Willful Partners with Wealthsimple

Toronto-based digital will planner Willful has partnered with Wealthsimple to allow it to offer the first fully-digital option in Canada to open a RESP – Registered Education Savings Plan – and create a will online.

A RESP is a government sponsored saving and investment account designed to help parents save for their child’s post-secondary education. Parents can make contributions and build tax-free earnings, but what’s even better is that the federal government will also contribute money to the RESP in the form of a grant or bond.

Wealthsimple’s RESPs are invested in smart, low-cost, diversified portfolios so parents’ education savings grow over time. Contributions to an RESP receive matching grants from the government, and some families are eligible for additional funds.

Launched in 2017 to help the 16 million Canadians who don’t have up-to-date wills, Willful is the first estate planning platform to partner with Wealthsimple. Its platform helps Canadians easily create a customized legal will online in less than 20 minutes, guiding users through a series of questions about their unique life situation, and allowing them to outline their executor, guardians for minor children or pets, beneficiaries, specific or charitable gifts, and burial and funeral wishes. The service costs under $249, with free updates at any time.