How Often Should You Update Your Will?

Drafting a will is one of the most important steps in protecting your family’s future, but it should never be seen as a once-off exercise. As your life evolves, so too should your estate planning.

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“Your will is a roadmap for how your estate will be distributed when you die,” explains Stacy Rouchos, Attorney and Estate Planning Specialist at Hobbs Sinclair Advisory. “It’s often an emotional document to prepare, which is why many people avoid thinking about it until later in life. But the truth is, your will should be adapted as your family circumstances and priorities change.”

 

For many young people in their twenties, the idea of drafting a will can feel unnecessary — especially if they don’t yet own significant assets. But Rouchos notes, “It’s not only about what you have now. Your will should cover not just your present assets, but your future ones as well. Even a simple will that names an executor makes winding up your estate far easier, and it allows for sentimental items, funeral wishes, and small bequests to be honoured.”

 

One of the key triggers for updating a will is a change in personal status — such as marriage, divorce, or widowhood. The type of marriage contract also matters. For example, marriage in community of property means your joint estate will be divided upon the death of one spouse. “Many couples choose to have what’s called a ‘Massed Will’ — identical wills that provide for each other if one dies first, and also cover the scenario where both die simultaneously,” says Rouchos. “But whether you choose a joint or individual will, it’s critical to plan for how debts and liabilities will be handled, so that heirs aren’t left with a financial burden.”

 

Wills should also be reviewed whenever a new beneficiary is added — such as the birth of a child — or when an existing beneficiary passes away. “It’s important to update your will at the birth of each child,” advises Rouchos. “It’s not automatically assumed that future children will be included as heirs unless your will specifically says so.”

In addition, she recommends making clear provisions for minor children’s inheritance. Options include the State’s Guardian’s Fund or establishing a Testamentary Trust to protect assets until children are financially mature.

 

South Africa’s family and testamentary law continues to evolve just as personal circumstances do. Failing to revisit your will can lead to unintended consequences for your family’s financial security. “And once signed, don’t toss it into a drawer and never look at it again,” cautions Rouchos. “Much like a routine doctor’s visit, a regular review of your will can prevent unnecessary anguish for your loved ones. Experts generally recommend revisiting your will every three to five years, or sooner if major life events occur, to determine whether minor amendments, a codicil, or a completely new will is required.”