Most people recognise the importance of a Will but looking after it is important too. This may seem obvious but what does it mean in practice?
Storing a Will
A Will should be kept in a safe place and the Executor, beneficiaries and family should be made aware of where it is located. The Will cannot serve its purpose if no-one knows about it or where to find it.
Protecting your Will from damage or loss
If it is just kept in the home there is a chance that it could be lost or damaged. Potentially, this could mean the estate is not distributed as desired or extra legal costs incurred in sorting out the estate.
Consequently, many people choose to store their Will with their solicitor. As well as preparing your Will, Szabo & Associates Solicitors can provide this service for you.
Updating a Will
The NSW Trustee & Guardian recommends that a Will is reviewed with an expert solicitor at least every five years or whenever there is a significant life-changing event. These events might include:
- Marriage
- Starting a de facto relationship
- Having children or grandchildren
- A significant financial change occurring
- Separation
- The death of a beneficiary
- The death of the proposed Executor or if they become unable to perform their duties
The terms of the Will are likely to be impacted and it is important to ensure that the Will reflects the changed circumstances.
Contact our Will Writing Lawyers in Sydney, NSW
Szabo & Associates Solicitors offer expert Will writing and estate planning services. If you want to write or update your Will please contact us on {{CONTACT_NUMBER}} or fill in the online contact form.