Why Now Might Be the Perfect Time to Update Your Will

Ensuring your wishes are up to date and your loved ones are protected

When was the last time you reviewed your Will? If you can’t remember, it’s probably a sign that now is the right moment to revisit it. Having an updated Will is a crucial part of managing your finances and protecting your loved ones. Until you document your wishes properly, there’s always a risk of complications after you’re gone. Life changes continuously, and an outdated Will might not reflect your current circumstances, relationships, or goals.

A Will isn’t just a document; it’s a key tool to ensure your assets are passed down according to your wishes. Under the rules of intestacy, which apply if you don’t have a valid Will, your estate will be divided according to a set formula, which may completely overlook your personal preferences. Taking time now to update your Will could prevent unnecessary confusion and distress for those you care about most.

Changes that may signal the need for an update

Significant life events often call for a review of your Will. For instance, if you’ve recently married, UK law states that your previous Will is automatically revoked, unless it explicitly mentions that it was drafted in contemplation of your upcoming marriage. If you don’t update or create a new Will, your spouse might inherit under intestacy rules, which could unintentionally exclude others you’d like to provide for.

Similarly, divorce doesn’t automatically invalidate your Will, though any gifts to your

former spouse are annulled. However, without updates, this can leave gaps in your estate plan and create ambiguity. If you’ve remarried, had more children, or become part of a blended family, you should equally revisit your Will to ensure it includes provisions for everyone you wish to protect.

Other major events, such as the birth of a new child or grandchild, are also critical triggers to update your Will. These updates allow you to name guardians for young children and allocate inheritance appropriately. Purchasing property, especially overseas, or establishing a business are additional milestones that can complicate your estate if not addressed. For instance, if you acquired a second home in Spain or Italy, local inheritance laws might apply without proper planning.

On a more practical level, even changes such as a shift in the value of your estate or tax laws could mean it’s time for an update. Adjusting your Will to combat inheritance tax liabilities is particularly vital if your estate has grown in value.

Different options for ensuring your will is current

Fortunately, updating or creating a Will to ensure it’s aligned with your current life and financial position has never been easier. If you already have a Will in place and need to make only minor adjustments, a codicil might be a suitable option. A codicil is a legally binding addendum to your existing Will. It can be used to update details like adding a newly included heir, removing outdated references, or adjusting a specific bequest. It’s important to remember that codicils must be signed and witnessed correctly to remain valid.

However, for larger updates or more complex changes, drafting an entirely new Will is often more practical and ensures there is no confusion over which version applies. A new comprehensive Will can address major updates like adjusting who inherits significant assets, rewriting how property is shared, or including safeguards for vulnerable family members.

We offer professional Will writing service, especially for substantial changes. Many people mistakenly rely solely on DIY Will kits or online templates, which can lead to inconsistencies or fail to meet legal formalities. We will ensure that all revisions are accurately made and that your Will remains legally binding.

Don’t forget to review regularly

It’s worth noting that updating your Will shouldn’t be considered a once-in-a-lifetime event. Circumstances, relationships, and financial situations all evolve over time, making it essential to review your Will regularly. We recommend reviewing it every five years, or sooner if you experience a major life event like a birth, marriage, or financial windfall.

Remember that overlooking smaller changes could still have significant consequences. For example, failing to update a nominated executor in your Will could result in someone unsuitable managing your estate. Similarly, if a named beneficiary has since passed away, this could leave parts of your estate without clear instructions, unnecessarily complicating the probate process.

A regularly updated Will ensures clarity and can avoid the stress of legal challenges or family disputes during an already difficult period.

Are you ready to take the next step today?

Having an updated Will is one of the most powerful steps you can take to protect your loved ones and ensure your intentions are respected. Don’t put off something so crucial. Whether you need to make small changes or draft a completely new Will, starting the process today could give you and your family peace of mind.

Take the first step by speaking with us. We’ll help simplify the process and ensure every detail is addressed. Make this your opportunity to take control of your future. A simple action now can prevent confusion, save costs, and reduce heartache later. Contact an experienced team to discuss your requirements or find out more about creating or updating your Will. Your loved ones are worth it.