If you’ve made a will, you are already one step ahead of many, many other people. Making Wills is often low down on people’s list of things to do. However, it is also important to keep your Will properly updated.
Why Do I Need To Update My Will?
You might think that once you’ve sat down with your will solicitor and had the document drawn up – you won’t have to think about it anymore. This isn’t strictly true, as there are a few situations in which you might need to change your will.
For example, you may need to update your will if:
Your circumstances change.
- If your marital status changes, you have a baby, your financial situation changes or you buy a new property – your will should reflect these changes.
Beneficiaries’ circumstances change.
- As well as changes in your own situation, you may also want to update your will if things change for someone you’ve named as a beneficiary. For example, if a beneficiary dies, gets married or a new family member is born.
Your wishes change.
- Our future wishes with regards to our property aren’t set in stone, and you can change your mind if you want to. If you have a change of heart, you can alter your will. If you aren’t sure whether your will needs updating, you should seek professional help and advice. An appointment with a will and probate solicitors should make things clearer.
As a rough guide, many people update their wills every three to five years. If a major life event happens, you should update your will sooner.