When to Update your Will?

It is common for many who have done wills to put it aside and not think about it.

Since making your will, circumstances and relationships might have changed. If so you may need to consider updating your will. You might need to appoint a new Executor, or add or remove beneficiaries. You can consult us to see if there is a need to do so.

A good time to update your will is when a major life event occurs, for example:

  • Marriage: your will is automatically revoked upon marriage;
  • Divorce: your will it NOT revoked upon divorce;
  • the birth of a child;
  • the birth of a grandchild;
  • the purchase/acquisition of a property;
  • death of a beneficiary ;
  • death of executor/ guardian;
  • change of religion;
  • starting a new business.

It is possible to do a codicil to make changes to your will. A codicil is an additional document meant to be attached to your original will, containing changes to your will. It is also possible to make amendments to your original will. However, if they are not amended according to Singapore law it may give rise to your will being invalid or challenged. One of the risks and dangers of having a codicil is that it may get lost and not kept together with your original will.

It is generally more prudent to do a fresh will for the sake of clarity and good order since your will is such an important document. With a fresh will you have the peace of mind.

If a fresh will is made the old will and any copies should be destroyed by tearing or shredding to avoid confusion. It is also prudent to keep your executor informed.

For assistance regarding Will matters, do contact us to make an appointment.

Related Articles:

Wills

Business Succession

Lasting Power of Attorney

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