One of the most important factors when protecting your family is ensuring you have an up-to-date Will. Not only does life evolve, but there are some circumstances in which your Will might be revoked or ineffective and you will need to prepare a new one. Some circumstances may also revoke your Enduring Power of Attorney. Examples of circumstances include, without limitation:
- Your financial circumstances change;
- Your family circumstances change. For example, if you marry, start a new relationship, divorce, separate, or have children or grandchildren;
- A beneficiary under your current Will dies;
- An executor or trustee appointed under your current Will dies or becomes unsuitable to act due to age or ill-health;
- You sell or give away assets that are specifically mentioned in your Will;
- You buy or inherit significant assets;
- You create self-managed superfunds, companies or trusts; or
- The entities or structures you hold assets in change.
When updating your Will, it is important to revisit your entire estate plan to ensure that all of the assets that you control are properly dealt with. We work with you to create a detailed estate plan including assets that are generally not dealt with in your Will such as superannuation, family trusts or companies.
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You should revisit your Will regularly to make sure that it still gives effect to your wishes.
We are experienced in estate planning – either call us today or fill out the form below to ensure your family is protected.