How Long Since You Updated Your Will? Canada 150 Recommendation #13

Wednesday’s= Succession

I have been told that humans cannot conceive of their own death. This would help explain why most of us are so reluctant to prepare or update our wills.

Whether you want to think about it or not you are going to die. Perhaps you do not care about how much tax your estate is going to have to pay because, after all, you are not going to be around. However, if you will be leaving loved ones behind it would be kind of you to have your affairs in order.

When I talk about wills with my clients I rarely hear that these wills are up to date and have been recently reviewed. Occasionally, I will see a will that still talks about the guardians who would be appointed to care for the children and these children are in their thirties! There is no real harm in this, but a more serious problem is when relationships have dissolved and wills are not updated. Would you really want to have left all your worldly goods to a person you have divorced?

Make a plan to update your will if any changes have taken place in your life since you last looked at your will.

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