John Barabe and Madison Schenher understand that everyone's financial situation is unique and that managing your wealth can be complex and time-consuming. They have an unwavering commitment to quality and service which has enabled John to build and retain a successful practice in Regina. The team of Regina financial advisors and support staff believe that planning with honesty and integrity are cornerstones to improving their client's quality of life. They apply their knowledge to help clients make the right choices when considering all the product and service options that exist in today's marketplace. In their latest Regina financial advisors expert article, they explain how often you should review your will.
When was the last time you read your will? Is it still relevant? Are there changes that really should be made?
After completing a will, most people put it in a safety deposit box and don’t bother looking at it again. This is a mistake because wills should be reviewed periodically, especially if there have been significant changes in your life such as…
- marriage (because your will is revoked when you are married),
- divorce (because it revokes a gift to the former spouse, and in many cases that is most of the will),
- the birth of a child (because you’ll want to deal with guardianship, support etc…),
- the majority of a child (because you won’t have to deal with guardianship, may want to do something about support, specific bequests),
- a major acquisition or disposition of property,
- the death of a spouse or other family member mentioned in the will, and
- executor dies or reaches a state of physical or mental disability.
Never attempt to revise your own will by scratching out or marking up existing clauses. When making alterations to your will, taking the time to follow the legal formalities will ensure that your will remains valid, and up-to-date and that your estate is dispersed according to your wishes.
I am sending this out as material information to keep everyone informed. This is not a solicitation for any investment. Before making any investment decision, please contact us for professional investment advice through our extensive planning process. This is only meant to provide perspective and update you as best as I can from the extensive ongoing research that we do.
The opinions expressed within this article/communication are those of the Financial Advisor and are not necessarily those of Keybase Financial Group Inc. Any data provided is for illustration purposes only. Clients and prospective clients should always read a product prospectus and fully understand all of the risks associated with the product before purchasing. Any information relating to the discussion of taxation issues is considered to be only general in nature. Clients should seek a qualified tax professional to discuss their specific tax requirements.
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