I have a Will, so now what?
Once you have signed a will important things to consider include where to store your will, who to tell about your will and when to update your will. Here are some helpful points to remember.
Where to store you will?
Once your will is signed it is important to store your will in a safe place that can be accessed by your executors. Some suggestions include:
- a safe or fire-safe filing cabinet in your home;
- the ACT Supreme Court; and
- your Bank.
Who do I tell about my will?
While you do not need to tell anyone what is in your will, it is important that your executors and/or next of kin know:
- that you have a will;
- where it is stored; and
- how to access your will should the need arise.
It is also helpful to store information with your will such as where you have bank accounts, documents such as Certificate of Title documents to properties you own and a list of your assets, liabilities and superannuation. This will assist your executors to know what you have and where they will need to make enquiries.
When do I update my will?
It is important that you consider updating your Will over time and also if there is a are major life event including:
- if you buy or sell a property;
- if you marry;
- if you you separate;
- if you have children; and
- if someone who is named in your Will passes away.
Updating your Will at these times will help to ensure that what you want to happen to your estate (your assets) occurs.
If your Will is not up to date then unexpected outcomes may occur when your estate is being distributed to those named in your will.
If you want to know more, contact Claire Naidu & Co, Lawyers and Mediators. Click here for our contact details.
Note: This blog does not constitute legal advice and Claire Naidu & Co is not responsible for any reliance upon its contents in the absence of legal advice being provided to you in conference or in writing concerning your specific circumstances.