Dave Ramsey looking shocked
Here’s a hard truth that most of us would rather not sit with: more than half of Canadians have no will (1). And for the family you leave behind, that decision — or lack of one — could cost thousands of dollars, trigger a lengthy court process and strip your loved ones of any say in what happens to everything you spent a lifetime building.
It’s a point personal finance expert Dave Ramsey drives home bluntly with his characteristic flair.
“If you hate the people in your family, leave unclear instructions and no will. Because they will all fight [for] the rest of their lives over your crap,” he said on The Ramsey Show.
“If you love them, do the opposite,” quipped co-host Kristina Ellis, a personal finance author and college finance expert.
The 11-second TikTok clip of their exchange racked up tens of thousands of likes — and hundreds of comments alluding to post-death family drama. It’s darkly funny. It’s also, for millions of Canadians, uncomfortably close to reality.
Despite recognizing the importance of estate planning, Canadians are largely unprepared. Only 15% of Canadians have a formal estate plan — and just 1 in 4 retirees have one in place, according to a 2024 Ipsos poll conducted on behalf of RBC Insurance (2). A separate survey by Narrative Research found that only 43% of Canadian adults currently have a will at all. (3)
Out of all age groups, millennials are particularly at risk: as 88% have no will that reflects their current circumstances (4).
And the reasons people give — “I’m too young,” “I don’t have enough assets,” “I don’t know where to start” — don’t hold up under scrutiny. As Ramsey’s team put it on TikTok: “If you’re over 18 and breathing… you need a will!”
When someone dies without a will in Canada, they are said to have died “intestate.” At that point, it is no longer your family’s decision. Provincial intestate succession laws take over, and the government decides how your estate is divided (5).
That process is expensive, time-consuming and emotionally debilitating.
It starts with the funeral. In Canada, the average cost of a traditional funeral runs between $5,000 and $10,000, and can climb as high as $20,000 depending on your province and the choices involved (6). A 2024 survey by Seniors Choice put the average at $7,793, with nearly half of those surveyed (46%) saying they didn’t think they could meet the costs required for a family bereavement (7).
Then comes the financial reckoning. Every debt must be settled. Every asset must be legally transferred. Every financial account must be closed or reassigned.
Without a will, there is no executor pre-selected to manage any of this — so a court must appoint an estate administrator. That process triggers probate, the court procedure that validates and administers a deceased person’s estate. In Ontario, probate fees alone are calculated at $15 for every $1,000 of estate value over $50,000 — meaning an estate worth $500,000 could face $6,750 in fees before a single dollar reaches your family (8). And legal costs associated with the probate process can add up to $5,000 more (9).
Read more: Here are 5 essential moves to make once you’ve saved $10,000
Here’s a uniquely Canadian risk that American estate planning advice often overlooks: if you are in a common-law relationship and die without a will, your partner may inherit nothing.
In most provinces, common-law spouses are not entitled to inherit under intestate succession laws. In Ontario, the Succession Law Reform Act protects legally married spouses only. If your common-law partner is not named in a will, they have no automatic right to your estate, your home (even if they live in it) or your financial accounts (10). They would need to file a dependent support claim or an unjust enrichment claim through the courts — an expensive and arduous process with no guaranteed outcome.
This is a legal distinction that does not exist in the same way in the U.S., and it makes estate planning especially urgent for the millions of Canadians in common-law relationships.
For those who want to spare their family the uncertainty and stress, having a will is essential. In Canada, a valid will must:
-
Include your personal information: Your full legal name, date of birth and names of your immediate family members.
-
Declare testamentary intent: Language that clearly identifies the document as your Last Will and Testament.
-
Detail your assets: Any money, real estate, personal property or investments you want to distribute — and who should receive them.
-
Name your beneficiaries: The people, charities or organizations who will receive your assets. Be specific about who gets what.
-
Appoint an executor: Someone you trust to carry out the terms of your will, manage unresolved financial affairs and deal with the Canada Revenue Agency (CRA) on your estate’s behalf. Without a named executor, the court appoints one — and that appointment comes with additional costs and delays.
-
Name a guardian: If you have children under 18 or dependent adults in your care, you can designate a legal guardian. Without this, the courts decide.
-
Sign and witness the document: Your will must be signed in the presence of two independent adult witnesses, who must also sign. Requirements can vary slightly by province — in British Columbia, for example, remote witnessing is now permitted in some circumstances.
-
Update your will after major life changes: marriage, divorce, the birth of a child, or a significant shift in assets.
The cost of doing nothing is far higher than the cost of acting. A simple lawyer-drafted will in Canada averages $624 nationally, according to a 2021 legal fees survey by Canadian Lawyer magazine (11). In Ontario, the average is around $503; in British Columbia, it’s closer to $821. For more complex estates involving trusts, blended families or significant assets, costs can rise to $1,500 or more.
For those who want a lower-cost option, online will platforms such as Willful and LegalWills.ca offer legally binding wills starting at roughly $40 to $200. A will created through these services is just as legally valid as one prepared by a lawyer — provided it meets your province’s requirements for signing and witnessing.
As Ramsey’s team put it: “So, why not spend a small portion of that (and just once) on a document that’ll give you peace and protect your family’s future instead?”
The math is straightforward. For the price of a few dinners out, you can spare your family years of grief — financial and otherwise.
-
Get a will. If you don’t have one, start today. Online platforms offer basic wills for $200 or under. If your estate is complex — involving trusts, a blended family, a business, or significant assets — consult an estate lawyer.
-
Add beneficiary designations. RRSPs, RRIFs, TFSAs, life insurance policies and pension plans can pass directly to a named beneficiary, bypassing probate entirely. Review these designations annually.
-
Appoint a power of attorney (POA). A POA for property and a POA for personal care allow a trusted person to manage your finances and make health decisions if you become incapacitated. These are separate from a will but equally important.
-
Tell your executor. Make sure the person you’ve named knows where your will is kept and what your wishes are.
-
Update your will after major life changes. Marriage, divorce, a new child, the death of a beneficiary — all of these are reasons to review and revise your estate plan.
-
If you’re in a common-law relationship, act now. Without a will, your partner may have no legal right to your estate. This is not a hypothetical risk — it is a concrete legal reality in most Canadian provinces.
We rely only on vetted sources and credible third-party reporting. For details, see our editorial ethics and guidelines.
Logit Group (1, 3); Ipsos (2); Epilogue Wills (4); Willful (5, 9); Canada Life (6); Seniors Choice (7); Steps to Justice (8); Hummingbird Law (10); ClearEstate (11)
This article provides information only and should not be construed as advice. It is provided without warranty of any kind.
