The importance of regularly reviewing a will

The importance of correctly drawing up and signing a valid will according to your present Needs cannot be overemphasised.   Many married couples and partners, for example, can get by with one joint or single will in which the surviving spouse is nominated as the only heir, and the children as the heirs in the event of simultaneous death. In the event of the death of a spouse in a joint will, the surviving spouse must have a new will drawn up and signed as soon as possible, because the joint will is that of the first-dying only, as well as of both spouses if they die simultaneously or soon after each other within the period provided in the will. Unless provision is made, the joint will therefore does not cover the death of the surviving spouse.  The regular and sometimes speedy reviewing of a will is very important and in some cases extremely urgent.  Changes in, for example, your marital status, the addition and/or omission of heirs and the changing of guardians, executor and trustee, are a few examples of cases that could be extremely urgent.   Changes in assets that have been specifically bequeathed, such as a particular property, as well as new additions to your assets, necessitate a revision of your will. New legislation, amendments to legislation and new estate planning techniques are other reasons why it is very important for people to whom these might apply, to review their will and their estate planning.  There are several techniques and methods that can be applied in wills in order to save on and/or prevent estate duty.  To make the will as effective as possible, it is essential that it be reviewed regularly...