Having a Will in place is the only way to ensure your assets and personal belongings are dealt with how you wish once you pass. Getting your Will set up is great, but you should also consider when you need to update your will. As we know life changes and your Will should too. A general rule of thumb is that your Will should be updated when you experience a notable life change. Some examples of when you should update your will are as follows: Getting married or entering a civil union; Separating or divorce; You have a new family member; You have a significant change in your assets or liabilities; You have set up a business or a Trust; or A person named in your Will dies. If things change and your Will is not updated, you run the risk of your assets being distributed in a way that goes against your wishes. For example, if you enter a marriage your Will is automatically cancelled so you would no longer have a Will in place. At Pier Law we write to our clients every five years to encourage them to review their Wills and make sure nothing significant has changed. Updating your Will is a simple process, involving an in-person meeting or phone conversation and then a meeting to complete the signing. If you need assistance with updating your Will please do not hesitate to get in touch with our Team who would be happy to assist you.
