When Should You Update Your Will in Ontario?

Most people write a will and put it away in a drawer and forget about it. That makes sense. But life keeps moving after you sign that document, and in many cases, your will should move with it.

A will that made sense five or ten years ago may not reflect your current wishes, your current family, or your current finances. In Ontario, certain life events can affect how your will is interpreted, or whether parts of it still apply at all. Here are some common situations where it may be time to review your will.

Getting Married

Marriage can affect an existing will. Depending on when your will was made and the circumstances involved, marriage may, in some cases, affect how a prior will is treated. This is one of the most overlooked triggers for an outdated will, since many people assume their old will simply carries forward into the new chapter of their life. If you are recently married or planning to be, it is generally a good idea to review your will rather than assume everything is still in order.

Going Through a Separation or Divorce

If you separate or divorce, your existing will may still name your former spouse as a beneficiary or executor, depending on how the will was written and the timing of events. In some cases, a divorce may affect certain provisions involving a former spouse, but the rules can be detailed and fact specific, and separation alone does not always have the same effect as a finalized divorce. This is an area where reviewing your will with a lawyer after a separation or divorce is generally recommended.

Having Children or Growing Your Family

The birth or adoption of a child is one of the clearest reasons to update a will. Your will may need to address guardianship for minor children, how assets are to be held or managed on their behalf, and who you want involved in those decisions if something happens to you. This applies whether it is your first child or another addition to the family, and a will that does not mention a child at all can sometimes create confusion later on.

Buying a New Home or Major Asset

Purchasing a home, especially if it involves a new mortgage, joint ownership, or a change in how title is held, can affect your estate planning. The way a property is titled, whether solely, jointly, or with a right of survivorship, may affect how it passes on your death, sometimes independently of what your will says. If you have recently bought a home, it may be worth reviewing your will and speaking with a lawyer about how the asset is titled.

Starting or Changing a Business

Business ownership adds another layer of complexity to estate planning. If you start a business, become a partner, or your ownership interest changes, your will may need to address what happens to that interest, including succession and who is authorized to make decisions for the business after your death. In some cases, business owners may also benefit from a separate secondary will dealing with private company shares, depending on their circumstances.

Changes to Your Executor or Beneficiaries

The people you name as your executor or your beneficiaries are not necessarily fixed forever. An executor may move away or become unable to act, or you may simply change your mind about who you trust to manage your estate. Beneficiaries can change too, due to a falling out, a reconciliation, or simply a shift in your priorities. If the person you named years ago is no longer the right choice, your will should reflect that.

Major Financial Changes

A significant increase or decrease in your assets, a new investment, an inheritance, the sale of a major asset, or retirement can all affect whether your existing will still reflects your wishes. Estate plans are often built around the financial picture at the time they were written, and a major shift in that picture may mean parts of your will no longer make sense.

How Often Should You Review Your Will, Generally?

Outside of these specific triggers, many people choose to review their will every few years as good practice. This is not a strict legal requirement, but a periodic check in can help catch outdated information before it becomes a problem for your family or your estate.

A Few Practical Reminders

• Keep a copy of your current will somewhere your executor can find it.

• Review your will after any major life event, not just once every few years.

• Do not assume a verbal update or a note attached to your will is legally effective.

• Beneficiary designations on items like life insurance or RRSPs may need separate updates outside your will.

• If your situation has changed significantly, speak with a lawyer rather than making changes yourself.

Updating a will is rarely urgent in the moment, which is exactly why it tends to get put off. But the people who benefit from a current, accurate will are usually the people you care about most. Taking the time to review your will after a major life change may save your loved ones from unnecessary stress, confusion, or disputes down the road.

FREQUENTLY ASKED QUESTIONS

Q: I got married last year and never updated my will. Is my old will still valid?

A: It depends on the facts, including when the will was made and the specific circumstances of your marriage. In some cases, marriage may affect how a prior will is treated under Ontario law. Rather than assuming your old will still applies the way you expect, it is generally a good idea to have it reviewed by a lawyer so you understand where things stand.

Q: My ex-spouse is still named in my will after our divorce. What happens now?

A: This depends on the timing and details of your divorce and how your will was originally written. In some cases, a divorce may affect certain provisions involving a former spouse, but separation alone does not always have the same legal effect. Because outcomes vary based on the specific facts, you should speak with a lawyer to confirm how your divorce may have affected your existing will.

Q: Do I need a whole new will, or can I just make small changes?

A: In some cases, a minor change can be made through a separate legal document called a codicil, while more significant changes may call for a new will entirely. Which option makes sense depends on what is changing and how your existing will is structured. A lawyer can help you decide which approach fits your situation.

Q: I started a small business. Does that really affect my will?

A: It may, depending on how your business is structured and what you own. Business ownership can raise questions about succession, valuation, and who is authorized to manage the business after your death. Some business owners may benefit from additional estate planning tools depending on their circumstances. Speaking with a lawyer can help you understand what, if anything, needs to change.

CONTACT

If you have had a major life change and are not sure whether your will still reflects your wishes, the team at DevLaws can help you review your estate plan and talk through your options. Reach out to DevLaws today to book a consultation.

contact@devlaws.com  |  +1 437 290 0424  |  devlaws.com

Disclaimer

This article is provided for general information purposes only and does not constitute legal advice. Every situation is different, and the information above may not apply to your specific circumstances. You should speak with a qualified lawyer before making any decisions related to your will or estate plan.