5 Life Changes That Require You to Update Your Will (Before the New Year)
As the end of the year approaches, many people take stock of their goals, finances, and personal affairs. But one often-overlooked task that deserves a fresh look is your will. Even if you already have one in place, significant life changes can quickly make your will outdated — leaving your wishes unclear or, worse, legally challenged.
In British Columbia, your will serves as a foundational document for your estate plan. It outlines how your assets will be distributed, who will carry out your wishes, and how dependents will be cared for. Yet, too often, once it’s written, it’s set aside and forgotten — even as life moves on. This article outlines the most common life changes that may require a will update, particularly before the start of a new calendar year.
1. Marriage, Divorce, or a New Common-Law Relationship
Changes in your relationship status can significantly impact your estate plan. In British Columbia, marriage does not automatically revoke a will, unlike in some other provinces. If your will was created before your current relationship, it may no longer reflect your intentions.
After marriage, you may wish to:
- Include your new spouse as a beneficiary
- Name your spouse as an executor
- Adjust distributions to accommodate blended family structures
Following divorce or separation, you may want to:
- Remove your ex-spouse from decision-making roles
- Modify beneficiary designations
- Reconsider guardianship appointments for shared children
When entering a common-law relationship, which may be recognized after two or more years of cohabitation in BC, your partner may have legal rights to your estate — even without being named in the will. Ensuring clarity in your documents helps avoid complications for your estate and your loved ones.
Callout:
Failing to update your will after a relationship change can result in unintended inheritances or legal disputes between former and current partners.
2. Birth or Adoption of a Child or Grandchild
The addition of children or grandchildren to your family is a major life event that should be addressed in your will. A properly updated will can ensure their financial security and legal protection in the event of your death.
Considerations may include:
- Naming a guardian to care for minor children
- Establishing a trust to manage inheritance until children reach a mature age
- Allocating specific assets or percentages of your estate to new family members
If you already have children named in your will, you’ll want to ensure that new additions are included equally (or intentionally not, depending on your preferences). Without these updates, some family members could be unintentionally excluded.
Tip:
A guardianship clause should include both a primary and alternate guardian, and be reviewed regularly as relationships and circumstances evolve.
3. Significant Change in Assets or Financial Status
An estate plan is built around your financial landscape. When that landscape shifts, your will should be updated to reflect the change.
Life events that may trigger this include:
- Purchasing or selling a home or other real estate
- Inheriting or gifting large sums of money or property
- Starting, acquiring, or closing a business
- Investing in new financial accounts or instruments
In these cases, your will should be reviewed to:
- Add or remove specific bequests
- Adjust the distribution of your estate to reflect new assets
- Account for tax implications related to new investments or property ownership
Keep in mind that many assets, such as registered accounts (RRSPs, RRIFs, TFSAs) and life insurance, pass outside of your will. Even so, it’s important to align your will with these accounts to ensure consistency across your broader estate plan.
4. Death or Change in Circumstances of an Executor or Beneficiary
Executors play a key role in managing your estate after your death. If the person you’ve named is no longer able or appropriate to serve, your will should be updated immediately.
Similarly, beneficiaries named in your will may pass away, become estranged, or experience life changes that prompt you to reconsider their role in your estate.
You may need to:
- Name a new primary or alternate executor
- Reallocate a portion of your estate
- Remove or replace a beneficiary
- Appoint new guardians or trustees
When these changes aren’t addressed, your estate could be subject to delays in probate or decisions made by the courts rather than your documented intentions.
Reminder:
Naming alternate executors and guardians adds a layer of protection against the unexpected.
5. Moving to a New Province or Country
Relocating can affect the legal validity of your will. Estate laws vary across provinces in Canada and between countries, particularly regarding formal signing requirements, marital property regimes, and probate procedures.
In British Columbia, the Wills, Estates and Succession Act (WESA) governs how wills are made and executed. A will created under different provincial or international laws may not comply fully with WESA, even if it appears comprehensive.
In these cases, consider the following:
- Ensure the document complies with BC’s witnessing and signing standards
- Review how property is classified in BC (e.g., joint tenancy, family property, excluded property)
- Adjust executor appointments to include someone with legal standing or availability in your new location
Updating your will after a move ensures it remains enforceable and reflects the legal framework of your current jurisdiction.
6. Changes in Tax Legislation or Estate Laws
Although not tied directly to personal events, changes in legislation can significantly affect your estate plan. Updates to federal or provincial laws may alter how your assets are taxed, how probate is handled, or which exemptions and deductions are available to your estate. Even subtle shifts in policy can have far-reaching effects on your beneficiaries and the overall efficiency of your estate distribution.
An outdated will that does not account for recent legal changes could inadvertently result in higher taxes or administrative complications. For example, tax rules affecting capital gains or charitable giving may influence how you wish to allocate your estate. Trust structures may need to be revised to maintain compliance with new regulatory standards, and previously beneficial strategies may become less advantageous under updated laws.
Regularly reviewing your will in light of legislative changes allows you to reassess and refine your estate plan. This might include modifying bequests, updating executor powers, or revising trust arrangements to better reflect current requirements. While these legal updates may not stem from personal events, their impact on your estate can be just as significant.
The Value of Periodic Will Reviews
Updating your will isn’t just a one-time task — it’s an ongoing responsibility that ensures your estate plan remains accurate and reflective of your current situation. As time passes, even without dramatic life events, personal relationships, financial circumstances, and legal interpretations can shift in ways that make previously sound decisions outdated or incomplete.
A strong estate plan should evolve as you do. It’s recommended to review your will every few years to confirm that your named executor, guardians, and trustees are still appropriate and willing to serve. It’s also essential to ensure that your asset listings reflect your current holdings and that all instructions are clearly stated to minimize the risk of misinterpretation.
Periodic small adjustments can be simpler and more cost-effective than a complete revision later. More importantly, keeping your will current reduces the chance of court involvement in settling your affairs and gives you peace of mind knowing that your intentions are legally documented and enforceable.
Conclusion
Preparing a will is an important step in estate planning, but it’s equally important to revisit it as your life circumstances evolve. Whether due to relationship changes, new family members, shifts in financial standing, or changes in the law, your will should reflect your most current wishes and realities. Failing to update your will can create confusion, delay, and added emotional strain for your loved ones at an already difficult time.
By reviewing your will regularly and making necessary updates, you help ensure that your estate is managed smoothly, your beneficiaries are protected, and your intentions are honoured. The end of the year offers a natural opportunity to reflect on recent changes and take action if needed.
Frequently Asked Questions
How often should I review my will?
Every 3–5 years, or immediately after any major life change such as marriage, divorce, moving, acquiring property, or the birth of a child.
Can I make small changes to my will without redoing the entire thing?
Yes. Minor updates may be handled with a codicil, a legal document that amends part of your will. For multiple or complex changes, a new will is usually recommended.
What happens if I move to BC from another province or country?
Your will may still be valid, but it should be reviewed to ensure compliance with BC’s Wills, Estates and Succession Act (WESA). This includes verifying signing procedures, executor eligibility, and property classification.
What are the risks of not updating my will?
An outdated will can lead to unintended beneficiaries, disputes among heirs, delays in probate, or portions of the estate being distributed by intestacy laws rather than your instructions.
What types of assets aren’t typically governed by a will?
Assets with named beneficiaries (such as life insurance, RRSPs, or TFSAs), jointly held property, and assets held in trust usually bypass the will and are handled separately.
