Other issues can arise if a will is not properly drafted, signed and witnessed as it could be considered invalid leaving you intestate or making your executor prove to the court that the will is valid. A poorly drawn will may be left open to challenge or family provision application which may cost beneficiaries a significant amount in lost legacies.
Your Estate Plan and your WILL should be reviewed after any major change in your life to ensure they remain current and viable. In addition, you should review your Will every 5 years to ensure that it is still current.
Your Will may be affected by changes in your investments, status of personal home, financial situation, marital status, separation, divorce, entering into a de-facto relationship, death of a relative, birth of a child or a grandchild, adoption, stepchildren etc. You may also want to update your will if your personal situation changes with beneficiaries.