Your Roadmap to Peace of Mind: Part 1 – Your Will
- Shannon Williams
- Oct 6
- 3 min read
The Most Important Letter You’ll Ever Write
Estate planning can feel overwhelming, but it doesn’t have to be. At New Dawn Financial, our mission is to bring you clarity, confidence, and peace of mind.
That’s why we’ve created this three-part series to highlight the key documents every Ontarian should consider in their estate plan. In this first post, we’ll start with the foundation of it all: your Will.
Why Your Will Matters
Think of your Last Will and Testament as the most important letter you’ll ever write to your family. It’s your opportunity to clearly express your wishes for what happens to your assets and loved ones after you’re gone.
Without a Will, the Ontario government decides how your estate is distributed under provincial law. This can lead to unnecessary delays, stress, and even conflict for your loved ones. Having a properly prepared Will helps ensure your intentions are understood and respected.
What a Will Allows You to Do
1. Choose Your Executor
Your executor (or estate trustee) is responsible for settling your estate, paying debts, filing taxes, and distributing assets. Choose someone organized, trustworthy, and capable of handling details carefully. It’s one of the most valuable decisions you can make for your family.
2. Decide Who Inherits What
Your Will lets you outline how your estate should be distributed. You can leave specific items, cash gifts, or portions of your estate to children, grandchildren, friends, or meaningful charities.
3. Appoint a Guardian for Minor Children
If you have children under 18, your Will is where you can name a legal guardian — someone you trust to care for them in line with your values and beliefs.
4. Provide for Your Pets
Your pets are family too. You can name a trusted caregiver and even allocate funds to ensure they continue to receive the care and comfort they deserve.
How to Divide Your Estate: More Options Than You Think
A Will provides flexibility in how your estate can be structured. Here are a few approaches that may fit different family situations:
Equal Shares - A simple and fair option. You can divide your estate into shares instead of fixed percentages. For example: “50 shares to my spouse and 25 shares to each of my two children.” This method automatically adjusts to changes in your estate’s value over time.
Specific Gifts - You can leave fixed amounts or special items to particular people or causes. Examples:
“$10,000 to my niece, Emma.”
“My antique desk to my daughter, Lily.”
Trusts - A testamentary trust can help provide long-term care and protection for your loved ones, especially when circumstances are more complex. A Will can include trusts to:
Support minor children until they reach a chosen age.
Protect a vulnerable beneficiary who may need help managing funds.
Support blended families by providing for a spouse while ensuring remaining assets pass to children later.
Work with a qualified lawyer to ensure your Will and any trusts reflect your wishes accurately and comply with Ontario law.
A Will Is More Than Just Paperwork
Creating a Will isn’t only about property or finances. It’s about peace of mind. It’s a way to care for the people who matter most and to help them through what can be a very difficult time. A properly prepared Will provides comfort, clarity, and direction when it’s needed most.
Ready to Take the First Step?
Every family’s situation is unique, and your estate plan should reflect that. Book a free, no-pressure consultation to talk about your goals, your wishes, and how to protect what matters most.
Prefer to start by learning more? Writing your Will is one of the most important steps in protecting your loved ones. If you’d like to learn how this fits into your full estate plan, we’ve created a free resource to help you get started.
Download your complimentary guide, A Brighter Tomorrow: A Practical Guide to Estate Planning, and discover how to build a plan that brings clarity and confidence for years to come.
CLICK HERE GET THE FREE GUIDE
Up Next
In Part 2 of this series, we’ll explore your Power of Attorney for Property — the document that protects you and your finances while you’re still living.
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