Life Changed. Did Your Will?

Many write their Will after major milestones, like getting married, buying a home, starting a family, or building meaningful assets. Once signed, the document is often stored away and forgotten.

Why Updating Your Will Matters 

A Will is based on your personal and financial circumstances at the time it is signed. 

Then the years pass. Children grow up, relationships change, new property is purchased, or overseas assets are acquired. 

Many think Wills should be revisited in old age or retirement, forgetting major life events happen at many stages of adulthood. An outdated Will could name the wrong executor, leave out new family members, overlook major assets, or create outcomes you never intended.

Marriage and Divorce

Many people are unaware that, under the Singapore Wills Act, marriage (including remarriage) generally revokes any existing Will unless it was made in contemplation of that particular marriage. 

Remarriages add another layer when there are children from an earlier relationship to be considered.

When family structure changes, a Will should be reviewed to ensure it reflects current wishes clearly and fairly. 

Unlike marriage, divorce does not automatically revoke your Will. An ex-spouse who remains named in your Will may still inherit or continue as executor unless the Will is updated.

Birth or Adoption of Children 

The introduction of a child in a couple’s life, biological or adopted, is one of the clearest triggers to review your Will. 

Besides asset distribution, parents should consider: 

• Guardianship: Who should care for your child if both parents pass away 
• Trust arrangements: Who should manage assets for your child while they are minors 
• Inheritance: What age should your children receive their share

Without updating your Will, guardianship arrangements may be left for the courts to determine, and your Will may no longer reflect how you intend to provide for your children.

Changes to Will Executors 

Besides updating who receives assets in your Will, who should carry out your wishes matters just as much. 

Circumstances change; the executor could have moved abroad, passed away or no longer be right for the job. Revisiting your chosen executor and whether they are still able and willing to act is an essential step when reviewing your Will. 

The executor plays a vital role in administering your estate and carrying out the wishes set out in your Will. There is often more involved than many people realise.

Major Changes in Family Relationships 

Family relationships sometimes evolve in unexpected ways. Reconciliation, estrangement, new dependents, ageing parents who require support, or relatives who have become financially dependent on you may all affect how you wish your estate to be distributed. Reviewing your Will helps ensure it continues to reflect your intentions.

Moving Overseas or Acquiring Cross-Border Ties

People who relocate to another country may acquire overseas bank accounts, own foreign property or develop family ties across more than one jurisdiction.

Every country has its own succession laws and probate procedures. In some situations, separate Wills prepared for different jurisdictions may be appropriate, but they should be carefully coordinated to avoid unintentionally revoking one another.

 What a Will Review Involves

Reviewing your Will does not mean starting from scratch. It typically involves checking that your named beneficiaries, executor, and (if applicable) guardianship and trust arrangements still reflect your current intentions. It is also an opportunity to ensure your Will remains appropriate for your current personal and financial circumstances. If any of the events above apply to you, it is worth speaking to a lawyer to review your existing Will rather than assuming it still meets your needs.

How Often Should You Review a Will?

Even without a major life event, many benefit from reviewing their Will periodically. A practical guide is to review it after any major change, or every three to five years to ensure it continues to reflect your wishes and current circumstances.

Conclusion 

A Will that was once suitable can gradually become outdated, often without you realising it too late.

The real risk is not just having no Will. It is relying on one that no longer protects the people who matter most. When that happens, loved ones may be left with uncertainty, delay and difficult decisions at the worst possible time.

Writing a Will is important. Reviewing and updating it as life changes is just as important.

Disclaimer:

The content of this article does not constitute legal advice and should not be relied on as such. Specific legal advice should be sought for your circumstances.