When should I update my will?

You should consider updating your will when:

(a) Your spouse/domestic partner dies

(b) You have your first child

(c) An intended beneficiary dies

(d) A beneficiary has a relationship breakdown/forms an unsuitable relationship

(e) A beneficiary suffers mental incapacity/has a drug problem

(f) A beneficiary is sued, owes large debts, or starts a business with a lawsuit risk

(g) A beneficiary becomes estranged from the family

(h) A beneficiary suffers a significant financial misfortune.

(i) There is a substantial increase to the size of your estate.

(j) You establish a discretionary trust.

(k) You build up a large superannuation balance.

(l) You get married.

(m) You separate or get divorced.

(n) You commence, or end, a de facto relationship.