Hi there, I’m Richard Dawson, the partner in the estate team here at OMB. Today I’m going to be talking about have you updated your will and power of attorney? And is it time for you to do so.
If you haven’t looked at it recently, I’d like you to think about a number of circumstances which might give rise to whether or not you should update your will and power of attorney.
For example, have you actually looked at it in the last five years? Just imagine what you were doing five years ago and I guess everyone life changes.
But what happened five years ago that is different to today, and should that be a circumstance where you would update your will? Have you married in that time? Have you divorced in that time? Have you found yourself a new partner? Have you got more children or grandchildren? And are they named in your will?
You might also consider the beneficiaries and the executors who are appointed in your will and the attorneys appointed under your enduring power of attorney, and ask yourself, are those people the most appropriately named persons to hold those positions under your current circumstances?
If the answer to that is no, then it’s definitely a time for you to update your will and or your power of attorney. So what I’m asking you to do is go and revisit, have a look at your current will and power of attorney and if it needs updating, just reach out to us and we’ll take it over from there and we’ll keep it as simple and straightforward process as we possibly can.
Thanks again for listening.