It is possible for you anytime to update your will and change it according to their preference through the codicil, which is a supplement explaining the modification of a bill or destroy an existing will or the same codicil. All these clauses fall under the Wills Act 1970. An individual should keep this in mind that codicil must be updated in such a way that there should not be any confusion with the original one, having any contradiction may affect the validity of the will. The validity of the codicil will be decided by the Supreme Court and the chosen people for the division of the will may be left with quite less regardless of the decision of the Supreme Court.
Our attorneys always suggest that the best way to update your will is to have a total professionally drafted will when the individual is willing to update their will. This should be done in order to reflect the significant changes in the circumstances of the will of an individual. Destroying the codicil without having a proper valid will can be of lot of trouble for the individual. Consult Estate Lawyers Perth to have the best consultation regarding the confusion that you can while updating your will or how often should you update your wheel.
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If an individual does not update their will then:
- All the assets will be automatically managed by wrong people and the assets would also be distributed among wrong individuals after their death
- A person close to an individual has the right to challenge the will if the share of property is not satisfactory
- The will of an individual may come to a hold due to marriage or divorce
Each time an individual update their existing will, there will be a declaration of testament that the previous will is revoked and does not come in action if needed. This will all be done under the supervision of the respected attorney.
All the wishes of an individual may not grant properly if it does not satisfy the requirements of the Wills Act 1970.
If you are still confused regarding whether to have your will updated or may having some doubt regarding the existence of the current will then get in touch with the professional attorneys of Estate Lawyers Perth. We are just a call away. Also email is another way to reach us.