When it comes to Estate planning, creating a Will is a crucial step in ensuring your assets are distributed according to your wishes after you’re gone. However, what many people may not realise is the significance of including a specific revocation clause in their Will.
Life is unpredictable and your circumstances may change over time. Your wishes may evolve and you might need to make amendments to your existing Will to reflect those life changes. A revocation clause allows you to revoke or cancel your existing Will and create a new one when necessary. This flexibility ensures that your Will remains up to date and aligned with your current intentions.
Without a revocation clause, multiple Wills may exist, leading to confusion and disputes among your beneficiaries. Including a revocation clause clearly states that any previous Wills are null and void, ensuring there is no ambiguity about your final wishes.
Should you fail to include a revocation clause, your previous Wills may still be considered valid, even if you’ve made significant changes in a newer one. This can lead to unintended consequences, such as assets being distributed in a way you no longer desire.
A meticulously drafted Will that includes a revocation clause reduces the likelihood of legal disputes. It provides clarity and transparency, making it difficult for anyone to challenge the validity of your Will.
A revocation clause is a vital component of your Will, offering flexibility, clarity and protection for your legacy. It allows you to adapt to changing circumstances, avoid any confusion, prevent unintended consequences, and minimise the potential for legal disputes.
At Adams & Partners, we are always looking out for our client’s best interests and therefore we ensure a revocation clause is a part of every Will we draft. If you have any questions or need a Will drafted for yourself, please contact us for a friendly chat.
Written by Cameron Spanner