Why Millennials Should Plan Ahead for a Funeral
For Canadian millennials (born roughly 1981-1996, now ages 30-45), funeral and estate planning is increasingly relevant. Two parallel realities — aging parents requiring conversations, and personal mortality questions as middle adulthood begins.
Why millennials face this now
Aging parents:
- Parents born 1940s-1960s now in their 50s-70s
- Health changes more common
- End-of-life planning needed
- Many parents haven't done planning
- Millennials are often the ones who need to initiate
Personal mortality:
- Statistically small but non-zero risk of unexpected death (accident, illness)
- Building careers, partnerships, families
- Specific assets accumulating
- Specific responsibilities to dependents
Reaching middle adulthood:
- 35-45 is when many people first seriously consider mortality
- Combination of life events triggers awareness
- Specific to generational position
Conversations with parents
Common reality: Many parents have outdated or no estate plans.
Common challenges:
- Will from 20+ years ago, before grandchildren or major life events
- No executor designated or executor died/moved away
- Beneficiary designations outdated
- No discussion of preferences
- Specific family disputes brewing
How to initiate:
- Direct framing: "I want to make sure we know what you want when the time comes."
- Trigger event: Another family member's death, news article, health update
- Practical framing: "We're updating our own estate plans. Made me realize we should talk about yours."
- See talking to a loved one about their funeral wishes
Key topics:
- Do they have a Will?
- Who's their executor (still appropriate?)
- Are beneficiary designations current?
- Funeral preferences (burial/cremation, specific elements)
- Power of Attorney designations
- Long-term care planning
Basic elements for personal planning
Will
Why:
- Distributes assets per your wishes
- Names guardian for minor children
- Names executor
- Documents specific bequests
- Prevents intestate distribution under provincial law
How:
- Online services: $50-250 typically
- Lawyer-drafted: $500-1,500 typically for moderate complexity
- DIY: Free but specific provincial requirements must be followed
When:
- Now, with annual updates
- Don't wait for 'right time'
Beneficiary designations
Accounts:
- RRSP/RRIF
- TFSA (successor holder for spouse; designated beneficiary for non-spouse)
- Life insurance (individual and group)
- Pension (employer)
Why:
- Pass outside the Will (faster, no probate)
- Specific provincial provisions
- Tax considerations
How:
- Login to each institution
- Update online or via form
- Specific to each institution
Power of Attorney for property (financial)
Why:
- Designates trusted person if you cannot manage finances
- Specific to incapacity scenarios
- Prevents court-appointed guardian
How:
- Provincial form required
- Specific provincial procedures
- Sometimes online services include
- Sometimes lawyer needed
Power of Attorney for personal care (health)
Why:
- Designates trusted person for health decisions
- Specific to incapacity scenarios
- Documents medical preferences
How:
- Provincial form required
- Specific provincial procedures
- Sometimes combined with advance directive
Discussion with family
Why:
- Family knows your wishes
- Reduces decision burden in crisis
- Specific to communication
How:
- Direct conversation with executor
- Direct conversation with spouse/partner
- Document conversations
Millennial-specific considerations
Digital assets
Online accounts:
- Email, social media, cloud storage
- Specific platform memorialization or closure procedures
- Designated legacy contacts where available (Facebook, Apple, Google)
- See managing deceased online accounts
Specific digital property:
- Cryptocurrency (specific access required)
- NFTs and digital art
- Online business
- Domain names
- Specific platform earnings (creator economy)
Specific to document:
- Location of digital assets
- Access credentials (NOT in Will — separately documented)
- Specific instructions for handling
Cryptocurrency
Specific challenges:
- Self-custodial wallets (you control private keys) — keys must be passed to heirs
- Exchange custody (Coinbase, Wealthsimple Crypto, Binance, etc.) — specific death procedures
- Hardware wallets — physical access to device needed
- Specific to cryptocurrency type
Specific planning:
- Document existence and approximate value
- Specific access mechanism (separate from Will for security)
- Specific instructions for executor
- Specific to specific exchanges or wallets
Blended families
Common millennial reality:
- Second marriages
- Step-children
- Multiple partnerships
- Specific family structure complexity
Specific planning:
- Specific provisions for spouse vs. children from previous relationships
