Does Your Will Need an Update?

Here are some considerations to assess whether your Will needs an Update:

  1. Are you over 18?
    1. If yes, complete this quiz
    2. If no, thank you for looking at this and please return when you are 18.
  2. Do you have a will?
    1. If yes, give yourself 10 points
    2. If no, give yourself 0 points
  3. Did you update your will for any significant life events like marriage, divorce, birth of a dependent, purchase of a house, or move to another province/country?
    1. If yes, give yourself 10 points
    2. If no, the validity of your will may be in question. Take away 10 points.
  4. Are your Executor, guardian and/or trustee still able to perform the responsibilities you assigned through your will?
    1. If yes, give yourself 10 points
    2. If no or unsure, give yourself 0 points
  5. Have you reviewed your will in the last 5 years to reflect the changes in the ages and maturity of your dependents?
    1. If yes, give yourself 10 points
    2. If no, take away 10 points.

Results of your score:

40 points – Your will may not require immediate attention and you should consider the other factors of Getting Your Affairs in Order. Reflection on changes in your personal life and the impact on your beneficiaries is part of that. Other quizzes may identify a need to update your will.

0 points – The ramifications of not having an up-to-date or valid will may create significant issues for your dependents or if you are single for your parents, if they survive you.  It is recommended that you contact your legal counsel to create or update your will.

Note that each Province has requirements for updating your will when a  major life event occurs. The list above may not be all-inclusive. Contact your legal counsel for more information.