CIBC poll finds disconnect in Canadians' estate planning: nearly all say a will is essential, yet only half have one

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CIBC poll finds disconnect in Canadians' estate planning: nearly all say a will is essential, yet only half have one /* Style Definitions */ span.prnews_span { font-size:8pt; font-family:"Arial"; color:black; } a.prnews_a { color:blue; } li.prnews_li { font-size:8pt; font-family:"Arial"; color:black; } p.prnews_p { font-size:0.62em; font-family:"Arial"; color:black; margin:0in; } .prntac{ TEXT-ALIGN: CENTER } Canada NewsWire Nearly three-quarters plan to transfer wealth while living, but without a plan, good intentions may fall shortTORONTO, June 3, 2026 /CNW/ - A new CIBC poll focused on inheritance and wealth transfer highlights a striking gap in estate planning among Canadians: while 94% believe everyone should have a will to clearly outline the transfer of assets, only 52% say they actually have one. The poll suggests the "why" behind this gap is less about values, and more about barriers to getting started and following through. Among those without a will, the leading reasons include procrastination (39%), believing they don't have enough assets to warrant a will (31%), and uncertainty about where to begin (24%).Beyond wills, the findings indicate that even fewer Canadians have put other foundational elements in place, with only 39% reporting a financial plan and 29% having an estate plan – highlighting how often planning remains incomplete even when the intent is there."Canadians overwhelmingly agree that a will is essential, yet many delay or avoid taking the steps needed to have the peace of mind a will can bring," said Carissa Lucreziano, Vice-President, Financial Planning and Advice, CIBC. "Financial and estate planning can feel intimidating or easy to put off, but it doesn't have to be. With the right guidance, a clear plan can be put into place, helping to ensure your assets are distributed as you would want."The poll also points to a shift in how Canadians intend to pass on wealth. Among those planning to transfer wealth, nearly three-quarters (73%) prefer to give gradually during their lifetime (26%) or combine gradual giving with a lump sum after death (47%). This trend additionally reinforces the value of planning – particularly when families are aiming to find a balance between short-term generosity and long-term needs.CIBC provides personalized advice and tools to support clients with financial and estate planning, inc...

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