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NATIONAL PULSE – Half of Canadian adults say they don’t have a will

One-quarter of Canadians without a will in place
say they are too young to worry about it

By ANGUS REID INSTITUTE

January 23, 2018 – When the world learned that Prince, an artist whose estate was worth an estimated $300 million, died without a will in place, it caught many by surprise.

A slight majority of Canadians share at least one thing in common with the pop legend: a lack of estate-planning.

A new Angus Reid Institute poll finds that half of Canadians (51 per cent) say they have no last will and testament in place, while only one-third (35 per cent) say they have one that is up to date. In other words, half of Canadians are set to have no say in what happens to their assets should they die, and nearly one-in-six have wills, but haven’t kept them up to date.

Why are Canadians putting off estate-planning?

A significant number say the reason they haven’t written a will is that they’re “too young” to worry about it (25 per cent), and almost as many say they don’t have enough assets to make a will worthwhile (23 per cent).

How many Canadians have a Will

More Key Findings:

  • Older Canadians (those ages 55-plus) are nearly four times as likely as the youngest cohort (18-34) and twice as likely 35-54-year-olds to say they have an up-to-date will in place (58 per cent compared to 15 per cent and 29 per cent, respectively)
  • Quebec and British Columbia are the only provinces in Canada where a majority of people say they have a will in place (58 per cent in Quebec and 54 per cent in British Columbia)
  • Women are noticeably less likely than men to say they have a will in place (46 per cent versus 53 per cent) and are nearly twice as likely to point to the legal costs associated with writing one as the main reason why

Link to the poll here: www.angusreid.org/will-and-testament

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About Mel Rothenburger (5688 Articles)
ArmchairMayor.ca is a forum about Kamloops and the world. It has more than one million views. Mel Rothenburger is the former Editor of The Daily News in Kamloops, B.C. (retiring in 2012), and past mayor of Kamloops (1999-2005). At ArmchairMayor.ca he is the publisher, editor, news editor, city editor, reporter, webmaster, and just about anything else you can think of. He is grateful for the contributions of several local columnists. This blog doesn't require a subscription but gratefully accepts donations to help defray costs.

2 Comments on NATIONAL PULSE – Half of Canadian adults say they don’t have a will

  1. Lorraine Winter // January 24, 2018 at 11:50 AM // Reply

    Interesting. As one of the 15%, I will get to work tomorrow to become one of the 35%. I’m not one of the 1% so whatever I do tomorrow won’t matter that much.

  2. A will is the easy part .Once that is done (for as little as $300) you must have an executor.good luck with that one.Without an executor the gov’t will appoint someone from gov’t or a law office and they are interested in making as much money for themselves as possible.
    A proper executor must know you and your goals for your will so that he/she can dispose of your estate in the fashion that you have pictured.Otherwise your first spouse or a disenfranchised third cousin ( Whom you never met ) may end up as the principle benefactor.
    It’s every bit as important as a will if you care about where your estate goes.
    Don’t wait! Do it today.Accidents can happen any time.

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