Even if you have a Will your circumstances will evolve or change over time and this may require you to update your Will to reflect your new situation or lifestyle.
Here are 11 times when you may need to update your Will:
- You can’t find your original Will
- Your relationship status changes such as getting married or separating
- You have your first child
- Your dependant/s turn 18
- Your financial situation changes (a large sum of money, an investment, shares)
- You’re moving overseas
- A beneficiary in your Will dies
- An executor of your Will dies
- You want to change your beneficiaries or executor(s)
- Your relationship sours with your family or friends
- Laws change which impacts your estate
Having a legal, valid and up to date Will is just plain sensible and keeping it updated as your circumstances change is important too for the peace of mind it provides.
At Our Wills Your Way we recommend creating a new will when you have changes to make rather than a Codicil to reduce the chances of making mistakes which could lead to your will being invalid. We have an affordable, easy to navigate product, making it easy for you to do this. To read more on when you should update your will, head to our FAQ’s https://ourwillsyourway.com.au/faqs/
