When Should You Review Your Will?
When did you last look at your Will?
If your answer is "I have absolutely no idea", you're in good company.
A lot of people make a Will, put the original somewhere safe, and then mentally tick the estate planning box forever.
Life doesn't work like that.
Your family changes. Your relationships change. Your assets change. The people you trust change. Your wishes change. And sometimes, the law changes too.
A Will that was exactly right five years ago might no longer produce the outcome you want today.
So, how often should you review your Will?
As a general rule, reviewing it every three to five years is a good starting point. You should also review it sooner if something significant changes in your life.
Quick Answer
When should you review your Will?
You should review your Will every three to five years and whenever there is a significant change to your family, relationships, finances, assets, or wishes.
Important reasons to review your Will include:
getting married
separating or divorcing
entering or ending a de facto relationship
having a child or grandchild
a beneficiary dying
your executor or guardian becoming unsuitable
buying or selling significant assets
significant reduction in assets or increases in debts/liabilities
starting or selling a business
receiving a substantial inheritance
retiring
moving interstate or overseas
changing your mind about who should benefit
significant changes to your superannuation or insurance
changes in your family relationships.
Some life events have specific legal consequences for your Will. For example, marriage generally revokes a Queensland Will unless an exception applies, while divorce revokes gifts and certain appointments in favour of your former spouse unless the Will provides otherwise.
How Often Should You Review Your Will?
There isn't a magic expiry date stamped on your Will. Your Will doesn't become invalid simply because it is five years old. The question is whether it still reflects what you want.
A sensible approach is: Review your Will every three to five years.
Then review it sooner whenever something significant happens.
Think of the three-to-five-year timeframe as a reminder to check in, rather than a rule that says you must rewrite your Will every five years. If you review it and everything is still right, you may not need to change anything. If your circumstances have changed, it may be time for a new Will.
Why Does Your Will Need Reviewing?
Your Will deals with decisions that can be deeply connected to your current life. When you made it, you might have:
had different assets
had different relationships
had young children
had different people in your life
owned a different home
worked in a different business
wanted different people to act as your executors
had different ideas about how your children should receive an inheritance.
Five or ten years later, the people and circumstances around you may look completely different. Your Will should keep up.
1. You've Gotten Married
Marriage is one of the biggest reasons to review your Will.
In Queensland, marriage generally revokes a Will unless an exception applies, including where the Will was made in contemplation of that marriage. So if you get married after making your Will, don't assume your existing Will still works exactly as you intended.
Review it. Make sure your new spouse is dealt with appropriately. Make sure your executor appointments still make sense. Make sure your gifts still reflect your wishes.
And if you have children from a previous relationship, make sure the new Will properly reflects your blended family.
2. You've Separated
Separation is another important time to review your Will. Separation does not automatically change your Will in the same way that divorce does.
That means if you have separated from your partner but haven't yet divorced, your existing Will may still contain provisions in their favour.
You may have appointed them as your:
executor
trustee
guardian
beneficiary.
If that's no longer what you want, your Will should be reviewed.
3. You've Divorced
Divorce has specific consequences under Queensland succession law.
A divorce or annulment generally revokes gifts to your former spouse and their appointment as executor, trustee, advisory trustee, or guardian under your Will, subject to the terms of the legislation and any contrary intention in the Will.
That doesn't mean you can forget about your Will after divorce. Quite the opposite. Your Will should be reviewed to make sure the rest of your estate plan still works.
For example, perhaps your former spouse was also:
the parent of your children
your executor
a trustee
the person you nominated to care for your children
the person you intended to receive your estate.
Your life may have changed considerably. Your Will should reflect that.
4. You've Entered or Ended a De Facto Relationship
Marriage isn't the only relationship change that matters. Entering or ending a de facto relationship can also be a good reason to review your Will.
You may have previously been single. You may now have a partner who you want to provide for. Or you may have ended a relationship and no longer want your former partner involved in your estate plan.
Don't assume that because you aren't married, your Will doesn't need updating.
5. You've Had a Baby
Having a child is an obvious reason to review your Will. Your priorities can change overnight. You may now need to think about:
who would care for your child if you died
who would manage an inheritance for them
when they should receive their inheritance
whether a testamentary discretionary trust is appropriate
who should act as executor
what happens if both parents die.
And your Will may have been written before your child existed. If your family has grown, your estate plan should grow with it.
6. Your Children Have Grown Up
This one is often overlooked. Your Will may still refer to your children as young children even though they're now adults. Perhaps your Will was drafted when your children were five and seven. They're now 23 and 25. Your intentions may have changed.
