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Tuesday, March 28th
FormalWill claims to be Canada's leader in online legal Wills. It was founded by a Canadian lawyer as a create-your-own Will site that caters to people wishing to create an inexpensive, legally-binding will from the comfort of their own home. The Wills are tailored to each province and territory in Canada, so you can rest assured knowing this platform is adaptable to your needs.
5 product choices
There are 5 products that FormalWill offers including a Will, Power of Attorney, Living Will, Pet Will, and lawyer network. Before starting any of these Wills, you can read through their FAQs to better know what to expect. To create your Will you'll need to make a free account with your email and password. Each Will is meant for one person, not a joint group of 2 or more people.
No skipping steps
It's easy to fill out the details of your Will since you're taken step-by-step through questions about your marital status, executor, beneficiaries, gifts, charitable donations, trusts, guardianship, and more. A progress bar will give you an idea of how long the entire process will take and you aren't allowed to move on to a new section until you've completely filled out all the necessary information. This way you don't have to worry about skipping any steps and omitting crucial details. Once it's completed, you'll receive your Will via email so you can print it out from home.
Reasonable base costs
The cost of your Will is only $59 including tax. This is a really reasonable price when compared to competitors. A Power of Attorney document is $39, a Living Will is $39, a Pet Will is $59, and the cost for a lawyer to review your Will is $149. So if you want to create your Will and have it checked by a lawyer to ensure it's accurate and meets the legal standards for your province, you'll actually be spending around $208.
One downside of FormalWill is that you aren't able to go back and make changes to your Will without paying an added fee. For $9.99 you could change your Will 1 time within the period of a year, for $14.99 you can make 2 changes within a period of 2 years, and for $24.99 you can make unlimited modifications to your Will within a 4-year period. They'll also try and upsell you on the other products they offer when you're checking out.
Lacking independent customer reviews
FormalWill has a Better Business Bureau (BBB) listing, but they aren't rated and no customers have left reviews, so it's not very insightful. The BBB has tried reaching out to the address listed for the company without success and it is unclear how long FormalWill has been in business. There have been some other companies that have recommended FormalWill as a safe and credible site, but we wish there was more unfiltered feedback from customers who have created their Wills there.
Not our first choice
Overall, we aren't wildly impressed with FormalWill. We tried not to let the cheesy graphics on FormalWill's website distract us from deciding if they are a good option. But, we also found their website to be slightly more wordy than their competitors', which can be overwhelming to people wanting to create a simple Will. Base prices for a Will are good, but if you want it checked by a lawyer and to have the option for making changes later, it quickly adds up. Their knowledge centre is helpful for providing information, but this is usually found with other Canadian Will creation services as well. It won't hurt to make your Will through FormalWill, but it isn't our first choice.
The necessity and implications of creating a Will are usually not at the forefront of most people's minds, but it is extremely important. If you die without one, legislation and the Courts determine who receives your estate and the amount of money they receive. If you have no successors, your estate vests in the government.
Although the thought of death and allocating assets isn't something most of us look forward to figuring out, it will provide peace of mind having it settled and you'll likely find that it's easier to do than you think. Creating a Will is a necessary part of life and will relieve the burden left on family members after you pass away.
A common reason people don't have a Will is because they aren't sure where to start. Since it is a legal document, people worry that it's complicated or expensive, so they put it off for as long as possible. Luckily the process for Will creation has gotten easier over time with professional online services. Gone are the days of having to find time to sit down with expensive lawyers and sort out all your financial matters. Online legal services provide you with access to remote lawyers who will verify that your documents meet Canada's legal Will requirements with little effort on your part.
The online Will services will walk you through a step-by-step process and explain the information you need to provide and why. As you create your Will, you will feel confident with what you're doing and make sure not to skip any important steps. Some providers even have round-the-clock access to customer service agents you can message or talk with on the phone and answer any questions you have along the way.
When browsing through the selection of online Canadian Will services, here are a few important things to consider:
TopConsumerReviews.com has ranked the best online legal services to help you create a Will in Canada. We hope this information helps you feel peace of mind as you complete this important task!
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