Do I need to update my will when I have a new child in Ontario?

Yes, and you should do so promptly. Unlike marriage, the birth or adoption of a child does not automatically revoke your existing will in Ontario. However, a child born or adopted after your will was made may not be provided for under the existing will, particularly if the will uses specific names rather than class language like "my children."

Ontario's intestacy rules do provide some protection for afterborn children in cases where the will fails entirely, but relying on this is risky. A will that specifically names existing children and leaves a fixed gift to each of them does not automatically extend to a new child.

Additionally, if you have young children and your existing will does not include a guardianship provision — or if you want a different guardian for each family unit — updating the will to name a guardian and establish appropriate trust provisions is essential.

From a practical standpoint, the birth or adoption of a child is also a good trigger to review your beneficiary designations on RRSPs, TFSAs, and life insurance policies to ensure the new child's long-term needs are considered. It is also a good time to review the adequacy of your life insurance coverage.