This article is published here for information purposes only.

Friday, November 30, 2001

Toronto Star

ELLEN ROSEMAN

THE TRAGIC events of Sept. 11, 2001 have made people conscious of their own mortality. The result: More business for lawyers and more sales of do-it-yourself will kits.

I'm all in favour of making a will, as readers of my Money 101 columns each Sunday would know. In fact, I've mentioned it so many times I'm in danger of becoming a nag. But I know it's natural to procrastinate. Who wants to look ahead to a time when you won't be around?

So, in the interests of making this key financial-planning task a little easier, I'm devoting today's column to a new public education resource launched recently.

For the last four years, the Ontario Bar Association has sponsored Make a Will Month each November. The goal is to raise awareness through community based events. Now that December is upon us, the association hopes to keep up the pressure using the group's Web site (www.oba.org). Once there, click on the logo on the top right side of the home page.

The Make a Will site is devoted to helping people understand why they need a will and to encouraging them to get the job done. All the stuff you would expect is there: a quiz, glossary, frequently asked questions, information about taxes, estate planning and charitable giving.

What's surprising, though not entirely unexpected from a group representing 15,000 lawyers, law students and judges, is the tough stand against homemade will kits.

"Do-it-yourself wills can be dangerous to your wealth," says Toronto lawyer Edward Olkovich in an article posted on the Web site. "After you've gone, your loved ones may live to regret it. Like most quick fixes, they can end up costing a lot more time and money. Worse still, a court can declare these wills invalid."

What can go wrong with a will kit? Olkovich thinks the main risk is improper drafting, which can lead to family feuds, estate delays and extra legal costs for the beneficiaries.

He tells the story of Jessica, a client who planned to leave her money in the bank to relatives. But her hand-written will used the word "monies," an imprecise term.

Jessica's relatives each hired a lawyer and went to court to get a decision. Did monies include her guaranteed investment certificates at the bank? The judge decided it was only cash in her account, but the cost of interpreting the will was high.

Olkovich also talks about Tom, who drafted contracts for a living before he retired.

His homemade will said: "I give 10 per cent of my estate to God."

An excellent choice of beneficiaries, said the lawyer who reviewed the will before Tom went on vacation, but which religious organization was to receive the money?

"Between you and God it may be clear, but no one else on earth will know," the lawyer said. "A court would have to interpret your intentions after you're gone."

Olkovich has been practising law since 1978 in the Bloor West Village area of Toronto. He teaches estate planning in the bar admission course and has written a book, The Complete Idiot's Guide To Estate Planning In Six Simple Steps For Canadians. He even chose the name www.mrwills.com for his Web site.

He insists he has never seen a do it yourself will kit that has been filled out correctly.

"The kits say they're lawyer approved," Olkovitch says. "This means they meet the minimum requirements in each province when they're sold. But no one approves what you do with the kits, how you fill in the blanks."

Lawyers Margaret Kerr and JoAnn Kurtz are authors of a competing book, Wills And Estates For Canadians For Dummies. The two are also suspicious of will kits.

"The guides provide only limited advice about planning your will," the pair write. "The easy-to-use forms tend to be blank in all of the difficult places and complete only in the places you could probably figure out on your own."

Last year, the CBC-TV consumer show Marketplace looked at one heavily, advertised product, The Canadian Legal Will Kit. Marketplace got a couple with a young child to fill out the will kits, then took them to lawyer Mary McGregor to review.

McGregor said the kit was too simple and didn't give enough advice, or warnings, about potential problems.

For example, the will was missing basic information, such as details on how a guardian might raise the daughter, provision for future children and a plan for what would happen to the family's estate if all three died.

A $30 will kit may be a false economy. Save your relatives money and pay a couple of hundred dollars for a lawyer-prepared will.

If you need the name of a lawyer, try the Law Society of Upper Canada's lawyer referral service. Call 1-900-565-4577 to get a local lawyer who will give you a free half-hour consultation. A $6 charge will be added to your next telephone bill.