All About Estates

I’ve prepared my Will, now what?

A recent contribution discussed the consequences of dying intestate – that is, without a valid Will. In most cases, intestacy results from the failure to prepare a Will. However, an intestacy – in full or in part – may also result where the Will is invalid.

A Will may be invalid where certain formal requirements have not been met; for example, the Will has not been properly witnessed. Of surpise to many people, is the fact that a change in your personal circumstances may also invalidate your Will.

A recent article in the The Globe and Mail outlines some of the circumstances which can affect your Will.

For example, marriage generally revokes a Will. In the case of divorce, your Will remains valid, but is read as if your ex-spouse predeceased you.  And beware, separation has no affect on your Will.

For more than half of Canadians, step one is to have a Will and Powers of Attorney prepared. Step two, is to periodically review the documents to ensure they remain valid and continue to reflect your wishes.

About Elaine Blades