A change in your personal relationships (such as marriage or divorce) can have a significant impact on your life. Similarly, it is important to consider how these changes can also impact on your estate planning.
Changes in relationship status
Shown in the table below are some of the common changes in relationships that an individual may face during their lifetime, and the corresponding affects on that individual’s personal estate planning in Queensland.
| Change in relationship | Affect on your Estate Planning |
|
If you separate or become estranged from a spouse (marital or civil partner) |
This event will not generally have the effect of automatically revoking your will, any enduring power of attorney or Binding Death Benefit Nomination. |
|
If you separate from a defacto partner (including a same sex partner) |
This may revoke your will, but will not revoke your enduring power of attorney or Binding Death Benefit Nomination. |
| If you enter into a defacto relationship (including a same sex partner) |
This will not revoke your will, your enduring power of attorney or your Binding Death Benefit Nomination. |
| If you divorce |
Your will may be automatically revoked (either partially or fully). The power of attorney will be revoked to the extent that it was given to your former spouse. The Binding Death Benefit Nomination may not be affected. |
| If you marry |
With some exceptions (such as wills made in contemplation of marriage), your will may be automatically revoked (either partially or fully). The power of attorney will be revoked unless your new spouse is already your attorney. Note that if your new spouse is your attorney, the only power that is revoked is the power of any other attorney you may have. The Binding Death Benefit Nomination may not be affected. |
Steps to take
As you can see, the legal implications resulting from a change in your relationship status may not align with your desired intentions. It is important that you give immediate and due regard to how a change to your personal relationship may impact on your estate planning, and contact your Lawyer to create new documents where appropriate.
Other life events to consider
Other common life events that may warrant you to again consider your estate planning include the birth of a child and the death of anyone named in your Will, Enduring Power of Attorney and / or Binding Death Benefit Nomination.
Contact us
Contact us to discuss your own personal circumstances and whether it is time for you to create new estate planning documents. You can find out more about creating new estate planning documents on our website.
Speak to our Gold Coast Estate Planning Lawyers Ph: 1300 941 900
Our Gold Coast Estate Planning Lawyers can be contacted at:
Boorman Lawyers NSW & QLD Solicitors
Gold Coast Estate Planning Lawyers: How relationship changes affect your estate planning