L
ife seems to offer more
opportunities for professional
and personal evolvement than
ever before, and with that
comes the need to protect
your growing assets. It's wise to have a proper
will in place, but it's even more important to
occasionally revisit it.
That's one of the many messages about
estate planning delivered by Singleton
Urquhart Reynolds Vogel LLP, which is in the
process of creating a practice group dedicated
solely to estate planning, due to the volume
of work the law rm is experiencing in this
sector.
It's also a message that partner Alana Dale-
Johnson nds herself frequently impressing
upon clients. "Many people tend to think that
once you've made your will, that's it, you can
forget about it and get back to building your
career," she says. "Often they have a will drawn
up when they start a family—that seems to be
the main impetus. But as your family and your
business grow, it's common that the people
and things you value will change over time and
your will should reect that."
The company's expertise in estate
planning evolved directly from its focus on
business, "because we see it as an integral
part of taking care of our business clients,"
says Dale-Johnson. "Comprehensive estate,
tax and retirement planning not only benets
entrepreneurs and their families, but also their
companies."
Dale-Johnson is not surprised that many
people, whether intentional or not, consider
making a will to be a one-time proposition.
"It's not exactly a hot-button topic and
contemplating one's mortality can
be unpleasant. Plus, so many people
are too committed to their work
schedules to take time out to sit down
with a lawyer.
"But we suggest revisiting your
will at least once every ve years, or
when a signicant life event happens
such as the birth of a child or if you
come into money," she says.
Another occasion to revisit one's
will is a job or career change. "This
is something that happens more often
now compared to past generations,
and it could change the entire
dynamic of your estate," says Dale-
Johnson.
By the fall, Singleton Reynolds
will have a dedicated estate planning
team. "It's simply because it's
become a primary area of concern for
our clients," says Dale-Johnson.
As life transitions, priorities and
families change. Dale-Johnsons says
that failing to plan ahead can have adverse
consequences not only for your estate, but
your family, which can end up in costly
litigation.
"Our team will continue to hammer home
the message that as you evolve so, too, should
your will. The increasing complexities of
wealth accumulation in Canada today demand
that you be more proactive."
Alana Dale-Johnson
is the Chair of the
Wills and Estates
Practice Group at
Singleton Reynolds.
Contact her at
604-673-7404 or at
singleton.com
+ Singleton UrqUhart reynoldS Vogel llP
Revise Your Will and Revisit
the Terms as Your Life Changes
Estate-planning experts suggest you examine both your plan and
documents and update when needed to reect new dynamics
Created by BCBusiness in partnership with Singleton Urquhart Reynolds Vogel LLP
iStoCk
As your business and family grow,
it's advised that you update
the terms of your will
