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7 reasons why it’s wise to update your will

Your Life
Thursday 08 November 2018
It’s recommended that you review your Will every two years. That’s because it’s important to make sure it and the wishes within are up to date, especially if you or your beneficiaries’ circumstances have changed.

These are some of the events that might prompt you to have a fresh look at your plans for your estate.

1. Getting married. Any existing Will you have is automatically cancelled when you marry in England or Wales.

2. Getting divorced. Unlike marriage, a pre-existing Will isn’t automatically cancelled when you divorce. Again, you may want to have a look at yours.

3. Grandchildren. If your children have new arrivals, you might want to make specific provision for them.

4. Buying a house. Whether moving on up or downsizing, it’s good to mention any new property in your Will.

5. Losing a loved one. You may want to make an update, especially if they’re a named beneficiary or an executor.

6. Coming into some money. If you’ve inherited money or property, or even had a lottery win, make sure you say who you want to leave it to.

7. Changes in law. The laws and taxes affecting Wills and Trusts are often amended. A regular professional review will make sure any new developments don’t catch you out.

It’s better to imagine your Will as a living document, which can adapt with you as you go through life. When circumstances change, it’s time to consider how your Will might need to be altered.

Expert advice
Reviewing your Will doesn’t have to be complicated. Our qualified estate planners can give you specialist help with no pressure to proceed. We also offer unlimited after sales care, so if you need any further help, we’re always only a phone call away.  

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Page last updated: Monday 12 November 2018