When should I update my Will?

You’re a legacy legend and had your Will done! The next step in keeping up that great work is regularly reviewing your Will. That just means regularly reading through your Will.

Why? To ensure your Will remains up to date with your wishes and circumstances – and so that you know where your Will is! How often should you review your Will? Pick a date (any date!) and make that “the day” you review your Will EACH year. Mark the date in your calendar and set an alert/reminder (let technology be your friend here and use the calendar on your phone or linked to your email account).

So you’ve nailed diarising and actioning the Will review, what now? A change in your wishes or circumstances, or the circumstances of your loved ones or anyone nominated to key positions in your Will may mean it’s time to update your Will. For example*:

• Have you separated or divorced?
• Have you married or in a new de facto relationship?
• Have you or an intended beneficiary moved overseas?
• Have you made any significant changes to your assets?
• Are you happy with your nominated executors, trustees, and guardians?
• Has someone in your family passed away? Is there a new baby? A new spouse?

We give each of our clients a ‘Will Review Checklist’ with everything to consider when reviewing your Will. It makes the process quick and simple. Less time on life admin, more time out enjoying life!

*This isn’t a complete list but it gives you a good idea of the types of things you need to consider.

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