Your Will is your decision. If you change your mind, you can change your Will too. In fact, you have the right to change your Will as many times as you see fit.
What about your existing Will? Though you can take the option to amend a Will, usually, the easiest option is to simply create a new one. A new Will automatically invalidates the old one, as you can’t have more than one Will at any given time.
Learn more about the how and why of changing a Will.
How to Change Your Will
There are a few options for how you can go about changing your Will. An amendment can be made as a codicil, added to your existing Will. Alternatively, you can revoke the Will and replace it with a completely new one.
A codicil can only be used to make minor changes to the existing Will, such as changing the executor, or removing or adding a specific gift. a codicil should only be used if it will not create confusion as to what your intentions are as if it is too unclear how the Will should be interpreted, the courts will deem it invalid.
Revoking a Will is easy, as all you need to do is create another document. A new, valid Will automatically causes the earlier one to become invalidated, but you should still make it obvious by stating in your new Will that you revoke all earlier Wills.
When It’s Time to Change a Will
At any significant changes to your life, relationship status or assets, it’s a good idea to reassess your Will to make sure it still reflects who and what is important to you.
This includes life events such as getting married, divorced or separated, having a child, buying a house or another significant investment asset, or becoming part of a new business or trust.
In the event you marry after writing and executing your Will, it is recommended that you review and possibly change your Will. If you do not update your Will and your spouse is not included in it, your spouse may contest the Will upon your death on the basis that they are not included.
On the other hand, if you divorce after executing a Will, you may wish to change your Will so as to exlcude your ex-spouse if you do not wish them to be a beneficary. If you fail to update your Will and your ex-spouse is a beneficiary, your Executor will be required to disburse the estate in accordance with the Will.
After a separation, your former partner may still have claims on your assets in the event of you passing away if they are included in your Will or you do not have a valid Will. Make sure to prioritise changing your Will at some point after you have separated from a de facto relationship to avoid such claims.
Change of Life, Change of Will
If you’re daunted by the prospect of writing a new Will, there’s nothing to it. It’s simply a matter of writing another Will, shiny and new, to replace the old one you’ve already got.
A new valid Will automatically cancels and invalidates the old one, so it’s the easiest way to take care of any comprehensive changes you need to make to your Will. Usually, amending your Will with a codicil isn’t enough to reflect major changes to family, investments or other aspects of your life.
Take the step today with Your Wills. Fast and convenient, you can have an online Will in only a matter of minutes – and it’s affordable to boot.
Change your Will with a new one from Your Wills today.
Write your new Will online today with Your Wills.