Have you reviewed your Will in the last 5 years?
The start of a New Year is often the prompt for getting our plans in order. Yet many of us put off one piece of planning that can make a real difference for the people we love: reviewing our Will. A short review every few years can provide reassurance that everything is still in good order.
Why a Will review matters
A review of your Will can help ensure it still reflects your wishes. Life changes, and small details can have big legal consequences. A Will that felt right five or ten years ago may no longer suit your family circumstances, finances, or the people you would trust to carry out your wishes.
A review is also an opportunity to check the practicalities. Wills must be correctly signed and witnessed to be valid, and the wording should be clear. Putting things in place now can reduce uncertainty and avoidable stress for loved ones later.
Have your circumstances changed?
If you have married any pre-existing Will may no longer be valid. If you have divorced, your ex-spouse will be treated as though they have died before you. It is very important that you therefore review your Will if either of these occasions have taken place.
It is sensible to review your Will if any of the following apply.
- You have formed a new relationship.
- You have moved home, downsized, inherited money, or your savings have changed.
- Children or grandchildren have arrived, or you want to provide for step-children.
- You are supporting someone vulnerable, or want to keep things fair between families.
- The executors or guardians you chose have moved away, become unwell, or are no longer appropriate.
- You would like to leave a gift to a charity that matters to you.
How we can help
Many people worry about cost. If you have been put off by rising prices, a quick chat can help you understand what a Will review would cost and what’s involved. Often, the process is more straightforward than expected. Knowing the likely fees upfront helps you make decisions with confidence.
At Ellisons, our Private Client team aims to provide you with straightforward practical advice and advise in plain English. We combine specialist expertise with local continuity of service, so you know who you are dealing with and you feel properly looked after. Home and care home visits are available by appointment.
To arrange an initial chat, contact Ian Johnston, Partner in the Private Client team at Ellisons via ian.johnston@ellisons.com
This article is for general information only and does not constitute legal advice. Fees may apply for full advice, drafting or updating documents.
