If you need to go through old drawers, push past scrap paper and old receipts, then wipe away a layer of dust - all to find your Will - then chances are that it needs updating.
Despite the fact that your Will made in 1967 may still be valid, in 40 years your life has surely changed drastically. You may have had children, maybe grandchildren, a house, a business, you’ve been divorced, remarried, maybe even won the lottery! All of these things need to be accounted for in your Will.
Imagine if your grandchildren missed out on inheriting something precious in memory of you just because your Will wasn’t updated to include them. Or, imagine if your partner had passed away and you have remarried. If you haven’t updated your will to reflect this, your current partner could miss out on inheriting from your Estate when you pass – and be faced with a huge mess to sort out.
So you should update your Will regularly, not only for your own peace of mind, but for the clarity and ease it will provide to your loved ones as they grieve.
As you get older, it is also important to think about updating your Enduring Power of Attorney and Enduring Guardianship instruments. These documents provide you with the comfort of knowing who will be making decisions for you in the event that you lose capacity. Giving specific directions and limitations ensures that your wishes are kept at the forefront of decision making.
If you have further questions please contact us at firstname.lastname@example.org
This is not legal advice.