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The importance of reviewing your Will

Having a Will is one thing but having an up-to-date Will is another matter completely! Whilst I find that there is a general reluctance amongst people to make a Will in the first instance, I find people are even more reluctant to review and update it. Further, a lot of people do not see the need to review their Wills or, continually put it on the never ending “to do list”. This is why I place a high important of reviewing your Will.

The fact is, circumstances and relationships change and this will have an impact on your Will. Unfortunately, case law shows that challenges to Wills are on the rise and in a lot of circumstances, could have been avoided by simply reviewing and updating the existing Will.

Generally, I recommend that people review their Wills every two or three years or whenever a major event occurs in their family, their assets or the taxation laws. Regular review of your Will ensures that it is up to date with your life and also current legislation.

Whilst there are many circumstances in your life that may trigger the need for a review of your Will, the following should prompt you to contact a solicitor and discuss updating your Will (reviewing your will):

  • If you change your name, or anybody named in the Will changes theirs;
  • The purchase or sale of a significant asset;
  • The death of a family member or of people you have nominated as executors or beneficiaries in your Will;
  • The birth of a child or grandchild;
  • Marriage or divorce; or
  • An inheritance or significant change to your financial circumstances.

If you need to make, update or review your Will it is important to do it properly and with the correct legal advice from an estate planning lawyer. Please do not hesitate to contact me if you require assistance in reviewing your will.

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The information provided in this article is for general information and educative purposes in summary form on legal topics which is current at the time it is published. The content does not constitute legal advice or recommendations and should not be relied upon as such. Whilst every care has been taken in the preparation of this article, Wills, Estates and Probate Lawyers (WEP Lawyers) cannot accept responsibility for any errors, including those caused by negligence, in the material. We make no representations, statements or warranties about the accuracy or completeness of the information and you should not rely on it. You are advised to make your own independent inquiries regarding the accuracy of any information provided on this website. WEP Lawyers does not guarantee, and accepts no legal responsibility whatsoever arising from or in connection to the accuracy, reliability, currency, correctness or completeness of any material contained in this article. Links to third party websites or articles does not constitute any endorsement or approval of those sites or the owners of those sites. Nothing in this article should be construed as granting any licence or right for you to use that content. You should consult the third party’s terms and conditions of use in relation to any third-party content. WEP Lawyers disclaims all responsibility and all liability (including liability for negligence) for all expenses, losses, damages and costs you might incur as a result of the information being inaccurate or incomplete in any way. Appropriate legal advice should always be obtained in actual situations.

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Written by—

Chloe Kopilovic

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