Annual Will Review Checklist for Canadians

An annual Will review takes 15-30 minutes and catches the most common problems before they become serious. Pick a consistent date (your birthday, tax filing time, year-end) and run through this checklist.

The 15-30 minute annual review #

Part 1 — Document location and accessibility (2 minutes) #

• Original Will is in known, accessible location
• Power of Attorney for property is current and accessible
• Power of Attorney for personal care is current and accessible
• Advance directive (if separate) is current and accessible
• Executor knows the location of these documents

Part 2 — Executor and guardian check (3 minutes) #

• Named executor is still alive
• Named executor is still willing (had a recent conversation)
• Named executor still has capacity for the role
• Backup executor is also still appropriate
• Guardian for minor children (if applicable) is still appropriate
• Backup guardian is still appropriate
• Communicate with executor/guardian if anything has changed

Part 3 — Beneficiary designations on registered accounts (10 minutes) #

These pass OUTSIDE the Will. Check each:

• RRSP — login to each institution; verify designated beneficiary and contingent
• RRIF — same as RRSP
• TFSA — verify successor holder (spouse) or designated beneficiary
• Life insurance — each policy; verify beneficiary and contingent
• Group life insurance through employer — verify with HR
• Pension plan(s) — defined benefit and defined contribution
• Other registered accounts — RESP, RDSP, others

Update immediately if any are outdated.

Part 4 — Life events since last review (3 minutes) #

Any of these triggers full Will update consideration:

• Marriage or common-law partnership formation
• Divorce or separation
• Birth or adoption of a child
• Death of executor, beneficiary, guardian, or trustee
• Significant inheritance received
• Significant asset acquisition or sale (real estate, business)
• Move to different province
• Move outside Canada or return from abroad
• Significant health diagnosis
• Major change in family relationships
• Significant change in tax situation

Part 5 — Asset and liability review (3 minutes) #

• Major assets list is approximately current
• No major assets acquired since last update (cottage, business, foreign property)
• No major assets sold since last update
• Debt level approximately as expected
• Insurance coverage still appropriate

Part 6 — Specific provisions review (3 minutes) #

• Specific bequests still make sense (named items still in possession; named recipients still appropriate)
• Charitable bequests still align with values
• Distribution ages and conditions still appropriate
• Funeral preferences still current
• Any specific instructions or letter of wishes still accurate

Part 7 — Contact and current information (3 minutes) #

• Beneficiaries' contact information still accurate (addresses, phone)
• Executor's contact information still accurate
• Guardian's contact information still accurate
• Lawyer or estate planning professional contact (if applicable) still current

Part 8 — Action items (5 minutes) #

For any item identified above:

• Update beneficiary designations directly (online or by form to institution)
• Schedule full Will update if major changes identified
• Update Power of Attorney if relevant changes
• Communicate with executor/guardian about any changes
• Note items for next year's review

When to escalate from review to full update #

Definitely update:

• Marriage or divorce — in some provinces marriage still revokes an earlier Will (several, including Ontario, British Columbia, Alberta, and Saskatchewan, have abolished that rule), and divorce commonly cancels gifts to a former spouse rather than the whole Will; rules vary by province
• Birth of child not currently named or covered
• Death of executor or guardian (need new designation)
• Move to different province (specific provincial provisions may apply)
• Significant asset change requiring different distribution approach

Consider updating:

• 5+ years since last update
• Health diagnosis suggesting future capacity issues
• Family conflict suggesting need for clearer provisions
• Tax law changes affecting your situation

Don't need to update:

• Routine asset value changes
• Contact information changes (beneficiaries can still be identified)
• Specific items moved to different storage (if they're identifiable in Will)

Documentation of review #

Keep a brief note of when you reviewed and what (if anything) you found:

"Annual Will review completed 2026-05-27. Verified executor (brother John) and guardian (sister Mary) still willing. Updated RRSP beneficiary at TD Direct (had old contingent — added current contingent). All other items unchanged. Next review 2027-05-27."

Simple record helps next year and demonstrates ongoing maintenance if ever needed.

What if you find a major issue #

Action depending on issue:

Beneficiary designation outdated: Update directly with institution (online or form). Takes minutes per account.

Life event triggered Will revocation: Make new Will (online service or lawyer). Don't delay.

Executor or guardian no longer appropriate: Make new Will or codicil to change designation.

Significant change requiring new structure: Full Will update with online service or lawyer.

Capacity concerns: Consider lawyer-assisted update with capacity assessment while you still clearly have capacity.

What we focus on at It's Simple Will #

The Will Creator makes updates easy — return to your account, make changes, regenerate the Will, sign with witnesses. Many users do annual checks here and update every 2-3 years.

Related guides #

• How often review estate plan
• How to update beneficiary designations
• Canadian Will preparation checklist
• Estate planning during the holidays