.
