Passing away without a will?
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A man passed away without updating his will after divorcing his wife. As a result, his former wife will receive all of his assets as she is still listed as the sole beneficiary and executor in his outdated will. The document warns that dying without an updated will can be expensive and chaotic for loved ones, as one's wishes may not be followed. It encourages people not to delay drafting a new will after major life changes to ensure their assets go to the people they currently want.
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Passing away without a will?
- 2. Passing away without a Will?
- 4. Passing away without a Will can be very expensive and chaotic for those left behind. One of our recent family law clients, passed away. We had discussed the necessity to prepare a Will with him many times but he kept on saying, wait until all of these other issues have been dealt with.
- 5. His family issues (which were particularly onerous and expensive to finalise) were resolved 6 months ago resulting in him having to pay his former wife a large percentage of the marital assets.
- 6. He had not changed his old Will (the one prepared prior to separating from his wife) naming her as the executor and sole beneficiary. Now that he has passed away, his former wife is about to receive all of his assets, notwithstanding that the couple has already split their marital assets.
- 7. Don’t be caught without an up-to-date Will. If you do, you may find that your executor(s) may turn out to be someone that you no longer trust or even like.
- 8. For more details Visit us @ http://www.bambricklegal.com.au/ Or Call us Today! (08)8362 5269