- Trust structures for specific protection
- Specific guardianship for step-children
- Specific consideration of family dynamics
Environmental preferences
Millennial-specific values often:
- Green burial interest
- Aquamation (water cremation) interest
- Specific environmental considerations
- Specific charitable giving aligned with values
Specific planning:
- Document environmental preferences in funeral pre-planner
- Specific funeral home selection
- Specific cemetery preferences
Charitable interests
Generational patterns:
- Specific causes important
- Specific to mental health, climate, social justice, specific issues
- Specific to organizations
- Strategic charitable giving
Specific planning:
- Charitable bequests in Will
- Specific to causes
- Tax-efficient charitable giving
- See charitable bequest Canada
When to review
Major life events:
- Marriage or common-law formation
- Divorce or separation
- Children
- Buying property
- Major job change
- Starting business
- Significant inheritance
- Parental death
- Move to different province
Routine:
- Every 3-5 years for comprehensive review
- Annual quick check of beneficiary designations
Specific to millennial financial reality
Many millennials:
- Significant student debt
- High housing costs
- Specific to gig economy or non-traditional employment
- Multiple revenue streams
- Specific financial complexity
Planning matters even with limited assets:
- Even small estate can have disputes
- Specific provisions for partner without legal marriage
- Specific to dependents
- Specific to specific items meaningful to family
Specific to millennial values
Common patterns:
- Direct cremation more popular
- Memorial service preferred over traditional funeral
- Specific celebration of life format
- Specific cultural authenticity (not just religious tradition by default)
- Specific personal expression
- Specific to specific causes and values
Resources for millennials
Online Will services:
- Various Canadian providers (specific to compare on features and price)
- $50-250 typical for basic Will
Specific provincial information:
- Provincial Wills Acts and procedures
- Specific provincial forms for Power of Attorney
- Specific resources for each province
Professional help when needed:
- Lawyer-drafted for complex estates
- Accountant for specific tax planning
- Financial advisor for comprehensive planning
What we focus on at It's Simple Will
The Will Creator is designed for accessible Canadian Will creation — millennial-friendly online interface, specific provincial requirements, designed for the planning realities of younger Canadians.
Related guides
Citations & sources
- [1]Canadian Bar Association — Canadian Bar Association
- [2]Statistics Canada — Population by Age — Statistics Canada
Frequently asked questions
I'm 35 — is it really time to think about this?
Yes. Two reasons — your parents (50s-70s now) need someone to discuss their planning with; and statistically you have a small but non-zero risk of unexpected death (accident, illness) where having basic documents in place protects your family from chaos. Basic Will takes 1-2 hours online; updating beneficiary designations 30 minutes total. Small investment for significant protection.
Should I talk to my parents about their plans?
Yes — but tactfully. Many millennials' parents have outdated or no plans. Conversations now while parents are healthy are more productive than during crisis. Start with simple questions ('Do you have a Will?' 'Who's your executor?'). Use trigger events (another family member's death, news article) to open conversation.
What about my own funeral preferences?
Document basics — burial vs cremation, religious vs secular, scattering location, specific elements meaningful to you. Update as preferences evolve. Doesn't need to be elaborate; even basic preferences guide family if needed.
What's millennial-specific in estate planning?
Digital assets (online accounts, cryptocurrency, NFTs), specific online business or intellectual property, blended family considerations (later marriages, step-children, multiple partnerships), environmental preferences (green burial, aquamation interest), specific charitable interests reflecting generational values.
How often should I review?
After major life events — marriage, divorce, having children, buying property, major job change, starting business, significant inheritance, parental death. Every 3-5 years for general review. Annual check of beneficiary designations on accounts.
What's the minimum I should do?
Have a Will (online service $50-200 typical or DIY). Designate beneficiaries on RRSP, TFSA, life insurance, pension. Power of Attorney for property (financial). Power of Attorney for personal care (health). Discuss with family. These five elements provide basic foundation.