When should I update my Will?

Many of our clients ask us “when should I update my Will?” In this post, we provide our top guidelines for when you should have your Will reviewed.

Your Will is a written record of your intentions and how you would like to distribute your legacy. Often, these wishes remain consistent throughout an individual’s life.

However, your Will is a living document. When your situation changes, so too must your Will. It would be a mistake to just put your Will away and forget about it for years – the details within need to accurately reflect your situation and wishes.

The following are some of the reasons why you may need to change your will:

Newly Married –

When you enter into a marriage, you will need to include your spouse in your Will. If you have already included your spouse in your existing Will with a Contemplation of Marriage clause, there is no need to change anything. Otherwise, you should have your Will reviewed.

Significant Change in your Estate –

If your Estate undergoes any significant changes you will need to have your Will amended to reflect this. This wouldn’t apply in the case of a gradual increase in estate value over time, but would if your estate experienced a sudden change like winning the lottery.

Divorce –

A divorce does not automatically revoke your existing Will. Instead, your ex-spouse is considered “legally dead” when it comes to your Will. This means they won’t receive any of your estate regardless of what is stipulated in the Will, nor can they act as your Executor. As you can imagine, this can lead to some very complex issues at probate. We would always recommend having your Will professionally reviewed after a divorce has been finalised.

Spousal Death –

Similarly, if your spouse were to pass before you, you should have your Will professionally reviewed. If you write your Will with us, we will have put measures in place already.

After the Death of a Beneficiary or Dependent –

You should update your Will if a beneficiary or dependent passes before you do.

Changes in your Wishes –

Sometimes, your wishes may change as things in your life develop. You might develop a passion for a charitable cause, or have a change of heart in your relationship with a beneficiary or executor. In these circumstances, you must update your Will.

Changes in the Circumstances of your Executor, Guardians, or Trustees –

Who you name in your Will for these crucial roles is a defining element of a functional Will. When your Executor or Guardian is no longer suitable, you must update your Will with individuals who are.

If you are unsure about any of these factors, or simply have questions about having your Will professionally reviewed, we are on hand for a free, no-obligation chat where you can ask anything on your mind. If your Will was originally written through us, we offer a simple & affordable amendment service to avoid you having to go through the process of writing a new Will from scratch.

Feel free to give us a call on 0117 214 0228 or send an email to info@bristolwillwriting.co.uk. Alternatively, leave your contact information with us here and we will be in touch.