You might now want them to:
receive their inheritance outright
receive it through a trust
receive different amounts
have different trustees
benefit from different assets.
Your children becoming adults can be a good reason to revisit the structure of your estate plan.
7. You've Had Another Child
If you've had another child since your Will was prepared, review it. Don't assume a general clause dealing with future children will necessarily produce the outcome you want. Your family may also have changed in other ways since your last Will.
Perhaps you now have:
a blended family
stepchildren
adopted children
grandchildren
children from different relationships.
These circumstances deserve a proper review rather than an assumption that your old Will will somehow sort itself out.
8. A Beneficiary Has Died
What happens if someone you named in your Will dies before you? This can completely change the way you want your estate distributed. For example, perhaps your Will leaves your estate equally between your three siblings. One of them dies. You may want their share to pass to their children. Or perhaps you want the remaining siblings to receive everything. Your Will needs to be checked.
Don't assume the law will distribute the deceased beneficiary's share in the way you would choose.
9. Your Executor Has Died or Is No Longer Suitable
The person you chose as your executor might have been perfect when you made your Will. They might not be the right person now. Perhaps they have:
died
moved overseas
become seriously unwell
lost capacity
become elderly
become estranged from you
become financially unreliable
simply told you they no longer want the job.
Your executor has an important job. They will be responsible for administering your estate after you die. If you're no longer confident that your chosen executor is the right person, review your Will.
This is particularly important if you have appointed a number of people together and your family circumstances have changed.
10. Your Guardian Appointment No Longer Makes Sense
If you have young children, your Will may include a testamentary guardian appointment. The people you chose when your children were babies might not be the people you would choose today.
Perhaps your sister was your obvious choice when your children were two and four. They're now eight and ten. Your relationship with another family member may have changed. Or perhaps your chosen guardian has moved overseas.
Review it. Your children's needs change as they grow, and your preferred guardian may change too.
11. You've Bought a Property
Buying a home doesn't necessarily mean you need an entirely new Will. It does mean your estate plan should be reviewed.
The important questions include:
How is the property owned?
Is it owned jointly or in one person's name?
Is it owned by a trust or company?
Is there a mortgage?
Is it an investment property?
Do you want your spouse to receive it?
Do you want a child or other beneficiary to receive it?
The way you own an asset can affect whether it forms part of your estate at all. So don't just look at the Will. Look at the asset ownership too.
12. You've Sold or Received a Significant Asset
Perhaps you've sold the family home. Perhaps you've bought an investment property. Perhaps you've inherited a property from your parents. Perhaps you've received a large amount of money. Perhaps you've built up a substantial share portfolio.
Your Will may contain specific gifts that no longer make sense. For example, imagine your Will says:
"I give my holiday home at Noosa to my daughter."
You sell that property five years later. Your Will hasn't necessarily magically updated itself to reflect what you now want. Significant changes to your assets are a good reason to review your Will.
13. Your Financial Position Has Changed Significantly
Your estate may look very different from when you made your Will.
Maybe you've gone from owning:
A home, two cars and some savings
to:
A home, investment property, shares, superannuation, a business and substantial cash investments.
That can change the estate planning conversation considerably. You may need to reconsider:
who receives what
whether specific gifts still make sense
whether a testamentary discretionary trust is appropriate
how your superannuation fits into the plan
whether your business interests need special consideration.
14. You've Started or Sold a Business
Business owners should pay particular attention to this one. Your business interests may be some of the most valuable assets you own.
Your estate plan should consider:
what happens to your business interest
whether your interest can be transferred
whether there is a buy-sell arrangement
who can take over
whether your business partners have rights
whether your family can realistically manage the business
whether life insurance forms part of the succession strategy.
Starting a business is a good time to review your estate plan. So is selling one. So is bringing in a new business partner. So is changing the structure of your business.
15. You've Retired
Retirement can significantly change your financial position.
You may have:
stopped working
sold a business
downsized your home
received a redundancy or retirement payment
changed your superannuation strategy
started drawing a pension
accumulated significant retirement assets.
Your Will should be reviewed alongside these changes.
16. Your Superannuation Has Changed
Superannuation is an important part of many Australians' wealth, but your superannuation doesn't automatically form part of your estate.
How your super death benefit is dealt with depends on your arrangements and the relevant nomination. That means your Will and superannuation arrangements should be considered together.
For example, if you've changed your binding death benefit nomination, your Will may need to be reviewed to make sure your overall estate plan still produces the outcome you want.
This is particularly important where you have a blended family or want superannuation to ultimately pass through your estate.
