How often should I review my Will?

You should review your Will whenever there has been a material change in your affairs. This could be a birth, death, marriage or marital breakdown in your family, a death or change in circumstances of a guardian or executor-trustee named in your Will, a substantial change in your assets or liabilities, or a change in tax legislation. Under the Wills Estates and Succession Act, marriages after March 31 2014 no longer revoke a Will – but you should still get legal advice re the implications of your marriage on your estate planning.

Your Will should also be reviewed periodically even if you are not aware of any changes in circumstances which may affect the Will. This will allow you to re-examine the provisions in your Will for young beneficiaries as they grow older, to consider whether a change of executor may be appropriate and whether your Will reflects your current wishes as to the distributions of the assets you then may hold.