diff --git a/include/rcp.h b/include/rcp.h
index 3fe3a0d..96af0d7 100644
--- a/include/rcp.h
+++ b/include/rcp.h
@@ -54,10 +54,18 @@ public:
 
     rcp<T> & operator=(const rcp & other)
     {
-        ptr = other.ptr;
-        if (ptr)
+        if (ptr != other.ptr)
         {
-            ptr->rcp_inc();
+            T * old_ptr = ptr;
+            ptr = other.ptr;
+            if (ptr)
+            {
+                ptr->rcp_inc();
+            }
+            if (old_ptr)
+            {
+                old_ptr->rcp_dec();
+            }
         }
         return *this;
     }
diff --git a/test/tests.cpp b/test/tests.cpp
index 556db5f..c24e664 100644
--- a/test/tests.cpp
+++ b/test/tests.cpp
@@ -28,6 +28,7 @@ public:
     int x;
     int y;
 };
+typedef rcp<MyBase> MyB;
 
 class MyDerived : public MyBase
 {
@@ -85,7 +86,6 @@ void test_booleans()
 
 void test_create()
 {
-    typedef rcp<MyBase> MyB;
     MyB myb = MyB::create(8, 9);
     assert(myb->x == 8);
 }
@@ -124,6 +124,14 @@ void test_multi_construct_from_raw_pointers()
     }
 }
 
+void test_copy_assignment_decrements_previous_reference()
+{
+    MyB myb = MyB::create(12, 13);
+    MyB myb2 = MyB::create(14, 15);
+    myb = myb2;
+    assert(myb->x == 14);
+}
+
 int main(int argc, char * argv[])
 {
     test_class_hierarchy();
@@ -131,5 +139,6 @@ int main(int argc, char * argv[])
     test_booleans();
     test_create();
     test_multi_construct_from_raw_pointers();
+    test_copy_assignment_decrements_previous_reference();
     return 0;
 }