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Experts more trusted for estate administration, poll shows

On Behalf of | Feb 4, 2020 | Estate Administration

Online tools are increasingly popular for those looking to tackle some of life’s most tedious or even complicated tasks. But are people in Ontario and throughout Canada ready to hand over their important financial and legal matters, such as major investments and estate administration, to online services? According to a recent poll, trusted experts are still preferred when it comes to important decisions.

The poll, conducted by CIBC, asked approximately 3,000 Canadian adults who they would turn to when making important life decisions. Two thirds of the respondents said they would turn to friends and family for advice on several life events, including marriage, buying a home or finding employment. This percentage was highest with younger Canadians, with 78 percent of 18 to 34-year-olds putting family and friends high on their list.

Asking a real-life person was also preferred for financial advice, though in that case, financial professionals were a more popular option than family and friends. Only 20 percent of respondents said they would prefer to go online for financial advice. Additionally, three quarters of respondents said they had never used an online service for investment management. Retirement planning and estate planning were among the top two issues that Canadians cited they would seek professional advice to navigate.

Issues such as writing a will, guardianship and taking on estate administration require more than just financial advice. Legal counsel is important to have in place to make sure that the decisions made are protected and clear. Those looking for support planning their own financial futures, or executing the will of a loved one, should connect with an Ontario lawyer to get the maximum amount of support needed to navigate these complex issues.


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