November 1, 2018
How to make your will count
It is important for everyone over 18 to have a Will. If not, your assets will be divided according to the rules of intestacy rather than your wishes. You can also indicate in your Will who you want to be the guardians of your children, to prevent loved ones having any more stress to deal with when you die.
Review your Will regularly
Ideally, you should review your Will annually or, as a minimum, every three to five years. Changes in your life may make your Will ineffective or even invalid and undo all of the good work you have done by making one in the first place.
The following change of circumstances should also prompt you to consider updating your Will: marriage, separation, children, change of executor, change of beneficiaries or change of specific assets/gifts.
It’s also important to remember to check your super and life insurance, as it is not necessarily divided up in accordance with your Will. You should have a binding death benefit nomination to ensure it is paid the way you want.