A will is one of those documents many people prepare, file away, and rarely look at again. But life changes. Families change. Assets change. Relationships change. Marriage, separation, or entering a civil union can also affect whether a will remains valid. And if your will has not been reviewed for a number of years, it may no longer reflect what you want to happen.
A current, well-prepared will can make things much clearer for the people you leave behind. It can help reduce uncertainty, avoid unnecessary delay, and lower the risk of family tension or disputes later.
If your will was prepared many years ago, it may still be valid - but that does not always mean it is still right for your circumstances.
It may name an executor who is no longer the best person for the role. It may refer to assets you no longer own, leave out people who are now important in your life, or fail to reflect changes in your family, property or business interests.
It may also have been prepared under older law or before changes in your personal circumstances that now need to be considered.
Reviewing your will does not always mean making major changes. Sometimes it simply confirms that your current will still does what you need it to do. Other times, a review can identify updates that will make things clearer and easier for your family later.
Some wills can be updated quickly, while others may need a more detailed review depending on your assets or family circumstances.
It is worth reviewing your will when there has been a significant change in your life, family or assets.
This could include:
Blended families can be a particular area where careful advice is needed. If you have children from a previous relationship, a new partner, stepchildren or shared assets, it is important your will is clear and works alongside your wider estate planning.
A good will does more than say who receives what.
It can help guide your executor, reduce uncertainty, and make the administration of your estate more straightforward. It can also help ensure the right people are appointed to manage your estate and that your wishes are recorded clearly.
Where a will is outdated, unclear or incomplete, the people left behind may be left trying to interpret what you would have wanted. That can create stress at an already difficult time.
Taking the time to review your will now can help prevent confusion later.
Reviewing your will is also a good opportunity to think about the other documents that sit alongside it, including enduring powers of attorney, older deeds, trust documents or property arrangements. These documents can all affect how your affairs are managed during your lifetime and after your death, so it is worth checking they are current and consistent.
At Treadwell Gordon, our experienced wills and estates team helps clients prepare, review and update their wills in a way that reflects their current circumstances and wishes.
We can help you think through who should act as executor, how your assets should be dealt with, whether your family circumstances create any particular issues, and whether your will works alongside other documents or structures you already have in place.
Our team can also assist with enduring powers of attorney, older wills or deeds, and wider estate planning questions where needed.
If it has been several years since you last reviewed your will, now is a good time to check whether it still does what you need it to do.
Contact us to speak with one of our experienced wills and estates team.
