When you will need to rewrite your Will? (1)

Situations where Testators need to consider rewriting their Wills

1. Marital status changes
Examples:

• single to married
• married to divorced or legally separated
• remarrying
• single spouse to multiple spouses

** Need to review whether objectives have changed and instrument meets changed objectives

2. Relationship changes

• Testator enters into a de facto relationship with a companion without formalising into marriage
• Testator enters into a homosexual relationship with a companion

3. Financial status changes

• When testator has significant financial changes, e.g. new business, winning lotteries, etc.
• If he has a significant increase in liabilities, distribution to beneficiaries from residual assets may be affected

4. Executor status changes
If an executor is not a trust corporation like RWT, he can cease to act because of

• death
• incapacity
• unsound mind
• change of heart in that he becomes unwilling to act
• migration to another country

** Appointment of a trustee executor that exists in perpetuity, such as RWT should be considered

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