When to make a new Will or to Review your Will
New Will
If you do not have a Will, then it is very important for you to make a Will as soon as possible. Should you die without a Will (intestacy) then the Law will decide who receives your estate. This may result in your assets going to persons who you would not normally include in your Will (such as a separated spouse).
Review of your Will
Circumstances might change which makes it necessary for you to amend your Will. Some of those circumstances are:-
(1) if you change your name, or anybody named in the Will changes theirs;
(2) if an executor dies or becomes unwilling to act as executor or becomes
unsuitable due to age, ill health or any other reason;
(3) if a beneficiary (someone who has been left something in the Will) dies;
(4) if you have specifically left any property which you subsequently sell or give
away or put in trust or into a partnership or which changes its character.
This applies particularly to specifically bequeathed shares in a company
which restructures its share capital;
(5) if you marry1 or divorce2; or if you have (further) children (including
adopted or foster children);
(6) if you enter or end a de facto relationship.
1. If you marry, your Will will be revoked by the marriage unless the Will is expressed to be made in contemplation of that marriage. Consult one of our lawyers about your Will if you decide to marry.
2. Divorce may affect your Will. The matter is complex and the law is not uniform throughout Australia. If you are contemplating divorce, or have been divorced since making your Will, consult one of our solicitors.
If you are married or in a de facto relationship and wish to change your will, revoke it or make a new will without informing your spouse or de facto spouse you may do so, but you should consult one of our lawyers.
Do not add to or delete from the will after execution.
Consult one of our lawyers if you want to change or revoke your will because even the simplest changes must be correctly done or they may have unintended results.
The above information is intended to assist you generally and should not be relied upon as legal advice. You must contact our office if you have any doubts or questions or are unsure of what you should do.
Patrick Lim & Associates’ experienced lawyers can provide assistance with the following matters:
• Preparation of Wills
• Assistance with claims against wills & estates
• Defending deceased estates
• Administration of legal aspects of estate planning
• Probates
• International claims
• Supreme Court estate litigation
Arrange a consultation with Patrick Lim & Associates and chat with an experienced solicitor
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