To ensure that your wishes are upheld in the future, it’s critical to plan ahead with essential documents like a Will. It is a legally binding document that lays out the division of your assets after your death.
However, despite its importance, because of the nature of the topic, many avoid completing a Will. To help Canadians complete this important task, different companies such as Epilogue and Willful, offer simplified ways to create a basic estate plan.
In this article, we delve into the specifics of Wills themselves and compare these two popular services.
Willful vs. Epilogue: A Comparison
| Willful | Epilogue | |
| Plans | – Legal Essentials – Premium Coverage – Premium x 2 | – Will Only – Will + Incapacity Documents |
| Packages Offered | – Last Will and Testament – Power of Attorney for Property – Power of Attorney for Healthcare – Asset list to support loved ones | – Last Will and Testament – Power of Attorney for Property – Power of Attorney for Personal Care |
| Name a Trust Company as Executor? | No | Yes |
| Benefits | – Budget-friendly option – Focus on efficiency – Unlimited updates | – Comprehensive services – Detailed estate needs – Lawyer-quality documents – Unlimited free update – Printing service |
| Availability | – Across Canada** | – British Columbia – Alberta – Saskatchewan – Manitoba – Ontario – New Brunswick – Nova Scotia – P.E.I – Newfoundland |
** In Quebec, you can only purchase the legal will from Willful due to certain legislative changes.
Who Is Epilogue?
Epilogue is an online Will platform in Canada founded by two experienced estate lawyers. Epilogue offers lawyer-quality estate documents with modern, simple, and affordable solutions.
With Epilogue, individuals can complete their estate planning in as little as 20 minutes and from the comfort of their own homes (and without any legal jargon). Plus, they offer support via email, phone, and live chat, to answer any questions that come up along the way.
Use code LOANSCANADA20 to receive $20 off the price of a Will.
Epilogue Plans
They offer two comprehensive packages for individuals and couples: Will Only and Will + Powers of Attorney. The more robust plan includes the three essential documents for estate planning: the Last Will and Testament, Power of Attorney for Personal Care, and Power of Attorney for Property (the Power of Attorney documents can have different names depending on the province).
Will Only ($139 individual, $269 couples)
This package allows you to plan your estate through the allocation of property, identify caregivers for minor children, and plan any inheritance. Each package comes with a Funeral and Burial Wishes document, an Affidavit of Execution document, and detailed signing instructions. The service enables you to make an infinite number of changes free of charge.
Will & Powers Of Attorney ($199 individual, $329 couples)
This plan offers all the benefits of the more basic counterpart, with the other two documents necessary in the event of incapacitation. One Power of Attorney is for health-related decisions, while the other is focused on financial matters. These documents are where you name a substitute decision-maker should you ever be incapable of making decisions for yourself.
Learn more: Epilogue: Review
Epilogue Main Features
Meant to remain efficient without losing sight of the specifics, this company is popular for the quality of its Wills. Many Wills have to go through the probate process, so it’s extremely important that a Will offers comprehensive protection and can hold up in court, and Epilogue prides itself in this regard. It has several benefits, including:
Name A Professional Trust Company As Executor
Epilogue is the first and only Canadian online Will platform that provides individuals with the option to name a professional trust company as the executor of their Will. Epilogue works with RBC Royal Trust to make this process possible, but there is no need to be a customer of RBC to take advantage.
| What is an Executor of a Will? The job of an executor is to ensure that all instructions in your Will are executed properly, administer your estate, and make sure all your affairs are in order. Some individuals may not wish to place this burden on a family member or friends, this is where naming a professional trust company as executor is a great option. |
Legal Documents
Should you become unable to care for yourself, Epilogue offers incapacity documents and Last Will and Testament services. It offers Powers of Attorney for both healthcare and financial affairs.
These documents come into effect should you become unable to care for yourself. Paired with the Will, these three documents are the trifecta of estate planning. It’s also the only solution that includes an Affidavit of Execution document with each Will printout.
Separate Funeral and Burial Wishes Document
Epilogue includes a separate document with each Will printout where you can include your funeral and burial wishes for free.
Affidavit of Execution Document
An affidavit is a document that is signed by one of your witnesses in front of a Commissioner of taking affidavits. It’s used to confirm the validity of the Will. Each Epilogue Will comes with an Affidavit of Execution document for free.
Pet Coverage
Epilogue allows you to add a pet clause to your Will so that you can choose who will take care of your pet after you pass. If you’re interested in learning more about how you can plan for your pet’s care after you pass, check out Epilogue’s site here.
