Update your Will after you Separate

What happens to your property  if you die without a Will after you separate from your spouse?

Unless you have started divorce proceedings, the laws of intestacy will apply and your estranged spouse will receive the whole, or a significant part, of your Estate.

The best way to ensure that your Estate doesn’t pass to the wrong person is to make a Will or to update your Will after you separate from your ex-spouse.

You don’t need anyone’s permission to do this and even if you have an existing Will, this can be changed easily and without fuss.

Likewise with your super funds – making a binding death benefit nomination means that the trustee of the super fund must pay the funds as directed by you and has no discretion to pay them to anyone else.  This is particularly important if you have separated under the same roof and it may not be obvious that you have actually separated.

If you already have a Will, then it is essential that you update your Will.  If you die after you have commenced court proceedings, your Executor can continue the proceedings on your behalf, but what if your Executor is your ex-partner?  Consider the complications, additional costs and delays this would create, all because you didn’t update your Will.

Updating or making an Enduring Power of Attorney is also critical when you separate.  If you become incapacitated and need someone to manage your legal and financial affairs, then without an Enduring Power of Attorney, an application needs to be made to the NSW Civil and Administrative Tribunal.

This is  a costly and time-consuming process which can be avoided if you take some time to make an Enduring Power of Attorney.

There is so much to do and think amount when you separate from your partner or spouse.

One thing you need to place high on your list of priorities is updating your estate planning documents after you separate.

At Cominos Family Lawyers, we make this task easy for you by including the option to make a Will and Enduring Power of Attorney at your initial consultation.

Contact us on 02 8999 1800.