Whenever we do presentations on Estate Planning in and around Edmonton, we always hear the same question… ”how often should someone update their Will?”
There is no real answer to that question because everyone’s situation is different. What we recommend is that that you review your Will whenever there is a change in your life, such as the birth of a child, a large inheritance, or a diagnosis of a critical illness.
In addition, we recommend that a Will be taken out and looked at every three to five years. You would be amazed by the number of clients who contact our office and tell us that the person named as their Executor in their will has been dead for several years or that they are no longer in contact with that person. THAT creates problems.
When reviewing your Will look for the following items:
If you answered “no” to any of these questions, contact our office for a review of your Will as it may not be deemed valid by the Alberta Court system. Our lawyers are experienced at writing Wills and other estate planning documents. We are here to help!
Remember by taking the time to review your Will and ensure it is still valid, you are leaving your family with solutions and not problems.