Your estate plan, including your Will and Power of Attorney documents, protects your wishes and provides clarity and support to your loved ones after your passing.
What said, preparing your estate plan isn’t a “one and done” exercise. As your life changes, your estate plan should change with you. Even a well-drafted Will may become outdated over time if it no longer reflects your family situation, financial picture, or personal priorities.
When Should You Consider Updating Your Will?
It’s a good idea to review your Will and Powers of Attorney periodically to ensure your estate plan continues to reflect your current wishes and circumstances. Certain life changes may signal that it’s time to revisit your documents, such as:
- Marriage, separation, or divorce
- Birth or adoption of children or grandchildren
- Children becoming adults
- Buying or selling a home, cottage, or investment property
- Starting, acquiring, or closing a business
- A significant change in financial circumstances
- The death of someone named in your Will (executor, beneficiary, guardian, trustee)
- A shift in your relationships or family dynamics
- You simply feel differently now about how you want to leave your legacy
Even if nothing major in your life has changed, a periodic review helps ensure your documents remain practical, clear, and aligned with current law and best practices.
Why Keeping Your Estate Plan Current Matters
An up-to-date estate plan:
- Ensures your assets are distributed according to your wishes
- Reduces stress and uncertainty for your loved ones
- Helps avoid unnecessary legal costs, taxes or delays
- Gives clarity and authority to the people you trust to act for you
Most importantly, it gives you peace of mind.
We’re Here to Help
If you would like to review your current Will or Powers of Attorney, or if you have never prepared them before, our estate planning lawyers are available to discuss your goals and help create a plan that reflects your needs now and into the future.
To schedule a consultation, please contact us at 519-804-2208 or email info@wayforth.ca
