5 Material Changes – Is it Time to Review Your Legal Documents?

Material Changes

  • Birth in the family – Any additional children/grandchildren to include or consider?
  • Death in the family – Review your beneficiaries and/or possibly change your executor, power of attorney, guardian, or trustee
  • Change in marital status – Be it a first marriage, second marriage or divorce, how does this impact the distribution of assets?
  • Change in financial situation – Have you bought or sold a property or business? Have you received an inheritance?
  • Relocation – Depending on where you now reside, provinces or countries may have different estate laws

Change in Legislation

Speak with a lawyer to see if any changes in legislation have impacted your estate plan (Example: In 2022, Bill 245 was introduced in Ontario)

Final Tip

Now that your documents are up to date, do your loved ones know where to find them?