You should review your Will:
At least every five years
After the birth of your children
After the death of a family member
After a significant change to the situation of a family member e.g., a permanent
disability
On separation or dissolution of marriage
If an executor dies or becomes unsuitable to act due to age, ill health etc.
If you change your name or anyone mentioned in the Will changes theirs.
If you marry after the date of this Will, it will in most cases be revoked automatically,
and you should consult your solicitor
If a beneficiary dies
If you have specifically bequeathed any property which you subsequently sell, or
which changes its nature.
If your estate increases materially in value, as it may do for example due to inflation.
Amendments from time to time to the laws relating to taxation and duties make it wise for you to consult your solicitor periodically as they may advise you to change your Will or make gifts or take other steps in your lifetime to ensure the best disposition of your estate.
WHAT DOES A REVIEW INVOLVE?
A review means simply to read and consider what you have in your existing Will. If you are happy with the contents, just make a note that you have reviewed it and the date, then file it away in a safe place. If a change needs to be done, please contact us. It is very important that Wills or alterations to them (Codicils) are completed properly to be effective.
WHO TO CONTACT?
Contact the Partner or Solicitor that you usually deal with. They will be able to quickly determine whether you need to come in and discuss you Will more fully, or whether a draft can be sent to you after telephone discussions. The new Will or Codicil is signed at our offices once the changes have been made. We will then hold the original in our deeds room and a photocopy of the signed document will be sent to you.
Contact us at Kannangara Thomson
Phone 03 3774421
Email: email@ktlaw.co.nz