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Why Should You Have a Will?
 | You will be the one to choose the guardian of your children. |
| you will choose how your assets are distributed. However, your will can be challenged in certain circumstances. See Who can challenge a will. |
| You will choose your executor. |
| Your estate will be settled more easily, quickly and cheaply than if you die intestate (without a will). |
In some provinces, a will is automatically revoked upon the marriage of the testator (will writer).
For information regarding what happens in each province, see What to do when someone dies, which has links to wills and estate information on provincial/territorial websites.
Multiple Wills
Multiple wills, which are legal in some provinces, can help to reduce probate fees. A second will can be used for shares held in private companies, or possibly other assets.
A Will For Canadian Property and Foreign Property
Do you have property in a foreign country? If so, you should read the article A Will For Canadian Property And Foreign Property by Vanessa Dedomicis, Partner at Pushor Mitchell LLP.
Make Sure Your Will Complies With Current Legislation
It is advisable to have your will reviewed occasionally by a notary or lawyer, in particular if the legislation in your province regarding has been revised in recent years. A review can help to ensure that your wishes will still be upheld under the latest legislation.
Keeping Your Will Up To Date
As your situation changes, it's important to make sure your will still reflects your current intentions. Some of the reasons why you may want to rewrite your will:
| you have married or started living common-law, |
| you have become separated or divorced, |
| you have moved, in particular to a different province or country, |
| you now have children, and didn't when your will was written, |
| your minor children are now adults, |
| you now have grandchildren, |
| your named executor has passed away or moved out of the area or province, |
| you would like to name a different executor, such as an adult child, |
| your spouse or any of your beneficiaries have passed away, |
| your financial situation has changed, causing you to want to change your bequests |
Tips:
- Having a will (or 2), and keeping it up to date, can reduce problems and leave more of your estate for your heirs.
- Make sure you have your will prepared or reviewed by a legal professional to ensure it complies with current provincial legislation.
Revised: October 29, 2024