As we start winding down and looking forward to the holidays over Christmas and the New Year, many of us make plans to visit friends and family interstate, or head overseas for a white Christmas. It’s a joyous time of year, one in which we are certainly not thinking about what would happen if our circumstances were to change dramatically.
How to Update your Will?
Life can change in a matter of moments and whilst it’s not something we like to talk about, having a valid and up-to-date Will is crucial to ensure your estate is distributed according to your wishes.
Dying without a Will, otherwise known as dying intestate, results in your assets being distributed according to a pre-determined formula with certain family members receiving a defined percentage of your assets despite what you may have wished.
We understand many people avoid making or updating a Will for fear of confronting thoughts around their own mortality. Rest assured, we are here to make the process as easy and stress free as possible. We provide our clients with a Will Kit and a ‘To those that I love’ booklet which outlines your wishes and personal information to loved ones.
As your Will expresses your wishes at a particular point in time, chances are it may not be relevant if you last updated your Will many years ago. If any of the following have occurred, you need to update your Will as a matter of priority:
• Separation or divorce
• Started a de-facto relationship
• Having children or grandchildren
• Death of a spouse
• The executor named in the Will has died or become ill and unable to handle the responsibility
• A beneficiary named in your Will has died
Having an up-to-date Will that reflects your wishes prevents loved ones from unnecessary financial hardship and emotional stress.
To update or write a Will today, please contact Quinn Lawyers. We can provide a wealth of information on the subject and provide advice on estate planning. Call us today on 02 9223 9166 for your Will Kit, or for more information, submit your enquiry here.