I hear it all the time. “Beverly, I don’t think I need a Will because I don’t own that much.” This is a common reason we hear from people at Carter Notary as to why they don’t think they need to do any legal estate planning. We also hear these statements:
“I don’t own a house.”
“All I have is a bank account.”
“I’m not wealthy, so I don’t think I need a Will.”
We understand the thinking. Estate planning can sound like something only necessary for people with significant assets. But that’s simply not true.
At Carter Notary, we regularly help individuals and families in Victoria, BC create a Will, even when they feel their estate is “small.” Let’s talk about why that matters and clear up some common myths about needing a Will.
Myth #1: You Only Need a Will If You’re Wealthy
This is the biggest misconception many people in have.
A Will isn’t about how much you own, it’s about who makes decisions and who receives what you do own. When you create a Will, you take control of what happens to your things.
Even if you only have:
- A bank account
- Personal belongings
- A vehicle
- Investments or RRSPs
Guess what. You still have an estate. And “estate” doesn’t always mean multiple homes, a sprawling home on a big piece of property, or lots of money invested in stocks. In fact, it rarely means that.
But most people own something. And without a Will, those things you own, or your estate, is distributed according to British Columbia’s intestacy laws. That means the government decides who inherits your assets and who administers your estate.
Creating a Will gives you control. And control is important, no matter the size of your estate.
Myth #2: Everything Automatically Goes to My Family
In many cases, people assume their spouse or children will automatically inherit everything.
While BC law does outline how assets are distributed if someone dies without a Will, it may not reflect your specific wishes. Blended families, common-law relationships, estranged relatives, or specific personal gifts can complicate matters quickly.
With a legal, properly prepared Will you clearly outline:
- Who receives your assets
- Who will act as executor
- Who will manage affairs if minor children are involved
Clarity reduces conflict. And that alone is worth planning for. A Will is a great way to make sure what you want to happen in fact happens!
Myth #3: It’s Too Complicated or Expensive
Some people delay creating a Will because they assume the process is overwhelming.
In reality, working with a Notary Public makes the process straightforward. At Carter Notary, we guide you through your decisions, explain your options in plain language, and prepare a legally valid Will tailored to BC law. And not only do we partner with you to walk you through the process, we do so without judgment.
Creating your Will doesn’t have to be complicated. And it certainly doesn’t have to wait until “someday.”
What Happens If You Die Without a Will in BC?
If you pass away without a Will a few things happen. One, someone must apply to become administrator of your estate. Second, your estate is distributed under provincial legislation. And finally, the process may take longer and cost more.
Plus, family members may face additional stress during an already emotional time. Your life and relationships might be complicated. With a Will, you can have peace that what you want to happen with your estate is what actually happens. It won’t be left up to your family to sort out.
Creating a Will is one of the simplest ways to make things easier for the people you care about. It’s not about wealth. It’s about responsibility and giving them the peace of mind they will need.
A Will Is About More Than Assets
Many people don’t realize that a Will also allows you to:
- Appoint an executor you trust
- Name guardians for minor children
- Provide specific gifts to individuals, organizations, or non-profits
- Create clear instructions that reduce family disputes
Even modest estates benefit from structure.
In our experience serving clients in Victoria, BC, the relief people feel after completing their Will is noticeable. There’s peace of mind in knowing things are handled. And that peace of mind certaily isn’t reserved for the wealthy!
When Should You Create a Will?
That’s a great question. The honest answer? As soon as you’re an adult with assets or responsibilities.
Life changes such as change in marital status, children, purchasing property, starting a business, all increase the importance of having a valid Will. If you’re asking whether you need one, that’s usually your sign that you do.
At Carter Notary, we partner with people so they can understand their options and create estate plans that reflect their wishes clearly and legally. And we do so in a non-judgmental, informative way. We partner with clients to guide them through the process, making sure all questions are answered and all paperwork is understood.
Ready to Put a Plan in Place?
If you’ve been putting it off because you think you “don’t own enough,” we encourage you to reconsider. Creating a Will is one of the most practical, thoughtful steps you can take for your loved ones.
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Frequently Asked Questions
Do I need a Will if I only have a bank account?
Yes. Even a bank account forms part of your estate. A Will ensures it goes to the person you choose rather than being distributed under default provincial laws.
What happens if I die without a Will in BC?
Your estate is distributed according to BC’s intestacy legislation. A court-appointed administrator handles the estate instead of an executor you choose.
Is creating a Will expensive?
For most people, creating a basic Will is a straightforward and affordable process. It can also prevent costly complications later.
Can a Notary Public prepare a Will in Victoria?
Yes. In British Columbia, Notaries Public are authorized to prepare Wills and provide estate planning services. This is a service where Carter Notary shines with professionalism and experience.
Does a Will cover all my assets?
A Will generally covers assets that form part of your estate. Some assets, like jointly owned property or designated beneficiary accounts, may pass outside the Will. We can answer any questions you have on this topic.
When should I update my Will?
You should review your Will after major life events such as marriage, divorce, birth of a child, or significant asset changes, or every five years.
Can I name anyone as executor?
You can name a trusted adult who is capable of managing your estate responsibly. It’s important to choose someone organized and reliable. If you don’t have someone in your personal life that fits the bill, one of our Notary Publics can certainly serve as your executor.
Do young people need a Will?
Yes. If you are an adult with assets or responsibilities, having a Will ensures your wishes are followed.
Is a handwritten Will valid in BC?
In some cases, handwritten Wills may be recognized, but they can create complications. Professionally prepared documents provide clarity and compliance.
How do I start the process?
You can begin by booking an appointment with Carter Notary to discuss your goals and create a Will tailored to your situation.