FormalWill Review (May, 2024) – Pros, Cons, Features, & Pricing

Creating a will is essential in ensuring that your final wishes are carried out. A Will also helps to ensure that your loved ones will be taken care of after you are gone.

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Last Updated: May 12, 2024

FormalWill

  • System developed in consultation with Canadian lawyers
  • User-friendly online service utilizing advanced technology
  • Your document is instantly created online and a back-up copy emailed to you

Complete your will online for only $59 - Claim this offer

But it can be overwhelming and hard to understand, especially if you need to learn more about legal terms and procedures.

FormalWill is a Canada wills online service. It aims to make this process as simple and stress-free as possible for all Canadian.

This FormalWill review will look closely at FormalWill’s features, pricing, and overall service. This FormalWill review will help you decide if it’s the right choice.

What is FormalWill?

FormalWill.ca is a reputable online legal will service platform in Canada. It lets people make a Canadian Will quickly and cheaply from the comfort of their own homes.

FormalWill Inc operates the website. It is a Canadian company with federal incorporation that a Canadian lawyer started. They claim that they are the best website for estate planning in Canada.

If you are married, have minor children, or are an elderly person, FormallWill.ca can provide one of the best Canadian will kits for you. It will ensure that your assets are correctly bequeathed to your heirs for their benefit.

What service does FormalWill offer?

FormalWill provides five legal products: Will, Power of Attorney, Living Will, Pet will, and Lawyer Review.

In the following FormalWill.ca review, each of the five types of legal products will be explained. The prices and key features will be discussed.

You will know what to look for before you go on with your will decision. After that, you can learn more about them through this FormalWill review.

Five types of legal products from FormalWill

Wills

PriceFeatures
 $59 (including tax)Protected your loved ones and your assets

A Will makes sure that a person’s assets are split up the way they want. It lets people decide who gets their property, who will run their estate, and who will take care of their children.

FormalWill’s online will-writing service contains the user’s right to appoint an executor, as well as details of asset distribution, i.e.

  • Putting certain assets in the hands of certain people (money, financial products, cars, jewelry, household goods, real estate, etc.)
  • Through trusts, people can decide at what age their children under 18 can get their share of the estate.
  • Provisions that let the executor make decisions about income taxes that are best for the estate
  • Charitable provisions
  • Provisions for guardianship
  • A detailed letter telling witnesses how to sign your will in your presence.

Power of Attorney

PriceFeatures
 $39 (including tax)Appoint a trusted person to take care of financial matters

With a Power of Attorney, a person can choose someone else to handle their finances when they can’t.

FormalWill’s Power of Attorney document covers a wide range of items, including

  • Appointment of a lawyer and backup lawyers
  • Details about the attorneys’ rights and responsibilities
  • Responsibility of the lawyers
  • Restrictions on the types of powers that can be exercised

Living Will

PriceFeatures
 $39 (including tax)Specify health care wishes and appoint someone makes decisions

A Living Will is a significant way for someone who can’t speak for themselves to say what they want for their health care. With a Living Will, a person can choose a few people to make decisions for them based on their wishes.

FormalWill’s Household Will let individuals able to:

  • Choose a lawyer who will follow the rules of the document.
  • Details about health care (life support options, organ donation, medical treatments)
  • Detailed powers and duties for an attorney(s)
  • Liability and any restrictions on the types of powers they may exercise.

Pet Will

PriceFeatures
 $59 (including tax)Secure your pet’s future

FormalWill provide Canada’s first and only national Pet Will. This legal document includes a Limited Power of Attorney. It also covers a wide range of considerations to protect pets.

In FormalWill Pet Will, it lets individuals:

  • Having the power to name a Pet Guardian
  • Set aside pets care funds
  • Care for your pet(s)’ health.
  • Give instructions to the vet, groomer, pet walker, and other people who care for your pet(s).
  • Pay people who take care of pets.
  • Make any last decisions about euthanasia or the pet’s death (s).

Lawyer Review

PriceFeatures
$249Review of Last Will and Testament from a licensed lawyer
$149Review of Power of Attorney from a licensed lawyer
$149  Review of Living Will from a licensed lawyer

FormalWill has a service called Lawyer Review. People can get legal advice and a review from a licensed estate lawyer in their area through this new service.

