When to update your will

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When preparing for the expected, or the unexpected, it's important to keep your will valid and updated to ensure your loved ones have a smooth process when carrying out your wishes after you're gone.

Here are some key things to keep in mind to make sure you always have an up-to-date will.

Events worth planning for

Here's a quick-reference list of events in your life that might see you updating your will:

  • Changes to your assets or liabilities. This could be your finances, debts or properties.
  • Marriage - this could be if you get married or one of your children gets married.
  • Divorce or separation.
  • Having a child or grandchild join your family.
  • Starting a company.
  • Starting a family trust.
  • Someone listed in your will passes away.

If your circumstances change without being accounted for in your will, your executor may need help administering the estate.

Rule of thumb

You should update your will when your circumstances change but it's also good to keep the following in mind:

  • Keep an eye on when laws are amended such as the Relationship Property Act or the Family Protection Act.
  • You must update your will after getting married because your existing will becomes invalid.
  • It is wise to review your will every 5 years to make sure external factors haven't affected any of your instructions.

Having a current will give you peace of mind that your loved ones will have a simple estate planning experience once you're gone. You can make updates as and when you need to and review any of our other services for estate planning here on our website.

How Public Trust can help

  • If you have an online will with Public Trust, log into your account and make an update at any time.
  • Get in touch with us to have a conversation about what changes you would like to make or if you're in a situation where someone has passed away with an outdated will.
  • Find out more about wills here.

Get in touch 0800 371 471