Life changes, so should your Will

Divorce automatically revokes any gifts willed to a former spouse. It also revokes a former spouse’s appointment as executor unless the Will explicitly states otherwise. You may want to make a new Will so you can name alternative beneficiaries and a new executor.

Separation has no automatic legal impact on a Will, so you may want to make a new Will that doesn’t include your estranged spouse.

Marriage or civil partnership automatically revoke a Will unless the Will was made in contemplation of that marriage or partnership. You’ll need to make a new Will to avoid the risk of dying intestate.

A de facto partner of two or more years is considered a spouse. But determining if a relationship is a de facto relationship isn’t straightforward so it may be worth considering a new Will to specifically include or exclude your de facto partner.

A Will that doesn’t reflect your financial situation at the time of your death can lead to confusion for the executor or disputes among beneficiaries.

An application to the court for clarification or orders to resolve disputes may be needed, which can be expensive and time consuming. If your entire estate isn’t distributed by your Will, you may be considered partially intestate, causing the assets not distributed in your Will to be distributed according to the rules of intestacy.

Certain family members, including stepchildren, who believe they aren’t adequately provided for in a Will may make a family provision application for a share or a larger share of the estate.

Such a claim can be expensive for the estate to defend. The birth or adoption of a child or grandchild or the creation of a blended family may be a good point to review a Will to ensure such considerations are addressed.

It may also be helpful to include a clause in your Will regarding any loans made to family members you expect will be repaid and include a note as to whether monetary gifts you gave loved ones during your life have impacted how you have allocated assets to your beneficiaries in your Will.

This may reduce the risk of disputes over whether money you provided during your life was a loan or a gift and whether a gift you gave during life was considered when you made your Will.

Executors must be explicitly named in a Will.

If your Will’s sole executor dies or is otherwise unable or unwilling to fulfil their role, an application to the court may be needed to appoint an administrator. This can delay the distribution of an estate by several months.

The death of a beneficiary named in your Will can also cause confusion and trigger disputes if your Will doesn’t have provisions that distribute assets gifted to that beneficiary to others upon their death.

If all beneficiaries pre-decease you and no other eligible beneficiaries can be found, your estate may be transferred to the Queensland Government.

Moving interstate can affect the outcome of a Will because each Australian state and territory has slightly different laws in this area. Making a new Will in your new location can reduce the risk of an unexpected outcome.

Superannuation typically has a binding death benefit nomination and life insurance policies usually have beneficiary nominations that operate outside your Will.

If these nominations change or, for example, the amount of super you have changes substantially, and that impacts to the way you intend to share your assets, you may want to make a new Will to reflect that.