AGS
Level 4, 183 Wickham Terrace Brisbane QLD 4001
(1800) 217 217 Free case consultation
Level 4, 183 Wickham Terrace Brisbane QLD 4001
(1800) 217 217 Free case consultation

The Importance of Updating Your Will and Next-of-kin

The Importance of Updating Your Will and Next-of-kin

The Importance of Updating Your Will and Next-of-kin

An undervalued, but most critical items, to at least consider, is updating your will, next-of-kin and any power of attorney documents you may have in place

the importance of updating your will and next of kinsIn fact, if someone has been divorced for many years and they’ve not updated their will documents and something happens to them, their assets could potentially go automatically to their ex-spouse.

It’s also important to update your next-of-kin will details on all key documents. In a lot of cases, partners will list each other as their next-of-kin, and while some splits can be amicable and parties may continue to trust their ex-partners to make decisions that are in their best interests, it may be prudent to list someone else.

We recommend that parties contact any hospital they’ve been to, their doctors and any other critical service providers to update their next-of-kin details. Also, if an aged-care facility is involved, you’ll need to update your next of kin, because unless you specifically update the details, it will go to the last person listed.

Many people may nominate their children in these situations or perhaps a close friend or another trusted person.

However, this isn’t the case for everyone, so the decision is a particularly personal one that should be weighed up on all sides.

Some people may say, ‘Do you know what? My ex-partner is a trusted person and I know they have my best wishes at heart and will do the right thing for me if I was unable to make the decision for myself’.

Superannuation Reviews

It’s also important to review your superannuation funds and decide whether to complete a new binding nomination form for each of your funds. This legal document allows you to nominate a new beneficiary for your superannuation benefits.

Also, be particularly aware that if you’re due to receive funds from a superannuation balance as part of your settlement (under a Family Court order or financial agreement), the money will be transferred to your existing super account or into a new super account, rather than as a cash payment to you. The means it won’t provide an immediate improvement to your day-to-day financial circumstance.

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AGS
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El Ka
El Ka

in the last week

Mark Kenney was great to work with during a recent property purchase. There were some complications to iron out along the way and he addressed them really proficiently and communicated well throughout. They are in a gorgeous historic building near the CBD with easy free parking out the back. (I'm not sure if there is wheelchair/lift access to their office, please check on that first if that is important to you.)

Jackson Elliott
Jackson Elliott

7 months ago

IAN FIELD is awesome at staying on top of things. All are very professional, kind, knowledgeable, and I've had nothing but pleasant experiences with this firm. I have recommended them to others and will continue to recommend their services. thanks

Mana S
Mana S

4 months ago

Worked with Mr Ian Field and Mrs Elise Foote as our mediators. Very disappointed with the service. The process lasted way more than expected and obviously we were charged much more than estimated. The delay caused much more stress rather than helping us to resolve the problem and they didn’t seem to feel responsible enough to care about it. They had many mistakes that we had to correct them which shows they didn’t spend enough time on it and even part of the job remained kind of unresolved and they kind of left me alone without caring about it. I would not recommend them at lest in family matter.

Anita Loader
Anita Loader

6 months ago

I wanted to pass on my thanks to all at Aylward Game, especially Mark Kenny, Shonae Morrison and Allyce Ardern, for all the assistance they have given over the past 6 weeks. As a very novice property purchaser, the professionalism, advice, hand holding, responsiveness and above all patience were so very much appreciated and made what could have been a very stressful time, a very easy process (well, for me at least, maybe not for them!) Who knows, if this venture goes well, it may not be the last they hear of me.... Apologies in advance! 😳

Lawrence Carneal
Lawrence Carneal

10 months ago

Not many firms can compete with the skill and performance that Aylward Game have - I am a very happy camper... fast turn around and diligent research on my property matter thanks to Mark Game.

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