Many people take the important step of making a will and then place it in a drawer, assuming the job is done. However, life changes. Families grow, relationships evolve, assets are acquired or sold, and circumstances can change significantly over time.
A will that was perfectly appropriate five or ten years ago may no longer reflect your wishes or adequately protect your family. At Foley Douglas Lawyers, we regularly assist clients with reviewing and updating their wills to ensure their estate planning remains effective and up to date.
As a general rule, we recommend reviewing your will every few years, and whenever a significant life event occurs, such as:
- Marriage or entering a new relationship
- Separation or divorce
- The birth of a child or grandchild
- Buying or selling property
- Starting or selling a business
- Receiving an inheritance
- The death of a beneficiary, executor, or trustee
Keeping your will up to date can help reduce the risk of disputes, delays, unnecessary costs, and outcomes you never intended.
What Can Go Wrong If Your Will Is Out of Date?
- A Family Member Challenges the Estate
New Zealand law allows certain family members to challenge a will if they believe they have not been adequately provided for. Children, spouses, partners and, in some circumstances, grandchildren, stepchildren and parents may be able to bring a claim under the Family Protection Act 1955.
Even where a person has deliberately been left out of a will, the Court may order that they receive provision from the estate.
A common situation arises where a will-maker becomes estranged from an adult child and removes them from the will without obtaining legal advice or documenting their reasons. This can significantly increase the likelihood of a claim after death.
Obtaining advice from an experienced estate-planning lawyer when updating your will can help minimise the risk of future estate disputes.
- Someone Claims They Were Promised Something
Another common source of estate litigation arises where a person claims they were promised a benefit in exchange for work, services, or care provided during the deceased’s lifetime.
These claims are brought under the Law Reform (Testamentary Promises) Act 1949 and can be made even if the person is not named in the will. Recent New Zealand cases continue to demonstrate that such claims can succeed where sufficient evidence of the promise exists.
For example, a family member who spent years caring for an elderly parent, helping on a farm, or managing rental properties may later claim they were promised compensation from the estate.
Proper estate planning and regular will reviews can help identify and address these risks before they become costly disputes.
- Your Assets or Family Circumstances Have Changed
We regularly see wills that refer to assets that no longer exist, former relationships, or beneficiaries who have passed away.
While many drafting issues can be resolved, outdated wills often create uncertainty, increase administration costs, and sometimes lead to disputes between family members.
For example, a will drafted when a person owned one property may no longer reflect their intentions after selling that property, purchasing another, entering a new relationship, or welcoming additional grandchildren.
Sometimes a parent may help one child financially during their lifetime and intend to adjust matters later through their will but simply forget to do so. In other cases, unclear or outdated drafting can result in Court proceedings to determine what the deceased intended.
A Simple Will Review Can Save Significant Cost Later
A will review is usually straightforward and relatively inexpensive. By contrast, estate disputes can take months or even years to resolve and can substantially reduce the value of the estate available for beneficiaries.
Estate litigation is often emotionally draining for families at a time when they are already grieving.
If it has been several years since you last reviewed your will, or if your circumstances have changed, now is a good time to ensure your estate plan still reflects your wishes.
Need to Review Your Will?
At Foley Douglas Lawyers, we assist clients in the Waikato and throughout New Zealand with wills, estate planning, trusts, enduring powers of attorney, and estate administration.
If you would like to review your existing will, discuss changes in your circumstances, or ensure your estate planning remains up to date, our friendly team is here to help.
