Five Life Events That Should Send You Back to Your Will

A will is not a one-time document. It is a snapshot of your family, your assets, and your intentions at a single moment, and all three of those change.

Separation or divorce is the clearest trigger. In British Columbia, gifts to a former spouse and their appointment as executor are generally revoked on divorce, but relying on the default rules instead of updating the document leaves gaps, particularly if you separated but never formally divorced.

A birth or a death in the family is the second. New children or grandchildren need to be named or captured by a class gift, and the loss of a named executor or beneficiary can leave your will pointing at someone who is no longer there.

Buying real estate is the third. How title is held, jointly or as tenants in common, can matter more than the will itself for that asset. Getting these to work together avoids an unintended result.

A significant business change is the fourth: incorporating, taking on a partner, or selling. Shares need a succession path, and shareholder agreements often override what a will says.

The fifth is simply time. If it has been more than five years, book a review. Most updates are quick, and the peace of mind is out of proportion to the effort.