When a customer gets a Lawyer Review, they can consult a lawyer for an hour about any concerns. For example, complex estate.

The service also includes free storage of the document on FormalWill.ca and free, unlimited access to the website for two years to make changes to the document.

FormalWill Review: Pros and Cons

formalwill review - comparewise

Pros of FormalWill.ca

The system was developed by Canadian lawyers. Canadian lawyers developed FormaWill’s service.

It ensures that the service is specified to each province and territory’s legal in Canada. Individuals can be confident that their will is legally compliant and meets all requirements.

User-friendly experience

The user-friendly design of FormalWill.ca makes it easy for individuals to navigate through the will-creating process.

When creating wills, individuals will be guided through every critical question. It ensures that no steps or details are missed. This makes it an excellent option for people who don’t know how to make a Wil or need to learn more about the law.

In addition, FormalWill has also created a Knowledge Centre and FAQ area within its official website. Its aim to help people who need more legal knowledge to learn more about their products.

Document instantly created

After answering all questions, FormalWill will process the answer, and use it to produce a legal will through their system.

After that, the Will will be backed up and emailed directly to the individual. This means that users can prepare their will quickly and easily, without needing to wait for a lawyer to draft it. When using FormalWill, the creation of a will takes only 10 to 20 minutes to complete.

Good customer service

FormalWill.ca offers email, phone and intermittent live chat support through its website. Chat hours are stable, customer service is perfect, and no additional charges are made.

Cons of FormalWill.ca

Limitations of amendments

If an individual wants to make changes to their will, they would need to purchase the “Peace of Mind Bonus” by FormalWill. It is an add-on option. It allows for one amendment to the will for $9.99 or two amendments to the will for $14.99.

This can be a significant additional cost for individual who needs to make frequent changes to their will. It is also limiting flexibility in making changes to a will.

FormalWill Review: Is FormalWill secure?

FormalWill is secure. FormalWill takes steps to protect the privacy of the information during the process of making a will. It will be done by encrypting the information while it is being sent.

FormalWill Review: Is FormalWill legit?

Yes, FormalWill is legit.

Individuals at FormalWill draft their wills through self-service and do not need to go through an attorney. When a person uses FormalWill to make a will and has a witness sign it, the will is legally binding. It does not need to be notarized.

In addition, it does not need to be filed with the court office. However, the executor may submit the will to the local court office for probate after the individual death.

How individuals can create a will through FormalWill

  • Register on FormalWill’s website
  • Complete the online order form.
  • Select the desired product and pay through FormalWill’s secure payment system
  • The information provided will be analyzed, and the Will will be generated automatically and instantly.
  • Customized document will appear immediately on the screen, and a copy will be sent via email
  • Documents should be printed out, and an instruction letter should be signed to promise the will’s legal effects.

FormalWill: A moderate platform with good legal wills making service

In the above FormalWill review, we have briefly analyzed the services offered by the FormalWill.ca platform, the features of its main products, and the strengths and weaknesses of the platform.

From the above FormalWill ca review, we can see that FormalWill has a good legal will-making service. This makes FormalWill.ca an excellent online legal Canadian will kit platform.

However, as a platform that focuses on providing online will kit Canada, FormalWill has apparent downsides.

FormalWill is less flexible, and its system is less intelligent. In addition, individuals are required to pay additional fees to make changes to their wills. On balance, FormalWill is a moderate online platform.

The prices are reasonable. It allows people to get a good service for a relatively small fee. For Canadians, this platform’s services still offer a competitive advantage.

Thanks for checking out our FormalWill review.

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FAQs about our FormalWills review

What is FormalWill?

FormalWill.ca is a reputable online legal will service platform in Canada. It lets people make a Canadian Will quickly and cheaply from the comfort of their own homes.

What service does FormalWill offer?

FormalWill provides five legal products: Will, Power of Attorney, Living Will, Pet will, and Lawyer Review.

Is FormalWill 's service secure and confidential?

Yes, FormalWill values the security and privacy of its customers' information. The website uses encryption technology to secure data, and customer information is kept confidential and not shared with third parties.

What is the process of creating a will with FormalWill?

The process of creating a will with FormalWillis straightforward and can be done online. Customers fill out a form with their personal and asset information and choose the type of will they want. The form generates a legally binding will that customers can review and sign.

April 1, 2023
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