Skip to content
News & commentary

June 2021 – Why do I need a Will?

Home News & Commentary June 2021 – Why do I need a Will?
Jon Glougie

Jon Glougie

Why do I need a Will?

If you’re like most people, you probably don’t like thinking about your mortality. It’s never a pleasant
subject, but it is an important, and often overlooked, tool that should be included in your financial plan.
What is a Will? Think of a Will as being your voice from beyond the grave. Essentially, a Will allows you
to determine who gets your stuff after you’ve passed away. If set up correctly, a Will can help provide a
smooth distribution of your assets to the beneficiaries that you had intended. But what happens if you
pass away without a Will? This is what is referred to as dying “intestate”. If somebody passes away
intestate, their assets will on longer necessarily be distributed as you would have wanted. Instead, the
government will distribute your assets using a pre-determined formula. As such, you may find that your
beneficiary(ies) will not receive the assets that you had intended. You may even find that family
heirlooms are sold, rather than passed on to the intended beneficiary(ies). There are several reasons
why you want to ensure that you have a Will, and that it is always kept up-to-date. Above all else, you
should ensure that your family is looked after, even when you’re not around.


This information has been prepared by Luft Financial. Opinions expressed in this article are those of Luft Financial only and do not necessarily reflect those of IA Private Wealth. Furthermore, this does not constitute an offer or solicitation to buy or sell any of the securities mentioned. The information contained herein may not apply to all types of investors.

How do we elevate your wealth?

It begins with understanding your needs and creating a comprehensive and tailored financial plan to help reduce tax, manage risk and grow your portfolio over the long term. Learn more about how we help you achieve financial security and peace of mind.

News & commentary

Semi Annual Review: First Half of 2021

Luft Financial model portfolio updates help you understand the complexity of your assets, better manage them & develop successful investment strategies. Click here to read Elvis Picardo’s review: Model Portfolio Update 2021 First-Half Review

Read more
The Market & Economic Environment

Market & Economic Environment

Equities continued to power ahead in June, as the TSX Composite traded over 20,000 for the first time and the S&P 500 capped its second-best performance in the first half of a year since 1998. The TSX advanced 2.2% last month, led by outsized gains in the technology sector (+18.2%); the energy sector rose 5.8% […]

Read more

Critical Illness Insurance… For the Kids

Insurance for children may seem odd at first glance, but if you look closer, you may find a few great reasons to consider it. First, approval for a Critical Illness insurance policy is, in part, underwritten based on family medical history. If you get sick, your children may not be able to get approved for […]

Read more