The answer to that question is an emphatic NO. Now I will explain why.
I’ll first start by explaining what a Will is. A Will is simply a legal document that states what you want done with the things you own (your “estate”) after you die. It’s important to make a Will, no matter what your age is, because it lets you make your own decisions and gives you control over your estate in the event that you pass away. Even if you don’t have much, you can still control who gets things that have sentimental value.
Another very important feature of a Will is that you can appoint a guardian who can step in to take care of your minor children in the event of your death (and where there is no other suitable parent who can take on that responsibility).
If you die without a will, or “intestate”, your estate will be divided according to the Intestate Succession Act in Nova Scotia. This may mean that your possessions may not go to the people that you want. For example, in Nova Scotia, your common law spouse can be left receiving nothing unless you have registered as a Domestic Partnership. Without a Will, this may lead to confusion, conflict for your family members, and/or conflict in the courts. Having a Will helps ensure that the things you own go to the people that you want to have them, rather than what’s set out in the legislation.
There are legal requirements that must be met in order for a Will to be considered valid. If you hire a lawyer to create your Will, their job is to ensure the legal requirements are met. The cost of having a Will written can vary from lawyer to lawyer. The cost may be less than you think. The firm I work with currently charges less than $400 CAN (tax included) to create a single Will.
Having Will can give you peace of mind and also help to lessen conflict amongst family members after your death, because YOUR wishes are clearly documented. There is no age limit on such peace of mind.
Kristen O’Keefe is an Associate Lawyer with Kennedy Schofield Lawyers. Articles posted on this blog are meant to offer general information and should not be relied upon as legal advice. For advice on your specific matter, contact Kristen or any of our lawyers at 902-826-9140.