When should I update my will?

It's a good idea to review your will every few years to see if it needs to be updated. Some things may be different in your life or the law may have changed.  

For example, it's very important to review your will when:

• you go through a major life event, for example, when you:
  • get married, separated, or divorced
  • start a common-law relationship
  • become a parent
• there are big changes in your financial situation
• your estate trustee's situation has changed, or they've died
• you want to add or remove beneficiaries
• you move to another province or territory

Read your will to make sure it still says what you want to happen when you die. And make sure it deals with the property and debts you now have. If it does not, you should update your will.

Writing directly on your will after it's been signed does not always change your will. You have to follow strict rules to make the change valid.

If you make a mistake, the court may have to decide whether your will is valid. This can cost a lot of money and take a long time.

In most situations, the best way to update your will is to make:

• a codicil, or
• a new will.

A codicil is a separate legal document that's made in the same way as a will. A codicil is usually made when you have small changes to your will. For example, if you want to add or remove a beneficiary. Or, if you want to change the amount of money you're leaving someone.

Mentally capable

You can change or update your will at any time, as long as you're mentally capable. Being mentally capable means that you understand:

• why you're making a will and the impact it will have
• how much property you have
• which dependants should be beneficiaries and the claims they might have if you do not leave them property in your will

Your will can be challenged if you make it when you're not mentally capable or if you do not include dependants.

Get legal help

It's a good idea to talk to an estates lawyer if you're thinking about changing your will or making a new one. They can explain when you need to make a new will and what can happen if you do not.

If you have a large or complicated estate, it might also be a good idea to talk to a financial advisor as well as an estates lawyer.