17. Your Life Insurance Has Changed
Life insurance can also affect your overall estate plan.
You may have:
taken out a new policy
increased your cover
cancelled a policy
changed ownership
changed your nominated beneficiary.
A large life insurance policy can materially change the financial position of your surviving family. Review the Will alongside those arrangements.
18. You've Received an Inheritance
An inheritance can significantly change your estate. Maybe your parents have died and you've inherited:
a property
shares
cash
a family business
valuable personal items.
You may now have a much larger estate than when you prepared your Will. Your own wishes may also have changed because of what you've experienced during your parents' estates. It's a good time to review your plan.
19. Your Family Relationships Have Changed
This one doesn't always come with a neat legal label.
Perhaps you're no longer close to the person you appointed as your executor. Perhaps you've become much closer to a niece or nephew. Perhaps one of your adult children is financially independent while another needs significant support. Perhaps you've become a grandparent. Perhaps there has been a family breakdown.
Your Will should reflect your actual wishes, not relationships that existed years ago.
20. You've Moved Interstate or Overseas
If you've moved from Queensland to another state or overseas, your Will should be reviewed.
Different Australian states and territories have different succession laws. Overseas jurisdictions have different succession laws too. Your estate plan may need to account for more than one jurisdiction.
21. You've Changed Your Mind
You don't need a major life event to review your Will. You can simply change your mind.
Perhaps you originally wanted to divide your estate equally between your children. You've now decided you want to provide for your grandchildren too. Perhaps you originally wanted your sister as executor. You now prefer your brother. Perhaps you no longer want a particular person to receive a specific item.
Your Will should reflect your current wishes.
22. Your Wishes for Your Children Have Changed
This is particularly relevant for parents. Your Will might contain detailed arrangements about how your children's inheritance should be managed.
As your children grow, you may develop a different view about:
who should manage their inheritance
when they should receive it
whether they should receive it directly
whether a trust should be used
who should act as trustee
what happens if they die before receiving their inheritance.
Your estate plan should evolve with your children.
23. Your Executor or Family Doesn't Know Where Your Will Is
This is a practical one. A Will isn't much use if nobody knows where the original is.
Your executor should know:
that you have a Will
where the original is held
where your other important estate planning documents are located.
You don't necessarily need to give your executor a copy of the Will or tell them everything in it. But they need to know where to find the document when it is needed.
This is also a good opportunity to review whether your estate planning documents are stored together and whether the people who need to know can locate them.
Does an Old Will Automatically Become Invalid?
No. An old Will doesn't automatically expire because it has been sitting in a drawer for ten years. A Will can remain valid even if it is old.
The issue is whether it still reflects your wishes and whether your circumstances have changed. There are also specific circumstances where Queensland law affects the operation or revocation of a Will. For example, marriage generally revokes a Will unless an exception applies, while divorce affects gifts and appointments in favour of a former spouse.
This is why you shouldn't rely on age alone.
Do You Need a New Will Every Time Something Changes?
No. A change in your circumstances doesn't necessarily mean you need to rewrite your Will.
Sometimes the outcome you already have is still exactly what you want. Sometimes a particular issue can be addressed through another part of your estate plan. And sometimes the right answer is a completely new Will.
The important thing is to review the position rather than assume your existing Will still works.
What About Making a Codicil?
A codicil is a legal document that changes or supplements an existing Will. There are circumstances where a codicil can be appropriate.
For many people, though, a new Will is the cleaner option, particularly where there have been several changes since the original Will was prepared.
The right approach depends on the document and the changes you want to make. This is one of those areas where DIY amendments can create unnecessary problems. Don't write changes onto your Will and assume they're legally effective.
What Should You Check When Reviewing Your Will?
Start with your life. Ask yourself:
Your family
Who is in my immediate family now?
Have I had any children or grandchildren?
Has anyone died?
Have I gained stepchildren?
Have family relationships changed?
Your relationships
Am I married?
Am I separated?
Am I divorced?
Am I in a new relationship?
Would I still want my current partner to benefit?
Your executors
Who are my executors?
Would they still be my first choice?
Are they still willing and able to act?
Do I have an appropriate backup?
Your children
Who would care for my children if I died?
Are my guardian appointments still appropriate?
How should my children's inheritance be managed?
Your assets
What do I own now?
Have I bought or sold property?
Have I received an inheritance?
Do I own a business?
Have my investments changed?
Your superannuation and insurance
Who is nominated to receive my super?
Has my binding death benefit nomination changed or expired?
Who receives my life insurance?
