A Will isn't a "set and forget" document.
Life changes, and your Will should keep up with it. A Will written years ago might no longer reflect your relationships, your assets, or your wishes. Here are the moments worth pausing to check.
A relationship changes
Marriage, separation, or divorce can all affect a Will. In New South Wales, marriage can automatically revoke (cancel) an earlier Will in some cases, while separation without divorce might not. It's worth checking rather than assuming.
You have children, or more of them
A new child means new decisions, who looks after them if something happens to you, and how they're provided for. This is one of the most common reasons people update their Will.
Your assets change
Bought a home, sold a business, received an inheritance? Significant changes in what you own are a good prompt to check your Will still makes sense.
Someone named in your Will has passed away
If an executor, guardian, or beneficiary named in your Will has died, it needs updating so your plans still work as intended.
It's just been a while
Even without a big life event, it's worth reviewing your Will every few years. Circumstances shift gradually, and a quick check gives you peace of mind that it still reflects you.
Due for a check?
If any of this sounds familiar, it's worth a conversation. We'll review your current Will and let you know, plainly, whether it still does what you need it to.
This information is general in nature and does not constitute legal advice. For advice specific to your circumstances, contact us today.
