CAN YOU UPDATE YOUR WILL IN CANADA?

You’ve completed your will, but now you want to make changes. Can you? Yes! A will in Canada can be updated after it has been written.

There are countless reasons a person might want to update their will: changes in financial situation, wanting to alter the distribution of assets, and wanting to appoint different people to execute the will are just a few examples.

How Can A Will Be Updated?

There are three ways in which a will can be updated. These are making a codicil; making amendments directly in the will; and revoking an old will.

Making a codicil

A codicil is a separate statement outlining the changes being made, and is attached to your will. It prevents you from having to make amendments to the will directly, and is signed and witnessed.

Usually, a codicil is used when only minor changes are being made. These might include changing your executor (i.e., the person carrying out the will), adding a new beneficiary, or modifying a specific gift.

Making amendments directly in the will

Minor changes can also be made through handwritten amendments in the will itself. In order to be legally binding, these amendments must be accompanied by the signature of the testator (i.e., the person who wrote the will) as well as witness signatures.

Revoking an old will

To avoid making any amendments at all, a person may simply create a new will and revoke the old one. This method is especially convenient when you want to make significant changes to your will in response to major life events such as marriage or divorce.

Note that, when making a new will, you must mention at the very beginning that it revokes all previous wills and any codicils. If this is not expressly stated, the validity of the new will could potentially be challenged.

Life circumstances change. That’s why we recommended you review your will every two years, or following a major life event. If you do decide to change your will, the method you choose will likely depend on the type of change you want to make.

We Can Guide You!

Updating your will is a necessary step in making sure that your estate is dealt with according to your wishes. To ensure that your changes have legal force, it is essential to follow the proper procedures. For legal advice on estate planning, get in touch with the lawyers at Ayaz Mehdi Professional Corporation.

Disclaimer:  Kindly note that sending or receiving information through this site does not establish a solicitor-client relationship. Legal matters are fact-specific, and the law is constantly changing. The views expressed and the content provided on this blog are general guidelines and are not a substitute for proper legal advice. Schedule your legal consultation by clicking here: Let’s meet!