Does this still fit with my Will?
Your wishes
Do I still want the same people to benefit?
Are my specific gifts still relevant?
Do I still want the same things for my children?
Are there any wishes I haven't documented?
Don't Forget the Rest of Your Estate Plan
Reviewing your Will is important. Your Will isn't necessarily your entire estate plan.
When you review it, also consider whether your other documents and arrangements still work together.
That might include your:
life insurance nominations
property ownership
family trust arrangements
business succession arrangements
You don't want your Will saying one thing while another part of your estate plan points somewhere completely different.
What About Your Letter of Wishes?
If you have a Letter of Wishes, review that too.
Your Letter of Wishes can contain practical and personal guidance for your executors and trustees that doesn't belong in the formal legal document. For example, you may have included wishes about:
your children's upbringing
how you want your children's inheritance managed
family traditions
personal possessions
funeral or memorial wishes
people you want your children to remain connected with.
As your children grow and your circumstances change, those wishes may change too. Your Letter of Wishes should be reviewed alongside your Will.
What About Your Enduring Power of Attorney and Advance Health Directive?
Your incapacity documents deserve their own review.
Your Enduring Power of Attorney deals with who can make certain financial and personal decisions for you while you're alive if you lose capacity.
Your Advance Health Directive can record your own directions about future healthcare.
If your relationship with your attorney has changed, your Enduring Power of Attorney should be reviewed. If your healthcare wishes have changed, your Advance Health Directive should be reviewed.
Your Will review is a good opportunity to check the whole estate plan.
What Happens If You Don't Review Your Will?
You might die with a Will that exists but doesn't reflect what you actually wanted.
That can create:
unintended beneficiaries
outdated executor appointments
outdated guardian appointments
gifts that no longer make sense
uncertainty for your family
disputes between beneficiaries
additional work for your executor
potential family provision claims.
Your Will is meant to make things clearer for your family. An outdated Will can do the opposite.
Frequently Asked Questions
How often should I review my Will?
A good general rule is to review your Will every three to five years, and sooner if there is a significant change in your family, relationships, finances, assets or wishes.
Do I need to update my Will when I get married?
Yes, you should review your Will after marriage. In Queensland, marriage generally revokes a Will unless an exception applies, including where the Will was made in contemplation of the marriage.
Do I need to change my Will if I separate?
You should review it. Separation does not automatically change your Will in the same way as divorce, so your existing Will may still contain gifts or appointments you no longer want.
Does divorce invalidate a Will in Queensland?
Divorce does not simply make your entire Will disappear. Under Queensland law, divorce or annulment generally revokes gifts and certain appointments in favour of your former spouse, subject to the legislation and any contrary intention in the Will.
Should I update my Will when I have a baby?
Yes. Having a child is a good reason to review your Will, particularly your arrangements for guardianship and how your child's inheritance will be managed.
Should I update my Will if my executor dies?
Yes. If your executor dies, becomes unable to act or is no longer someone you trust to administer your estate, your Will should be reviewed.
Should I update my Will when I buy a house?
Buying property is a good reason to review your estate plan, particularly if the property is significant or your ownership structure has changed. You should consider how the property is owned and whether it forms part of your estate.
Does my Will need to be updated when I receive an inheritance?
Not necessarily, but a significant inheritance is a good reason to review your Will because the value and nature of your estate may have changed considerably.
Can I change my Will without making a new one?
Sometimes a codicil can be used to amend an existing Will, but a new Will may be more appropriate depending on the changes required. Don't make handwritten changes to your Will without obtaining legal advice.
What if nothing has changed since I made my Will?
You may not need to change it. A review can simply confirm that your Will still reflects your wishes.
In Summary
You don't need to wait for a major life crisis to review your Will. A good rule is to review it every three to five years and whenever something significant changes.
Get married? Review it.
Separate or divorce? Review it.
Have a baby? Review it.
Buy a business? Review it.
Sell the family home? Review it.
Receive an inheritance? Review it.
Lose touch with your executor? Review it.
Change your mind about who should inherit? Review it.
And if you can't remember when you last looked at your Will, that's probably a pretty good sign that it's time for a review.
Your Will should reflect the life you're living now, not the life you were living when you signed it.
The information in this article is provided for general information and educational purposes only. It is not legal advice and should not be relied upon as a substitute for advice about your individual circumstances.
Estate planning and succession laws can be complex and may vary depending on your circumstances. The information in this article is current as at the date of publication and may change over time.
If you need advice about your own circumstances, you should obtain independent legal advice from a qualified lawyer.