Gift Planning
For those who wish to add one or more charities as beneficiaries in their Will, Epilogue offers this option. Charitable donations can be either a percentage of your estate or a set cash amount.
Who Is Willful?
Willful is a company founded on the idea that Wills should be simple and accessible. It is a DIY platform that itemizes the planning procedure. The structured method streamlines the process and removes the risk of confusion. It takes roughly half an hour to complete a Last Will and Testament, and a Power of Attorney.
Willful Plans
Willful has three main plans designed to accommodate various budgets and family sizes. These include:
Legal Essentials ($99)
This plan is ideal for a single individual who wants a basic Will without Power of Attorney. It lets you indicate what happens to your assets, including property allocation. You can declare beneficiaries and your executor. It gives room to declare your final wishes, structure an inheritance, and plan for your children’s futures.
Premium Coverage ($189)
Though it is a bit more expensive than the basic package, this allows you to generate a Power of Attorney for both health care and financial assets. It lets you do all of the Will planning from the Essentials package, but also plan for medical issues or incapacitation.
Unlike other arrangements, this option is ideal if the beneficiaries are not your spouse. It has more nuanced planning features and offers an extra two documents for a reasonable price.
Premium x 2 ($329)
This option offers all the services of the Premium package, times two. Ideal for couples, friends, family, or any group of people, it is cost-effective without foregoing quality.
When you use this plan, it lets both spouses mirror each other’s documents. It saves time and reduces complications.
Learn more: Willful Review
Willful Main Features
This digitally hosted platform has an intuitive interface and is a good, modern option. From the website to the step-by-step approach, it is designed for speed without sacrificing quality. Among its features are:
Pet Coverage
A feature of this service is the opportunity to specify your wishes for pets. It allows you to allocate funds to their care, along with declaring a legal guardian for the animal.
Philanthropic Options
Though, if you have a large sum to leave to the charity you are likely to use a more comprehensive estate planning service, it’s still a nice feature. It lets you allocate a certain amount of money to a charity of your choosing. The service also lets you set aside a percentage for estate residuals. With that measure, even if it’s one percent, you can continue to contribute to a cause after death.
Epilogue Benefits
- Unlimited Updates – If you need to change your Will or Powers of Attorney documents, you can do so free of charge as many times as you need.
- Flexible Payment Options – Epilogue has many flexible payment options. Choose how you want to pay.
- Online – You can complete the process of creating a Will quickly and completely online. It lets you complete a simple series of documents within less than half an hour. Plus, it has in-depth instructions to help add clarity to the process.
- Printing Service – Once Epilogue has generated your Will, you can ask them to send you a physical copy by mail for an additional fee. In almost all provinces in Canada, Wills must be printed in a physical form and witnessed in order to be legally binding.
Willful Benefits
- Online Process – Secure and speedy, Willful is a strictly digital platform. There is no in-person interaction. One of its main selling features is that you can get your Will completed in less than half an hour from the comfort of your home.
- Unlimited Changes – All users get free, unlimited access to update their documents. Your Last Will and Testament should be updated with any major changes in your estate. From marriages to divorces, children to real estate legislation, there are many reasons you may need to tweak your Will.
What Is A Will?
A Will is a document that lays out the division of your assets after your death. It indicates who is responsible for distributing the assets and managing payments, the executor. Though it is impossible to foresee the specifics of what can happen after your death, having a Will is a key safeguard.
Known as a Last Will and Testament, it is a legally-binding document that goes into specifics of your wishes. These range from appointing an executor, naming a guardian for your minor children or pets, and deciding how your assets will be distributed.
What Happens If You Die Without A Will?
If you die without a proper Will, there is nothing to indicate your wishes, leaving your estate vulnerable to the intestacy laws of your province or territory and potential familial issues. Failing to generate a Will results in decisions made by the courts, rather than your loved ones, which may be different from what you would have wanted. Though there are processes in place to ensure that your debts get paid and the estate distributed, these are standardized approaches, not specific to you.
Without a Will, the loved ones you leave behind are left with almost impossible decisions that a Will would have otherwise managed. Especially if you consider the state of bereavement for your loved ones after your death, necessary choices may not get the required attention. To prevent this, make sure you have a Will in place that names a trustworthy executor and mitigates potential probate issues for those you care about.
Learn more: 5 Important Reasons You Need A Will In Canada
Final Notes
Using an online Will creation service ensures that you have an effective document to represent your true wishes. Legally binding, it’s surprisingly simple and affordable to make a Will and get a Power of Attorney online. The key is taking the leap and having these documents on record.
Whichever service you use, the most important thing is having the documents in place. With that task done, you can move on with real peace of mind.
