Wills week: How often should my Will be reviewed?

Today we will look at how often a wills should be reviewed.

Certain events can make it important for you to review your Will. Marriage automatically revokes a Will. If you have recently married, you will want to create a new Will, perhaps jointly with your spouse. We are able to prepare mirror Wills that complement each other if this is the case. Divorce, on the other hand, does not automatically revoke a Will. You will likely want to review your Will to make sure that your ex-spouse no longer benefits.

If a beneficiary dies before you do and you do not have the appropriate contingencies in place, you will want to review your Will. Similarly, if an executor dies or tells you that they cannot act or they plan to move away, perhaps it is time to think of who else you can appoint. At Anthony Gold, we aim to cover various possibilities like this in the drafting of your Will as this minimises the need for you to change your Will should these things happen.

If your estate becomes significantly greater or smaller or if you dispose of an asset left to a particular beneficiary in your lifetime, this will affect the inheritance tax position on your death and you may wish to seek some advice from one of our experienced solicitors. You can take comfort in the fact that our team of experts will advise you on the potential consequences of your wishes so that you always have peace of mind that you are making the right choices.