---
title: "What are the signs it's time to update my Will? - Sapience Financial"
description: "Wills and other estate planning documents (like a Power of Attorney or Medical Guardianship) are 'live documents' that naturally need to be updated regularly."
url: "https://mail.sapience.com.au/blog/when-should-i-update-my-will"
date: "2026-05-26T16:18:01+00:00"
language: "en-GB"
---

#  What are the signs it's time to update my Will?

- ⚖️ Estate Law & Succession Planning
- [ family health & safety ](https://mail.sapience.com.au/all-tags/family-health-safety)
- [ power of attorney ](https://mail.sapience.com.au/all-tags/power-of-attorney)
- [ Wills ](https://mail.sapience.com.au/all-tags/wills)
- [ modern estate planning ](https://mail.sapience.com.au/all-tags/modern-estate-planning)
- [ ⚖️ Estate Law & Succession Planning ](https://mail.sapience.com.au/insights/estate-law-succession)

  ![person making changes and redecorating their home](https://mail.sapience.com.au/images/blog/when-should-i-update-my-will-sapience-financial.jpg) If youre making some changes in your life and surroundings, it might be time to update your Will as well Reading Time: 6 minutes

---

### One of the common questions in the back of many people's minds is *when* should I update my Will and Power of Attorney documents?

Wills and other estate planning documents (like a Power of Attorney or Medical Guardianship) are 'live documents' that naturally need to be updated at different times of our life.

The trick is to learn to recognise the signs when you need to consider an update.

---

Now that assumes you have a Will or Power of Attorney already in place, **and if you don't, we're more than happy to help you out with a complete** solution.

But if you do have a Will or Power of Attorney documents already in place, here is a quick checklist outlining some of the trigger events to watch out for that may indicate it's time to review and update your estate planning paperwork.

#### *Read in this article*

 - [Signs you may need to update a Will or a Power of Attorney document ](https://mail.sapience.com.au/blog/when-should-i-update-my-will#signs-you-may-need-to-update-a-will-or-a-power-of-attorney-document)

    - [Have You:](https://mail.sapience.com.au/blog/when-should-i-update-my-will#have-you)

    - [Have your Executor(s) of your Will:](https://mail.sapience.com.au/blog/when-should-i-update-my-will#have-your-executor-s-of-your-will)

    - [Have any of the Beneficiaries to your Will:](https://mail.sapience.com.au/blog/when-should-i-update-my-will#have-any-of-the-beneficiaries-to-your-will)

- [An important note on storing your Will](https://mail.sapience.com.au/blog/when-should-i-update-my-will#an-important-note-on-storing-your-will)
- [Special provisions of clients of Sapience Financial & Finally Sorted](https://mail.sapience.com.au/blog/when-should-i-update-my-will#special-provisions-of-clients-of-sapience-financial-finally-sorted)

- [Frequently Asked Questions: Updating Your Estate Plan](https://mail.sapience.com.au/blog/when-should-i-update-my-will#frequently-asked-questions-updating-your-estate-plan)

    - [What is the 'Contemplation of Marriage' rule?](https://mail.sapience.com.au/blog/when-should-i-update-my-will#what-is-the-contemplation-of-marriage-rule)

    - [How does a change in my business interests affect my Will?](https://mail.sapience.com.au/blog/when-should-i-update-my-will#how-does-a-change-in-my-business-interests-affect-my-will)

    - [Why should I update my Will if an Executor or Beneficiary changes their name or gender?](https://mail.sapience.com.au/blog/when-should-i-update-my-will#why-should-i-update-my-will-if-an-executor-or-beneficiary-changes-their-name-or-gender)

    - [I’ve made a significant loan to a family member; do I need to update my Will?](https://mail.sapience.com.au/blog/when-should-i-update-my-will#ive-made-a-significant-loan-to-a-family-member-do-i-need-to-update-my-will)

    - [What is the risk of an 'Outdated' Power of Attorney?](https://mail.sapience.com.au/blog/when-should-i-update-my-will#what-is-the-risk-of-an-outdated-power-of-attorney)

### Signs you may need to update a Will or a Power of Attorney document

Here are some more obvious trigger events that could mean its time to review your Estate planning documents

#### Have You:

- Changed your name?
- Changed your gender marker?
- Changed your main residence?
- Gotten married, divorced, started a de-facto relationship or separated from your spouse?
- Had one or more children?
- Entered into a binding financial agreement before, during or at the end of a relationship?
- Started a business or a high-risk occupation or become a director or manager of any commercial enterprise?
- Become bankrupt or have solvency concerns?
- Invested in or acquired assets located outside of your home jurisdiction in Australia?
- Has the size of your estate significantly increased or decreased?
- Have you acquired significant assets jointly with a spouse or third party?
- Have you received a significant inheritance?
- Did you make any significant loans or gifts to family members, friends or third parties?
- Have you established any new companies, trusts, partnerships, or a self-managed superannuation fund?
- Have you entered into a new agreement with a third party that could affect your estate plan e.g., buy-sell agreements or partnership agreements?
- Are you worried that someone could challenge your estate planning arrangements?

