You can change your Will at any time. Wills should be reviewed if any of the following events occur (list not being exhaustive):
- Death or incapacity of executors or guardians.
- A desire to change executors, beneficiaries, guardians, etc.
- Birth of a child/adoption.
- A child or beneficiary becomes disabled.
- If you and your spouse separate, a new Will should be completed as a Separation Agreement does not revoke a bequest to a spouse in a Will.
- A Divorce Judgment does not revoke a bequest to a spouse and a new Will should be completed following a divorce.
- Re-marriage revokes your entire Will and a new Will must be completed.
- Change of your name or the name of anyone mentioned in the Will.
- Disposition of property specifically mentioned in the Will.
- Acquisitions of assets outside the province or business assets or a substantial increase in assets necessitating estate planning (ex. Winning the lottery).
- In general, your Will should be reviewed every five years with a lawyer.
As a rule of thumb, reviewing your estate plan every five (5) years is a great practice to safeguard your interests.
The information provided on this site is for information only and does not create a solicitor-client relationship with the firm. The material is commentary and it does not constitute specific legal advice to the reader. Please consult a lawyer for advice specific to your case.