Article Category - Wills & Estates 04 August 2020

Throughout July and August, 10% of fees generated from any new and existing Wills, Power of Attorney or Enduring Guardian drafted at Kenny Spring Solicitors will be donated to local charity Veritas House. Now is the perfect time to draft or update your estate plans, and in doing so, you will be supporting disadvantaged families in the Central West.

Here are 10 reasons you should consider updating your will:

  1. The people named in the Will such as the Executor or Guardian has died;
  2. The Executor or Guardian becomes unsuitable to carry out their duties for some reason;
  3. You get Married, because Marriage revokes all Wills unless of course the Will is made in contemplation of a Marriage;
  4. You start living with a partner, as your partner may be entitled to some of your estate;
  5. There is a birth or an adoption of a child or a grandchild;
  6. You may want to add a Guardian to care for the new child, or you may want to leave the new child or grandchild a gift;
  7. If you separate from a Spouse or a Defacto partner, as a former Spouse or Defacto partner will still benefit from your Will;
  8. If you become divorced, because a divorce automatically cancels any gift to the former Spouse made in your Will, and you may still wish to give a gift to your former spouse;
  9. There is a change in the value of your estate or a monetary gift may not be worth the value of the gift, or you may wish to delete a specific gift in the Will; and
  10. You may decide to delete or add a beneficiary to their Will.

Life changes, and it's important to keep your estate planning documents up to date.

A number of our clients use a significant date during the year, such as an anniversary or birthday, to run their eye over their Will and make sure nothing needs to be adjusted.

If you don't have a Will like around 50% of Australians, or you haven't reviewed yours for a while, give us a call on 1800 650 656. We're here to help in Bathurst, Oberon, and Lithgow.

Peter McManus | Solicitor