Estate Planning Document Health Check

When was the last time you reviewed your Will and Power of Attorney documents? If you have not reviewed your Will and Powers of Attorney recently, you may want to review these documents to ensure that they are up to date with your current circumstances.

When Should I Review my Will?

You should read through your Will at least every two years to ensure that it is up to date and in line with your wishes.

You may want to update your Will if:

• You have re-partner, married, divorced or had a breakdown in a relationship with a partner;
• An executor or guardian of minor children appointed under your Will:
  • Has become unfit to act due to age or failing health;
  • Has passed away;
  • You are no longer in contact with this person;
  • They would not have your best interests in mind; or
  • There is a more suitable person for the position;
• A named beneficiary has passed away;
• A named beneficiary has changed their name;
• You have provided for a child’s spouse and that child’s relationship has since broken down;
• There is a gift made under your will that you no longer wish to make;
• You are planning to start a family, or your children have reached majority;
• You are financially supporting a grandchild, adult child or other person that you were not supporting when you signed the Will;
• You have retied or moved into assisted living;
• You have become unwell; or
• You are planning overseas travel.

If any of the above apply to you your Will may require updating.

It is also important to note that events such as marriage and divorce effect the validity and clauses of your Will. Therefore, if you have married or divorced since you signed your most recent Will, then you should have your Will reviewed by a lawyer.

When Should I Review my Powers of Attorney?

It is also important to review your Powers of Attorney to ensure that these documents are up to date and are still what you want.

You may want to update your Powers of Attorney if:

• You have re-partner, remarried, divorced or had a breakdown in a relationship with a partner. It is important to note that Powers of Attorney are not always revoked upon a separation or divorce.
• An appointed person has become unfit to act due to age or failing health;
• An appointed person has passed away;
• An appointed person has changed their name;
• You are no longer in contact with an appointed person;
• An appointed person has moved internationally;
• The appointed person would not have your best interests in mind;
• There is a more suitable person for the position then the person or people you have appointed;
• The person you have appointed cannot communicate effectively and is not willing to consult with others on your behalf;
• Your jointly appointed people do not get along and could not come to an agreement.

If any of the above apply to you or upon reviewing your Powers of Attorney you wish to update these documents you should update your Powers of Attorney.

Copy of Documents held with Robinson Gill

If we hold your documents in our safe custody and you would like to request a copy of these documents in order to review them, click here.