#### Have your Executor(s) of your Will:

- Changed their name?
- Changed their gender marker?
- Changed their main residence?
- Gotten married, divorced, started a de-facto relationship or separated from their spouse?
- Lost the ability to manage their affairs or become financially irresponsible?
- Become estranged from you?
- Passed away?

#### Have any of the Beneficiaries to your Will:

- Changed their name?
- Changed their gender marker?
- Changed their main residence?
- Gotten married, divorced, started a de-facto relationship or separated from their spouse?
- Lost the ability to manage their affairs or become financially irresponsible?
- Become estranged from you?
- Passed away?

### An important note on storing your Will

**Pro Tip**: A note on document storage. **Important**: Keep your Will safe - but don't hide it so that it can never be found. Storing the original signed (executed) document safely is important and it should be kept somewhere secure and known. A bank safe deposit box or a home filing cabinet in a conspicuously marked coloured envelope are good low-cost options. Fortunately for client of Sapience Financial they have access to our new [National Secure Document Storage Service ](https://mail.sapience.com.au/index.php?option=com_content&view=article&id=459:new-national-secure-document-storage-service&catid=83:blog)- for life.

### Special provisions of clients of Sapience Financial & Finally Sorted

Sapience clients have access to our Secure Customer Portal accessible 24/7 through our bank-grade progressive web app.
Here they can:

- keep **scanned copies of their key legal documents in** their own secured online folder to ensure a master copy of the will is available to compare with the original to validate it has not been altered
- **record and update their Executor's name** and contact details,
- **record and update a description of the location where they currently store their original physical documents**
- use our **National Will storage service** for an independent solution.

This means at the right time, the right people have access to the right documents.

If you would like to update your Will or Power of Attorney, (or perhaps you have always wanted to get your estate planning finally sorted), we have the complete solution for you, so get in touch today.

---

### Frequently Asked Questions: Updating Your Estate Plan

#### What is the 'Contemplation of Marriage' rule?

In the 2026 legal landscape, marriage remains a primary "revocation event." Unless your Will explicitly states it was made **"in contemplation of marriage"** to your specific partner, the act of getting married legally cancels your existing Will. This can leave your new spouse and family in a "Financial Train Wreck" of intestacy if the document is not updated immediately.

#### How does a change in my business interests affect my Will?

If you have started a business, become a **Company Director**, or established a Family Trust since your last Will, your estate plan is likely obsolete. Your Will must account for the succession of shares and control of these entities. Failing to do so can result in a "locked" company where no one has the legal authority to pay staff or manage accounts upon your passing.

 [Image: Timeline of commercial triggers necessitating a Will update]

#### Why should I update my Will if an Executor or Beneficiary changes their name or gender?

While a name or gender marker change doesn't technically invalidate a gift or appointment, it adds significant **administrative friction** and cost during the Probate process. In 2026, identity verification is clinical; ensuring your legal documents match current identity records provides the "Absolute" certainty required for a smooth transition of assets.

#### I’ve made a significant loan to a family member; do I need to update my Will?

Yes. To maintain family harmony and "Sovereign" fairness, you must decide if that loan is to be **forgiven** upon your death or **deducted** from that person's share of the estate. Without clear instructions in your Will, executors may be legally forced to pursue the relative for repayment, causing avoidable emotional and financial conflict.

#### What is the risk of an 'Outdated' Power of Attorney?

A Power of Attorney manages your life while you are still here but unable to speak for yourself. If your appointed attorney has passed away, become estranged, or lost their own capacity, you are left **vulnerable and unprotected**. We recommend a "Black and White" review of your appointments every 3 to 5 years to ensure your protectors are still capable of protecting you.

*Disclaimer: Estate planning laws are subject to state-based legislation in Australia. In 2026, the complexity of digital assets and blended families requires professional oversight. For a strategic audit of your current documents, we recommend a [confidential consultation](https://mail.sapience.com.au/contact).*

**Do we sound like the type of people you'd like to do business with?**
 Call us today on 1300 137 403 or email us [here](https://mail.sapience.com.au/index.php?Itemid=704) for a no-obligation private chat about your situation.

---

![author pic drew browne](https://mail.sapience.com.au/images/author-pic/contact-drew-browne-advisor-sapience-financial.jpg)**Drew Browne** is a specialty Financial Risk Advisor working with Small Business Owners & their Families, Dual Income Professional Couples, and diverse families. He's an award-winning writer, speaker, financial adviser and business strategy mentor. His business Sapience Financial Group is committed to using business solutions for good in the community. In 2015 he was certified as a B Corp., and in 2017 was recognised in the inaugural Australian National Businesses of Tomorrow Awards. Today he advises Small Business Owners and their families, on how to protect themselves, from their businesses. He writes for successful Small Business Owners and Industry publications. You can read his Modern Small Business Leadership Blog [here](https://mail.sapience.com.au/index.php?Itemid=1267). You can connect with him on [LinkedIn](https://www.linkedin.com/in/drewbrowne/).  Any information provided is general advice only and we have not considered your personal circumstances. Before making any decision on the basis of this advice you should consider if the advice is appropriate for you based on your particular circumstance.

![Written by Human Not made by AI sapience financial ](https://mail.sapience.com.au/images/icons/not-made-by-AI-sapience-financial-black.png)

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