Did you know that May is Leave a Legacy Month? This month is an encouragement to reflect on how you want to be remembered while helping both your family and community. So, we wanted to bark some key information and tackle some myths about estate planning.
Myth: “I’m too young to need a will.”
Reality: You are never too young to have a will in place. If you do not have a will in place at the time of your passing, provincial laws will determine what happens with your assets. Having an up-to-date will ensures that any dependents (such as your furry friends) have a designated care plan in place.
Myth: “I made a will 10 years ago, and now I don’t have to worry about it.”
Reality: If you have not updated your will in the past five years, it is a pawsome idea to revisit it. This is especially true if you have had any major life changes. This allows you to ensure that any additional assets are included. You are also able to confirm that your executor is still able and willing to oversee the estate or that you have added an additional executor in case the former is unable to complete the estate. You may also have a pet now that you did not have then – it is important to ensure that you have expressed your wishes for their care in your plan.
Myth: “I’m not rich – I don’t need this.”
Reality: Having an estate plan is not about how much you have, but protecting what you do have. It is a way to ensure that your wishes are followed after you pass. This can simply be about who will take care of your cat or dog (or both!). Did you know that you can ask the Nova Scotia SPCA to care, and find a loving home for your fur family?
Myth: “Estate planning is too expensive.”
Reality: Basic planning can be quite affordable. It varies depending on what you are looking for, but we have a way to help break down any barriers! Our friends at Epilogue Wills have made creating your will simple. You can visit epiloguewills.com/give/nsspca to access a 20% discount on your will.
Estate planning and wills can seem daunting. We hope that starting this conversation and breaking down some of these myths has provided some practical guidance in an accessible way!
If you want to further the conversation to learn more about estate planning, you can contact me at vpenney@spcans.ca or 902-717-5010. I am always happy to share resources and discuss how you can support our furry friends as part of your lasting legacy!
You can also listen to our Nova Scotia SPCA PAW’dcast episodes on legacy:
- Continuing a Loved One’s Mission: https://rss.com/podcasts/spcapawdcast/2803060/
- Some Love Never Fades: https://rss.com/podcasts/spcapawdcast/2043179/
- It’s Never Too Early to Make a Will with our friends at Epilogue Wills: https://rss.com/podcasts/spcapawdcast/2022456/