When Should I Review My Will?

By Vanessa DeDominicis

If you have an existing Will, that’s a great start. However, as your life changes, so do your estate planning needs. Estate planning should be viewed as a process, not as a one off event. As you progress through the journey of life, things happen that require you to address your Will. Furthermore, with upcoming changes in the law relating to Wills and Estates, now is a great time to review your estate plan.

As a guide, the life events listed below should always trigger an estate plan review and update:

  • Marriage, divorce, or separation;
  • Birth or adoption;
  • Death, disability, or serious illness;
  • Change in business interests;
  • Increase in asset values;
  • Decrease in asset values;
  • Retirement or unemployment;
  • Acquisition of real estate (especially if real estate is in another Province or even another country);
  • New to this Province;
  • Move to another Province; and
  • Changes in the law relating to Wills and Estates.

For more information on updating your Will, trust, or other estate planning documents and to discuss your specific circumstances, please contact Vanessa DeDominicis on 250-869-1140 or dedominicis@pushormitchell.com