Your Will Without Funding Is Just a Wish

If there were a way to be certain your will was fully funded, so your dreams didn’t die with the dreamer, wouldn’t that be worth knowing, even if you couldn’t take advantage of it today?

We often talk about the importance of having a will. But here’s the truth most people don’t hear:

Even the best-written will is useless, unless it’s funded.

Your will is your voice after you’re gone. It spells out your wishes, how you want your assets divided, who should care for your kids, what causes you want to support. But none of that happens unless there’s money in place to make it happen.

That’s what “will funding” is all about: making sure there’s actual cash available to carry out your wishes, without creating stress, debt, or delays for the people you love.

Too often, people assume that just having a will is enough. But a will doesn’t create the money, it just directs it. And if that money isn’t there? Debts go unpaid. Taxes eat away the estate. Family members are left to make impossible decisions, or worse, they’re stuck paying out of pocket for your final wishes.

Here’s what typically needs to be covered in a funded will:

• Final expenses, including funeral, burial, uninsured medical costs, and probate fees
• Outstanding debts
• Taxes owed
• Legal and accounting fees
• Support for a surviving spouse or children
• Any specific gifts or charitable bequests

Without funding, these responsibilities fall to your family, usually when they’re grieving and least prepared. But when your will is backed by life insurance, it’s like leaving behind a bag of tax-free cash that shows up exactly when it’s needed most.

Here’s the best part: life insurance lets you buy dollars for pennies. You’re creating financial certainty at a steep discount, often for just 1–2% of the value you want to guarantee.

You don’t have to be wealthy to fund your will. You just have to be intentional.

And if you’re a business owner, there’s another layer to consider. Many incorporate a secondary will to manage private shares and business assets separately, to minimize probate. That’s smart planning. But just like your personal will, your business will also needs to be funded, whether it’s to protect employees, partners, or the value you’ve built over time.

Even if you’re not ready to finalize your will today, you can still pre-fund it. Because while your will says what should happen, only will funding makes sure it can happen.

If you’d like to see what this could look like for you, just get in touch.

Andy Kovacs helps business owners and families achieve financial security. Featured in The Globe and Mail, Cottage Life Magazine, CTV, and Radio 640 Toronto, his expertise stands out. He believes offence makes the highlight reel, but defence wins championships—ensuring you’re ready for life’s financial moments of truth.

He is also President of Moments of Truth Insurance Services, a Sun Life advisor, and proud sponsor of the Markham Board of Trade’s Breakfast Networking Series.

🌐 www.sunlife.ca/andy.kovacs ☎️: (289)-818-1741 📧: andy.kovacs@sunlife.com
Andy Kovacs
President, Moments of Truth Insurance Services | Sun Life