“Enjoy the little things, for one day you may look back and realize they were the big things.”

— Robert Brault

As we move into April and the early signs of spring begin to show, many of us naturally turn our attention to renewal—cleaning, organizing, and getting things back in order after the winter months. It’s a season that invites a fresh look at areas of life we may have been putting off.

In our conversations with clients, estate planning often falls into that category. For some, particularly younger families, it feels distant and easy to defer. For others, it becomes a more immediate priority. And for many, it sits somewhere in between acknowledged but not always revisited as life evolves. It’s not uncommon for us to review a Will that hasn’t been updated in 10 or 15 years, despite significant changes in family or financial circumstances.

Wherever you fall on that spectrum, this time of year is a useful reminder: good planning isn’t just about reacting to change—it’s about staying ahead of it.

The Classic Approach: Simple Wills

For many Canadians, a simple or “vanilla” Will does exactly what it’s meant to do—it outlines how your wealth will be shared among loved ones, charities, and, inevitably, the CRA. While the CRA is rarely thought of as a beneficiary, your executor is still responsible for settling any final tax obligations before distributions are made.

For many married couples, a Will often names a spouse as both executor and primary beneficiary, with alternate executors—often a trusted family member or close friend—identified as backups. Alternate beneficiaries are also named. They are family members typically with gifts structured as percentage-based distributions. And for those couples with young children, guardianship provisions are an additional necessary inclusion.

This structure allows assets to pass seamlessly to a surviving spouse, with contingent provisions already in place when the survivor themselves eventually passes. When spouses adopt this coordinated approach, they are often referred to as having “mirror” Wills.

Powers of Attorney are also essential, ensuring someone you trust can manage your affairs if you are unable to do so during your lifetime.

Why DIY Isn’t Always Best

While it can be tempting for some to just put pen to paper, this is an area where legal expertise is often worth the investment. Some handwritten Wills have held up in court, but the risk of ambiguity or unintended consequences can be significant. In one case, we came across a story where a Will had been etched on a tractor fender by a farmer using a jackknife while he was trapped under the machine and succumbing to his injuries—and, somewhat unbelievably, it was upheld in court. Creative, but not a strategy we would recommend.

That said, for simpler situations, newer online platforms have made basic estate planning more accessible. Services like Willful (https://www.willful.co) can be a reasonable starting point, provided the complexity of your situation is limited and the documents are completed thoughtfully.

When Life (and Wealth) Gets Complicated

As wealth grows and life evolves, estate planning often becomes more nuanced. A basic Will may no longer be sufficient if you own shares in a private company, hold property in multiple jurisdictions, or have more complex family dynamics. Blended families, ongoing support needs for a child, or the desire to keep assets like a family cottage within the family can all introduce additional layers of complexity.

In these situations, a more tailored approach is required. Without proper planning, even well-intentioned decisions can create unintended consequences—whether through tax inefficiencies, family disputes, or administrative challenges. Engaging experienced legal advice becomes an important step in protecting both your assets and your family.

Wills: Not Just “Set It and Forget It”

A Will is not a one-time project. The plan you put in place at 40 may look very different from what is appropriate later in life. Families grow and change, children become financially independent (or sometimes not), and new generations are added. Individuals you’ve named as executors or beneficiaries may no longer be the right fit for the role.

At the same time, asset values can shift meaningfully. A property that once represented a modest portion of your net worth—such as a cottage—may eventually become one of the largest assets in your estate, potentially creating imbalances if it has been earmarked for a specific beneficiary. Tax rules also evolve, and what was once efficient may no longer be optimal.

It’s also worth remembering that not everything of value is measured in dollars. Personal items—family heirlooms, photographs, artwork, and memorabilia—can carry deep sentimental importance. While these may not always be addressed formally in a Will, a written memo can provide helpful guidance to your executor and reduce the potential for conflict.

The Bottom Line

Estate planning isn’t just about having a Will—it’s about making sure it still reflects your life today. Reviewing your plan periodically and updating it as life evolves is one of the most important steps you can take to ensure your wishes are carried out and your family is well supported.

Warm regards,

Moore-Miller Investment Group