Many people take the time to write their Wills, but then they forget about them. With our lives constantly changing it is inevitable our wishes will too. But, what happens if these changes have not been reflected in your Will? Maybe you have you had a new child or grandchild and they are not named in your Will? Have you made a gift to someone you are no longer in contact with? These are the events that can cause conflict within families and can cause undue stress and worry for your family and loved ones. You might have started wondering when and why you’d need to change your Will.
That is why we advise you to review your Will every three to five years and ensure your Will reflects your wishes as they are today.
Events that should prompt you to seek our help and support include:
- Marriage – In England and Wales, if you get married your Will will be revoked, unless it was made in contemplation of the marriage.
- Divorce – If you divorce, your ex-spouse will be treated as having predeceased you. The divorce will not invalidate the Will but it will prevent your ex-spouse from receiving anything. However, this will not be the case if you have named an in-law as a beneficiary. Their divorce will not prevent them from receiving their gift.
- New children or grandchildren – To ensure they are included and if this is your first child to ensure you are appointing a guardian.
- Death of a beneficiary – If a beneficiary dies you need to understand what happens to the gift, because if no provision has been made for it to fall to their family then the gift will fail.
- Death of an executor or they are no longer suitable – It is important that there is someone to administer your estate as issues can arise if you are left without one when you die. If you wish to change Executor or appoint a new one this must be reflected.