Making a Will is not a do-it-once-and-forget-it-forever kind of task. Like your weekly meal plan, your Will is a constant planning task because life - and the people in it - keeps changing.
The statistics suggest many if not most of us do NOT have a current Last Will & Testament, even if we are leaving assets or children after our death. But the question is: did you know that making a Will is not a do-it-once-and-forget-it-forever kind of task?
Instead, like your weekly meal plan, your Will is a constant planning task. It is the primary legal document to answer the important questions after our death - WHO has the authority to administer our estate? WHO is to receive our net estate? WHO will parent our children?
You need to review your Will often. If your facts change - a different beneficiary, a new executor, a new child, a new marriage, a new property - then your Will must change.
Sea to Sky Law™ recommends a Will review at every major life event, and as part of your twice-yearly Legal Checkup. The cost of updating a Will is tiny compared to the cost of having the wrong Will - or no Will at all.
Why Your Will Is Never Truly "Done"
Many people make a Will once - typically in their 30s or 40s, often prompted by the birth of a child or the purchase of a home - and then file it away without ever revisiting it. Years pass. Circumstances change dramatically. And the Will that once accurately reflected their wishes now produces outcomes that are unfair, unintended, or legally problematic.
A Will is a snapshot of your intentions at a specific point in time. As your life changes, so must your Will.
Life Events That Require a Will Review
Marriage: In British Columbia, unlike most other Canadian provinces, marriage does not automatically revoke a Will under the Wills, Estates and Succession Act (WESA). However, marriage is a critical trigger for review. Your new spouse may not be adequately provided for under your existing Will, and your beneficiary designations on registered accounts and insurance may need to be updated.
Separation: Separation does not automatically revoke gifts to a spouse under BC law - only divorce does. Under WESA s.56, gifts to a former spouse are revoked upon the making of an absolute divorce order. This means that if you separate but have not yet divorced and you die, your estranged spouse may still inherit under your existing Will. A Will review immediately upon separation is essential.
Divorce: Once your divorce order is made, gifts to your former spouse are automatically revoked under WESA. But the rest of your Will remains in effect - including any appointment of your former spouse as executor, which is also revoked. If your Will named only your former spouse as executor and sole beneficiary, your estate will be administered under intestate rules, which may not reflect your wishes at all.
Birth or adoption of a child: A new child should be specifically named in your Will. More importantly, confirm that your guardian appointment covers all your children and that alternate guardians are named.
Death of an executor or beneficiary: If a named executor or beneficiary has died, update your Will immediately. A gift to a predeceased beneficiary may lapse or may pass to that person's children - which may not be what you intended.
Significant change in assets: If you have acquired or disposed of major assets - bought a new home, sold a business, received a large inheritance - review your Will to ensure your distribution plan still makes sense in light of your current estate.
The Wills Variation Risk Grows Over Time
BC's WESA gives a spouse or child the right to challenge a Will that fails to make adequate provision for their maintenance and support. A Will made when your children were young and your estate was modest may be legally vulnerable decades later when your estate has grown substantially. Regular Will reviews allow your lawyer to assess whether your existing Will is likely to withstand a wills variation challenge - and to recommend adjustments that reduce that risk while still carrying out your true wishes.
Codicils vs. New Wills
When updates are needed, there are two approaches: amending your Will with a codicil (a formal amendment that meets the same signing requirements as a Will itself) or making an entirely new Will. For minor changes, a codicil may be sufficient. For significant changes - new beneficiaries, a new executor, or a substantially different distribution plan - a new Will is usually cleaner and less likely to create ambiguity.
Sea to Sky Law™ provides Will review, Will updating, and new Will drafting to clients across all of British Columbia. Andrew Liggett BA JD CD brings decades of experience to ensure your Will remains current, clear, and capable of carrying out your true wishes. Contact us today for a Will review.