When Should I Update My Will?

When Might I Need to Update my Will?

It’s recommended to review your Will every 3-5 years or at major life events but it’s easy for life to get in the way and this get forgotten.  However, an old Will can cause difficulties for your loved ones if you pass away unexpectedly.

So apart from every 3-5 years when should you review or update your Will?

Marriage or Civil Partnership

Any Will that you have previously written becomes invalid after marriage or entering a civil partnership making it essential that a new one is written.  Your new spouse or civil partner will automatically inherit all or part of your estate when you pass away (depending on whether or not you have children).

More can be seen here in another blog.

Divorce or Separation

Similarly if you divorce or separate you will need to write a new Will to ensure that this is made clear.  While your old Will would remain valid, your former spouse or civil partner would no longer inherit anything from your estate.

More can be seen here in another blog.

Buying a House or Moving House

A house is usually a person’s most expensive purchase, and it is crucial that you update your Will to reflect the value of the property as well as understanding what would happen to it when you pass away.  This is also important if you buy an investment property or a property abroad.

More can be seen here in another blog.

Starting a Family

In your Will you can name Guardians for your children to ensure they are properly cared for should the worse happen to you, you know your children will be well looked after.  A new Will can ensure this and make sure they inherit part or all of your estate.

More can be seen here in another blog.

You Want to Change who Inherits your Estate

It sounds obvious, but many people decide on changes as to who will inherit their Estate but never get round to changing their Will.  Unfortunately, if your Will isn’t changed it’s not legally possible to enforce your wishes. 

This list is by no means exhaustive but highlights the top 5 reasons. If you have any questions about whether or not you should make anew Will, get in touch today  – we’d be happy to help.

T: 0114 399 5236

E: info@morganwillsandtrusts.co.uk

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