Your life circumstances are bound to change over time, which could affect your estate plan. Think of estate planning as an ongoing process – not a one-time event.
Life events that can affect your estate plan
Not every change in your life will require a change to your estateEstate The total sum of money and property you leave behind when you die.+ read full definition plan, but consider reviewing it if any of these life changes occur:
marriage or common law partnership
birth or adoption of a child
separation or divorce – of you or a family member
death of a spouse, family member or executorExecutor Someone you name to carry out the wishes that you set out in your will after your death. May be named by the court if you don’t name one. In Ontario, an executor is called an estate trustee.+ read full definition
move to another province or out of country
major change in financial or business situation (such as an inheritanceInheritance Property, money, titles, or debts that pass to you after someone’s death.+ read full definition or bankruptcy).
Your wishes may change over time, even if no life events have occurred. It’s worth reviewing your estate plan every few years to confirm that it still reflects your wishes.
Moving to another province or out of country could require a change to your will.