Many people create a will once and then do not revisit it – but there can be many changes in life circumstances from the time you initially created your will, for example:

• Relationship changes like marriage, divorce and establishment of a de facto relationship 
• New children, stepchildren and grandchildren joining your family
• The accumulation of significant new assets
• Loans you’ve made to children to purchase land or homes
• New charities or causes that are important to you, that you would like reflected in your will 
• Receiving an inheritance 

It’s worth revisiting your will every few years to make sure that your will still reflects your estate and the provisions you would like to be included. By keeping your will up to date, you’re relieving additional pressure that may be put on your family once you pass away, which is already an emotionally difficult time.

Having a valid and up to date will lessens the likelihood that there will be claims made against your estate, people and causes you care about missing out on receiving any provisions in your will, and the court system needing to be involved. 

Questions to ask yourself…

• When was the last time I updated my will?
• Are there loved ones who have entered or my life since I made my will?
• Have there been significant changes to my financial situation since I made my will?
• Have I made loans to a child that stand to be paid or forgiven on my death?
• Are there charities, organisations or causes that are now close to my heart that I’d like to include in my will?

How can I update my will?

Book a consultation with Lane Legal today to update your will. Call +61 2 9477 1500 or email jlane@lanelegal.com.au.