Financial Resolutions: Safeguard Your Estate Planning Documents

As a new year begins, many focus on financial resolutions like saving more or reducing debt. This year, why not consider making estate planning a priority, starting by safeguarding your estate planning documents?

A recent Globe & Mail article highlighted an often-overlooked estate planning risk: the lost will. In Finsant Estate (2024),¹ a will prepared in 2001 named the deceased’s grand-niece as the sole beneficiary. When it could not be located, the beneficiary sought court enforcement, while the estate’s administrator claimed the deceased had died without a will.

In most provinces, the original will is required to administer an estate; copies, even if notarized, are usually insufficient. If a will is known to exist but is lost, “clear and convincing evidence” is required to validate it. Otherwise, it may be presumed deliberately destroyed. In this case, the court declared the estate “intestate,” meaning it was treated as if no will existed, and assets were distributed according to provincial law. This underscores the importance of safely storing estate planning documents—and ensuring trusted individuals know where to find them. A will only serves its purpose if it can be located after death.

How Documents Get Lost

Years can pass between drafting a will and needing it. Home moves, relocation to another province/country or changes in legal counsel can result in misplacement or accidental destruction.

Pitfalls With Common Storage Locations

Here are common storage locations, each with its own considerations:

Lawyer’s Office — Professional file retention generally ensures safekeeping, but access may be complicated if the lawyer retires or changes practice.

Safety Deposit Box — While secure and protected against loss or damage, access often requires probate, which in turn typically requires the original will—creating a potential catch-22.

Home Safe — Convenient access for an executor, but vulnerable to fire, flood, theft or misplacement during moves.

Why the Power of Attorney Deserves Special Attention

A power of attorney (POA)* takes effect while you are alive, often in an emergency. Timely access is often critical—delays can cause confusion, legal hurdles or unnecessary expenses. Because POAs can grant authority over finances, healthcare or other personal matters, consider whether your attorney(s) can quickly locate them during a sudden illness, hospitalization or while you are abroad. If access is limited to a home safe or a lawyer’s office, establish contingencies.

For 2026: Resolve to Regularly Review & Communicate

Regularly reviewing estate plans is important, but equally critical is communicating where they are stored. Taking steps today to organize documents can prevent complications when they are needed most.

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^{1. https://www.theglobeandmail.com/investing/personal-finance/taxes/article-willtestament-inheritance-family-estate-planning/; *Generally, there are two types: for property and personal care (the names/terms vary by province/territory, such as mandate, personal directive or living will for POA for personal care).}

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