Shane Ellis Legal Group

HOW OFTEN SHOULD YOU UPDATE YOUR DOCUMENTS?

A major life event is the main trigger for the need to update your estate planning documents. This is because a big life change (either affecting you or one or your beneficiaries) generally overhauls your existing plans, so your estate plan needs to be modified, too.

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Generally speaking, a Will is voided by marriage or divorce so you will likely be left intestate (without a Will) if you do not update after these events. Other significant changes in your personal or financial situation will usually give rise to a need to update your estate planning documents. However, with some good advice and some forward-planning, your documents can cater for many expected life changes – but the unexpected and involuntary can be much more difficult to predict and manage.

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• You marry;

• You commence a de facto relationship;

• You separate or divorce;

• You have more children (or grandchildren);

• Any of your appointees (i.e. executors, trustees, attorneys, guardians or Substitute Decision-Makers) die, or you no longer consider them appropriate to undertake the task;

• There are any significant changes to your financial position;

• There are any significant changes to your investment structure or business affairs; or

• There are any significant changes in the life or business circumstances of any of your beneficiaries.

We recommend that you seek some advice if any of the following events occur:​

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Shane Ellis Legal Group

SIMPLE WILL

If you are looking for a less complicated alternative, we recommend using an online system called Simple Will by Express Group company.

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Express Group offers comprehensive, easy 

to complete online estate planning documents that provide you and your family lifetime protection for your assets. All Express Group documents are recognised and valid nationwide, providing our customers the assurance that they are protected wherever life leads them. 

 

Express Group offers Powers of Attorney documents for every state within Australia, whether you live within the Northern Territory or Queensland we have the documentation to protect you.

 

All Express Group master documents are written in plain language and are constantly updated and checked by Shane Ellis Legal Group.

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