CIBC and Willful come together to help fill Canada’s will-writing gap

Partnership answers need for convenient, inexpensive digital option for more Canadians

CIBC and Willful come together to help fill Canada’s will-writing gap

In response to the rising need for digital estate planning solutions, CIBC recently announced a partnership with Willful, an online will creation platform.

According to David Attard, Senior Vice-President, Digital Banking and Enablement, Personal and Business Banking, CIBC, "Canadians want simple online financial solutions to help them manage their finances today and plan for the future and working with Willful enables our clients to have the peace-of-mind that comes with having a will and plan for their estate."

"With this new collaboration, we're encouraging clients to have important conversations and get these vital documents in place, leveraging the convenience of digital to make it as easy as possible," he added.

Cost and convenience are significant concerns for many Canadians who haven't written a will, according to CIBC research.

More than half of Canadians lack a formal will, the research found. Among those Canadians, over half believe that creating a will online would be a convenient choice.

As cost and convenience emerge as major considerations for many people, the CIBC and Willful partnership offers online banking customers who need non-complex will requirements an easy option to write a will on Willful's platform for $79 (20% off standard pricing), in as little as 20 minutes.

In addition, clients can build a list of their assets, designate a power of attorney for emergencies, and specify their funeral and burial wishes. As their lives change, clients are allowed to make free modifications.

Alberta, British Columbia, Manitoba, New Brunswick, Nova Scotia, Ontario, Québec, and Saskatchewan currently host to Willful services.

Erin Bury, Founder and CEO, Willful, said, "While many people put it off, will and estate planning often provide peace of mind. Getting these important end of life financial decisions out of the way can dramatically ease the burden on loved ones." 

This partnership follows another announcement in April, when Willful and Arbor Memorial unveiled an agreement to provide more Canadians access to their Canadian online will service.

Willful began collaborating with Arbor, the largest privately-owned chain of funeral homes in Canada that operates in the same eight provinces as Willful, following a survey the company conducted of Canadians in early 2021 to determine how their attitudes toward estate planning had changed as a result of COVID (all but Newfoundland and PEI).

LATEST NEWS