Wills and EstatesHow Often Should You Update Your Will?

November 10, 2020

Updating your will plan on a regular basis is fundamental to ensuring your will reflects your current financial and personal situation.

There are a number of events that occur that have the effect of revoking all or part of your will.

Below are some examples that may trigger the updating or rewriting of your will:

  • Marriage (as marriage will void a pre-existing Will)
  • Entering a De facto relationship
  • Separation or divorce
  • Retirement
  • Your children’s relationships changing
  • The birth of children or grandchildren
  • The establishment of a family trust
  • The purchase or sale of a business, or a house
  • The possibility of bankruptcy or other financial problems audience

As a general rule, you should review and most likely modify your will every 3 to 5 years as inadvertently your overall financial situation or your ownership of valuable belongings may change.

We strongly discourage you from adding to or deleting from your Will after execution without seeking the proper legal advice. Even simple changes must be made correctly to ensure that your wishes are not invalidated.

Contact the team at A.L.F. Lawyers and make an appointment to discuss your current will and establish if there is any need for you to reflect any changes.

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