RELATIONSHIP CHANGES AND YOUR ESTATE PLANNING

Once someone finalises their estate planning documents, they generally put them to the side and not think about them again. However, this is a crucial mistake because as your life evolves, your estate planning documents could be impacted. With a specific focus on New South Wales, this article will explore how marriage, separation and divorce will affect your Will, Power of Attorney and Appointment of Enduring Guardian documents.

MARRIAGE AND YOUR WILL

A Will signed before marriage is revoked when you get married, unless you have a specific clause in your Will altering this outcome.

SEPARATION AND YOUR WILL

Separating from your spouse does not revoke your Will. If you wish to change your Will after you separate from your spouse, you will need to sign a new Will.

DIVORCE AND YOUR WILL

Divorcing your spouse does not invalidate your Will, however any mention of your spouse in your Will is disregarded and the alternate person(s) appointed will take their place.

MARRIAGE AND YOUR POWER OF ATTORNEY

The validity of a Power of Attorney signed before marriage is not impacted if you get married.

SEPARATION AND YOUR POWER OF ATTORNEY

Separating from your spouse does not impact the validity of your Power of Attorney. If you wish to change your Power of Attorney after you separate from your spouse, you will need to revoke the existing and prepare a new document.

DIVORCE AND YOUR POWER OF ATTORNEY

Divorcing your spouse does not impact the validity of your Power of Attorney. If you wish to change your Power of Attorney after you divorce your spouse, you will need to revoke the existing and prepare a new document.

MARRIAGE AND YOUR APPOINTMENT OF ENDURING GUARDIAN

An Appointment of Enduring Guardian document signed before marriage will be revoked when you get married, unless your spouse is the person nominated as your Guardian.

SEPARATION AND YOUR APPOINTMENT OF ENDURING GUARDIAN

Separating from your spouse does not impact the validity of your Appointment of Enduring Guardian. If you wish to change your Guardianship appointment after you separate from your spouse, you will need to revoke the existing and prepare a new document.

DIVORCE AND YOUR APPOINTMENT OF ENDURING GUARDIAN

Divorcing your spouse does not impact the validity of your Appointment of Enduring Guardian. If you wish to change your Guardianship appointment after you divorce your spouse, you will need to revoke the existing and prepare a new document.

YOUR NEXT STEPS

• Ensuring you have the most trusted people nominated to honour your wishes is important when preparing your estate plan, and many people are unaware how their relationship changes can impact these documents, meaning the wrong person could be in charge of your affairs.

• As your life changes, VIVMAR Lawyers can help you identify the impacts and required changes to your estate planning.