You have a will. For that we applaud you, because you understand the importance of having put the Will in place: far too many simply don’t bother.
You spent time thinking about it, considered every aspect, took your time and made an effort. You were pleased with yourself and felt a sense of relief.
Then, you filed the Will away secure in the knowledge that you had done the right thing…job done; time to sit back and relax…but that may have been 3 years or more ago.
A lot may have happened. Maybe you got married, had a child, experienced the loss of a loved one, got divorced, moved jobs, up-sized, down-sized, started your own business or bought a holiday home abroad. Also, the world keeps turning – laws change, tax rules change, governments change.
How will you know whether your Will still works for you?
When it comes to updating a Will, think about what may have changed:
- A marriage or civil partnership automatically revokes an existing will (although conversion to marriage from a civil partnership does not)
- Death of a beneficiary, executor or guardian
- Changed relationships
- Gifts of specific items – if you no longer have the particular item or want it to go to someone different
- Foreign property
- Business interests – if you have started a new business or your business interests have changed
- Insurance policies – if you have acquired a financial product with a life policy element
- Trusts – if you have acquired an interest under a trust
- Wealth – if you have acquired greater wealth, tax planning would be sensible.
- Long Term care is expensive but you can mitigate its impact.
You don’t need to have had your Will made by Wilson Browne Solicitors
If you’re thinking of updating a Will or are concerned about whether you should, there’s nothing to lose.
If your Will is fit (for purpose) and healthy we’ll tell you. If we think you should be bringing your Will up to date to reflect your changed circumstances we will advise you about the things you should be considering. Either way, it’s free and without obligation.
We cover all areas of Private Client and Commercial law having offices in Northamptonshire and Leicestershire, operating from Northampton, Kettering, Corby, Higham Ferrers, Wellingborough and Leicester and can meet at a location that’s convenient to you so call us today for your free, without obligation Will healthcheck.