Making a Will is an important step to exercising control over your assets when you die. However, as time passes circumstances for you, your family or your beneficiaries may change. Importantly, some of these life events may, in fact, invalidate your Will whereas others may have unforeseeable impacts on the consequences of it.
Here are 10 reasons for reviewing and if necessary updating your Will:-
- Marriage for you or your beneficiaries
- Purchase of Family home
- Babies. The arrival of children, whether your own, your grandchildren or children of your beneficiaries.
- Divorce for you or your beneficiaries
- Death of a spouse, partner, successor trustee, executor or beneficiary.
- Heirs with financial difficulties
- Starting a Business
- Being the beneficiary of another’s Estate – with associated Tax Planning implications.
- Making a legacy to a charity or other institution.
Generally you should review your Will every 3 – 5 years and if necessary consider having it rewritten so it reflects your current wishes.
Contact our specialist Will writing solicitors if you wish to discuss changes to your Will.