Why Review Your Will Before Year-End | Alberta Estate Planning

The end of the year is a natural time to take stock of your finances, goals, and the plans that shape your family’s long-term security. One item many people forget—but should absolutely review—is their will.

A will is not a “set it and forget it” document. It must reflect your current life, assets, relationships, and intentions. When it doesn’t, your estate may be distributed in ways you never intended. Year-end is one of the best times to catch outdated provisions, update key appointments, and make sure your estate plan still protects the people who matter most.

This guide explains why reviewing your will before December 31 is so important, what to look for, and how a wills and estates lawyer can help you prepare for the future with clarity and confidence.

Why Year-End Is the Ideal Time to Review Your Will

Most people only think about their will when a major life change happens. While those moments do require updates, reviewing your will annually—especially at year-end—provides several advantages:

• You are already reviewing financial and tax matters
  
• You can easily identify changes from the past 12 months
  
• You can prepare before holiday travel or family gatherings
  
• You start the next year with a complete and updated estate plan
  

Estate planning Alberta laws are straightforward in principle, but the details of life change quickly. A small oversight today can create expensive complications for your family tomorrow.

Whether your will is a few years old or decades old, a quick annual review ensures your intentions remain clear and enforceable.

What Can Happen When Your Will Is Outdated

An outdated will can lead to confusion, disputes, and unintended outcomes. In Alberta, if parts of your will no longer reflect your wishes or circumstances, your estate may face:

• Incorrect distribution of assets
  
• Executors who are no longer able or willing to serve
  
• Ex-spouses or estranged family members remaining in key roles
  
• Outdated guardianship designations
  
• Assets passing outside the will due to changed ownership
  
• Additional delays or costs in probate Alberta courts
  

Many people are also surprised to learn that marriage, separation, divorce, or changes in property ownership can impact the validity or interpretation of certain provisions.

Your will should evolve as your life does.

Key Moments That Require an Updated Will

Before year-end, ask yourself whether any of the following occurred this year or in recent years:

1. A New Relationship or Separation

Changes in marital or common-law status have major implications for:

• Inheritance rights
  
• Spousal claims
  
• Property division
  
• Executor roles
  

If you have separated but not yet divorced, your ex-partner may still have legal standing unless you update your will.

2. Births, Deaths, or Changes in Family Structure

This includes:

• New children or grandchildren
  
• Death of a named beneficiary
  
• Changes in stepfamily or blended family dynamics
  

Your will should reflect who you want to receive your estate today, not who you intended years ago.

3. Changing Financial Circumstances

Common examples include:

• Buying or selling real estate
  
• Acquiring new investments or business interests
  
• Debt changes
  
• Significant increases or decreases in net worth
  

Your estate plan must reflect your current assets to ensure proper distribution.

4. Choosing New Executors or Guardians

An executor is responsible for administering your estate. A guardian may raise your minor children.

Year-end is an ideal moment to ask:

• Are they still willing and able to act?
  
• Do they still live nearby? For executors: if they are still Canadian residents. If you pass away and your executor is not a Canadian resident at that time, your estate will be taxed at much higher rates.
  
• Are they still the right choice?
  

Life changes quickly—your will should keep pace.

5. Updating Your Personal Directive and Enduring Power of Attorney

A personal directive in Alberta outlines your medical and personal care wishes if you cannot make decisions yourself. If your views on medical treatment, end-of-life care, or decision-making have evolved, your personal directive should be reviewed alongside your will. 

Your enduring power of attorney appoint an attorney to manage your financial affairs if you lose mental capacity to make financial decisions on your own. It’s very important to make sure that you still trust the person you have appointed as your attorney to avoid any negative consequences. 

6. Changes in Tax Laws or Probate Rules

Probate Alberta rules can impact how your estate is administered, how long the process takes, and what documents must be submitted.

A year-end legal review ensures your estate plan remains compliant and efficient.

What to Look for When Reviewing Your Will

When reviewing your will before year-end, focus on the following areas.

1. Beneficiaries

Verify that your will correctly lists:

• Spouse or partner
  
• Children and grandchildren
  
• Stepchildren (if applicable)
  
• Charities
  
• Friends or other beneficiaries
  

Make sure no unintended individuals remain listed, such as former partners or people who have passed away.

2. Executors and Alternates

Executors should be:

• Capable
  
• Trustworthy
  
• Willing
  
• Available
  

If your executor has moved away, aged significantly, or is no longer appropriate, update this section.

3. Guardians for Minor Children

Legal guardians determine who raises your child if something happens to you. This is one of the most important parts of your will.

Confirm that your chosen guardian(s):

• Are still willing and able
  
• Share your parenting values
  
• Live in a suitable location
  

4. Distribution of Assets

Ask yourself:

• Have I added or sold property?
  
• Has the value of my estate changed significantly?
  
• Have my intentions changed regarding who should inherit?
  

Outdated asset descriptions are one of the most common issues probate courts encounter.

5. Trusts and Conditions

Many Albertans create trusts for minor children, blended families, or vulnerable beneficiaries.

Review:

• Age thresholds
  
• Distribution conditions
  
• Trustee selection
  

Trust provisions often require updating as circumstances change.

6. Alignment With Your Personal Directive and Enduring Power of Attorney

Your complete estate plan includes:

• Will
  
• Personal Directive (living will)
  
• Enduring Power of Attorney
  

All three documents should function together and be updated at the same time for consistency.

The Benefits of Reviewing Your Will Before Year-End

Peace of Mind

Knowing your will is current means your family is protected if anything unexpected happens.

Smoother Probate

The probate Alberta process becomes far more efficient when documents are current, clear, and legally sound.

Avoiding Disputes

Up-to-date wills reduce the risk of family conflict, challenges, and costly court involvement.

Tax and Financial Planning

A year-end review allows you to coordinate estate planning with tax strategies and retirement planning.

Better Decision-Making

Reflecting on your estate plan annually ensures your wishes remain aligned with your current goals, relationships, and assets.

How a Will Lawyer Can Help

A will lawyer in Calgary can help you:

• Identify outdated or invalid provisions
  
• Update your will, personal directive, or enduring power of attorney
  
• Ensure your estate plan is legally enforceable
  
• Structure gifts and trusts
  
• Prepare for blended family needs
  
• Reduce probate delays and costs
  
• Avoid common pitfalls in estate planning Alberta
  

A legal review is especially important if your will is more than three years old.

Book a Wills & Estates Consultation

Whether your will needs a minor update or a full rewrite, Libra Law’s Wills & Estates team provides clear, practical guidance based on Alberta law. We help you protect your family and ensure your wishes are carried out with confidence.

Explore our services:
https://libra-law.ca/service/wills-and-estates

Book a wills & estates consult today to review your will before the year ends and start the new year with peace of mind.

This article is for general informational purposes only and does not constitute legal advice. To obtain advice specific to your situation, please consult a lawyer or qualified professional.