PEI Online Wills: Here’s What You Need to Know
PEI is pretty awesome. Home of Green Gables, beautiful beaches, and the freshest seafood around … could it get any better? Well, maybe just a little. That’s because the majority of the population does not have a proper Will in place. And as you’ll learn in the article below, that’s scary! A Will really is one of the most important documents you can have to protect your family.
Looking to learn more about making an online Will in PEI? We know the process can spark more questions than answers, so we’ve got you covered.
Keep reading to discover the answers to the most commonly asked questions about online Wills PEI.
What’s the definition of a “Last Will and Testament”?
A Will, also known as a “Last Will and Testament”, is a legally binding document that outlines your final wishes for the distribution of your assets after you die.
A Will determines:
Who will take care of your minor children or pets
Who will receive your assets
Who will manage your estate when you’re gone
Read more about Will basics here.
What happens if I die without a Will in PEI?
When someone dies without a Will, it’s called dying “intestate.” When someone dies intestate, they don’t get a say in important decisions like how their assets get distributed, who gets to be in charge of the process, and who will take care of any minor children.
The rules about how assets are distributed depend on the person’s family situation. Here are some of the rules that apply to someone who dies without a Will in PEI:
A spouse and no children: The spouse gets everything.
A spouse and one child: One-half of the estate goes to the surviving spouse, and the other half goes to the child.
A spouse and more than one child: One-third of the estate goes to the surviving spouse, and the remaining two-thirds is split equally between the children.
Children but no surviving spouse: Everything is split equally between children. If a child is not alive but has kids of their own who are alive (grandchildren of the person who died intestate), the deceased child’s portion is shared equally among them.
No living spouse or children: Everything goes to the deceased’s parents (or surviving parent, if there is only one). If the parents aren’t alive, everything gets split between the deceased’s siblings (or the descendants of a sibling who is not alive.)
How can I appoint a guardian for my children in PEI?
Parents are usually the legal guardians of their own children. In most cases, if one of them passes away before the other, the surviving parent would continue to be the legal guardian of any minor children.
A parent (or other legal guardian of minor children) can name someone in their Will to take over that role if they are the last surviving guardian of the children. If the last surviving guardian passes away (or if both guardians die simultaneously), the person named in Will would assume the responsibilities of guardianship.
What’s the legal age to make a Will in PEI?
The legal age to make a Will varies across Canada, depending on the province you live in.
If you’re 18 years or older (and of sound mind) you’re able to make a Will in PEI. Keep in mind, exceptions can be made for anyone in the military and anyone who is legally married or emancipated. Now, we realize most 18-year-olds aren’t thinking about their own death. After all, you’re just starting to live life! But estate planning is a great practice to start at a young age.
🙌Plus, if you make your Will with an online will company in PEI like Epilogue, you can always log in to your dashboard and update your documents anytime, for free.
Do I need a lawyer to make my Will in PEI?
A lawyer is not needed to make a legally binding Last Will and Testament in PEI. Anyone who needs a basic Will can quickly and easily make one using an online platform.
However, there are many situations where someone should get in touch with a lawyer to make their Will, including:
If they want to exclude a spouse, child, or another dependant from their Will;
If they want to distribute their assets unequally among their children;
If they are in a second marriage/common-law relationship but have children from a prior relationship;
If there is a family member who is receiving government disability benefits;
If they own real estate outside the province that cannot be dealt with under a Prince Edward Island Will; or
If they want to engage in sophisticated tax planning.
Are online Wills legal in PEI?
Absolutely! PEI online Wills are becoming an increasingly popular option because they take the pain and price out of visiting a lawyer.
🙌 Epilogue Wills offers a best-in-class online Will service in PEI.
Founded by two former tax and estate lawyers with over a decade of combined experience, an Epilogue Will gives you a lawyer-quality Will but without the legal fees or in-person office visits.
With Epilogue you get:
An easy-to-use, simple platform
A personalized legal document that is based on your unique life situation
All in as little as 20 minutes
Free and unlimited updates to your Will
No hidden fees!
What is a Power of Attorney in PEI?
Someone’s Will only takes effect once they are no longer alive. However, there are many cases where someone is alive but can no longer make decisions for themselves. This can happen as a result of an accident or due to general cognitive decline that can occur with aging. This is where a Power of Attorney (POA) document becomes important.
Someone makes a POA while they are still mentally capable. It allows them to name the person who would be authorized to manage their financial affairs (e.g. paying bills, managing investments, selling property) in the event that they are alive but have lost the capacity to manage these things for themselves.
The person appointed to make decisions is called the “attorney” (even though they don’t actually have to be a lawyer). They must be at least 18 years old and mentally competent.
🙌With Epilogue, you have the option of purchasing a Will-only package or one that includes both a Will and incapacity documents like a POA.
What is a Health Care Directive in PEI?
In PEI, a Health Care Directive is a legal document that lets someone appoint an individual to make decisions about their health care, medical treatment, and end-of-life care if they are not capable of making those decisions for themselves.
In other provinces, this document may be referred to as a Power of Attorney for Personal Care or a Personal Directive.
🙌Epilogue also includes an easy option for a Health Care Directive.
Since so much of our personal and professional information is now online, it’s important to let your loved ones know how you’d like your online profiles dealt with once you’re no longer here. Now, you can do that with a Social Media Will.
🙌Epilogue’s Social Media Will guides you through a step-by-step process that lets you decide and document how you’d like your social media platforms accounts dealt with.
How much does it cost to make a Will in PEI?
If you go to a traditional estate planning lawyer in PEI, you can expect to pay anywhere from $400 to several-thousand dollars (depending on the complexity) to make a Will. Plus, you’ll also have to pay every time you want to update it. That means an extra $250 an hour any time you buy a property, have another child, increase your wealth, or even adopt a pet).
BUT, if you go with an PEI online Will service like Epilogue, it costs under $200 – one time only, no matter how many updates you make.
How do I make a Will in PEI? Let’s get started.
Anyone in this beautiful east coast province and now create a Will, Power of Attorney, Health Care Directive, and Social Media Will in four easy steps.
Here’s how it works:
Visit https://epiloguewills.com and click “Start My Will”
Complete the questionnaire
Generate your documents
Print and sign them according to the detailed signing instructions included
If you still have questions or need any help, feel free to reach out to us anytime via the live chat in the bottom right corner or send us a message and we will get back to you as soon as we can! Please note we are not able to offer legal advice.