Updating Your Will: When and Why You Should Review Your Estate Plan

Key Takeaways

  • Wills should be reviewed regularly — not just written and forgotten.
  • Major life events like marriage, divorce, or the birth of a child can affect your estate plan.
  • Laws and your personal circumstances can change over time.
  • Keeping your Will up to date ensures your wishes are followed and your loved ones are protected.

Many people write their Will and then tuck it away in a drawer, assuming the job is done. But your life doesn’t stand still, and neither should your estate plan.

Reviewing and updating your Will might not be the most exciting task, but it’s one of the most important. Think of your Will as a roadmap. If you move house, change the roads, or find new destinations, that map needs a few updates — otherwise, your loved ones could end up lost or confused when the time comes.

Let’s walk through when and why you should take another look at your Will.

Why Is It Important to Update Your Will?

Your Will speaks for you when you can’t. It says who gets what, who looks after your children, and how your estate should be handled. But if it’s out of date, it might not reflect your current wishes — or worse, it might cause problems for your family.

Some common reasons people update their Wills include:

  • A change in family situation (like a new baby or the loss of a loved one)
  • Changes in relationships (like marriage, divorce, or separation)
  • Gaining or losing assets (buying a house, starting a business, or selling property)
  • Changes in the law
  • Appointing new executors or guardians

If your Will doesn’t match your life anymore, it may not carry out your wishes as you’d hoped. In some cases, it could even be challenged in court.

When Should You Review Your Will?

There’s no hard rule that says how often you should look at your Will, but a good general rule of thumb is every three to five years — or whenever you experience a major life change.

Here are some key times when you should definitely take a look at your estate plan:

1. You Get Married or Enter a New Relationship

In New South Wales, marriage generally revokes a Will — unless your will specifically states that it was made “in contemplation of marriage.” That means if you tie the knot and forget to update your Will, it could be invalid. Even if you’re in a long-term de facto relationship, it’s smart to review your estate plan. You’ll want to make sure your partner is included the way you intend.

2. You Separate or Divorce

Divorce doesn’t automatically cancel a Will in NSW, but it can affect certain parts of it — like gifts to your former spouse or their appointment as executor. If you’ve separated or divorced, your Will may need some changes to reflect your new wishes.

And if you’re just separated — but not legally divorced — your former partner may still be able to make a claim on your estate. This is a tricky area, and it’s worth getting advice.

3. You Have Children or Grandchildren

The arrival of a new child or grandchild is a joyful reason to update your Will. You may want to include them in your inheritance or appoint guardians to care for your young children if something happens to you.

4. Your Assets Change

Maybe you’ve bought a new home, sold an investment property, or come into a large inheritance. Major changes to your assets can affect how your estate is divided.

It’s important that your Will reflects what you actually own — so nothing is left out, and so everything is distributed the way you want.

5. Someone in Your Will Passes Away

If a beneficiary or executor in your Will passes away, you’ll need to make adjustments. You may need to name a new person to take their place, or decide how their share of your estate should be handled.

What Happens If You Don’t Update Your Will?

If your Will is outdated, it can cause all sorts of issues down the track. For example:

  • People you no longer want included may still inherit from your estate.
  • Loved ones you wanted to provide for may be left out.
  • Confusion or disputes could lead to family provision claims or court challenges.
  • Your estate may not be managed the way you would have liked.

In short, an out-of-date Will can create stress, delay, and extra costs for the people you care about most.

How to Update Your Will

There are two main ways to update your Will:

1. Make a Codicil

A codicil is a short document that makes minor changes to your existing Will. It must be signed and witnessed in the same way as your Will.

This is best for small updates — like changing an executor or adding a single gift.

2. Make a New Will

If you need to make major changes or your Will is several years old, it’s usually better to start fresh. A new Will automatically cancels your old one.

Whatever option you choose, make sure the process is legally sound. Mistakes can cause confusion or even make your Will invalid.

Don’t Wait Until It’s Too Late

Life changes. Families grow, relationships evolve, and your priorities shift. Your Will should grow with you.
If you haven’t looked at your estate plan in a while — or if something big has changed in your life — it’s worth taking the time to review your Will. You don’t need to go it alone, either. A friendly, approachable lawyer can help make the process simple and stress-free.

Final Thoughts

Updating your Will isn’t just a legal task — it’s a loving act. It shows your family that you’ve taken the time to make things easier for them in the future.

If you’re unsure where to start, or you think your Will might be out of date, now’s the perfect time to get some guidance. It’s never too early to plan ahead, but it can be too late.


 

This blog was written by Associate,
 Jessica Benson
Jessica practises in the areas of Family Law, Wills & Estate Planning,
Deceased Estates and Will disputes

Estate PlanningEstatesUncategorized

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