I have separated from my spouse - Do I need to update my will?
If you are married and have recently separated from your spouse, you must update your Will.
There is a generally a lengthy period of time in between separating and obtaining a divorce and a large number of people do not divorce until many years after separating.
If you were to pass away during that period, your spouse will be entitled to receive your assets, regardless of your separation and regardless of whether you are in the process of, or have finalised your property settlement.
You may have spent a significant sum of money on legal costs to finalise your property settlement, however, if you are still legally married at the time of your passing and have not updated your Will, your spouse will receive your assets.
This serious risk can be avoided if you simply make a Will after you separate. If you were to pass away before you are legally divorced, the Will prevents your spouse being entitled to your assets.
For more information on Wills contact Krystle Wolthers on (02) 4626 5077 or email Krystle on email@example.com