From marriage and divorce to growing families and changing assets, a lot can happen after a will is signed. Katie Brown, a trainee solicitor at Bendles Solicitors, explains how regular reviews can help ensure your will continues to reflect your wishes
Many people make a will and assume the job is done. However, major life events and changes in circumstances can lead to it no longer being fit for purpose.
For example, getting married will usually revoke an existing will. If you don’t make a new will afterwards, your estate may be distributed according to the rules of intestacy rather than your own wishes. However, it is possible to include a provision in a will that allows it to remain valid after a marriage takes place.
Divorce can also have a considerable impact. While it does not revoke a will entirely, a former spouse is generally treated as though they have died for the purposes of the will. As a result, gifts left to them may no longer take effect. Reviewing a will after divorce helps ensure it accurately reflects current wishes and circumstances.
It’s also important to think about the people appointed to administer an estate. If an executor dies before the person who made the will, it can create complications. Naming more than one executor or appointing a substitute can help avoid difficulties later.
Changes in assets can make a will outdated too. For example, if someone leaves a house to their child but then later sells the property. Regularly reviewing your will can make sure it matches your current assets.
Family circumstances can also have an impact. If a will names only specific grandchildren who were born when it was written, any subsequent grandchildren may not be included. Blended families are another important reason to keep a will under review. Step-children and step-grandchildren do not automatically inherit simply because they are part of the family, so if you want to make provision for them, this should be clearly set out. Depending on the situation, it may be appropriate to use wording that includes future generations while still ensuring specific gifts are clearly identified.
Relationships, family dynamics, assets and finances can all evolve over time. Reviewing your will every few years or after major life events can provide peace of mind that it’s up to date.
If it’s been a few years since your will was last reviewed or you’ve recently gone through major changes in your life, now may be a good time to revisit it. Bendles can guide you through the process and help ensure your wishes are clearly set out for the future.
For more information contact Katie Brown at Bendles Solicitors on 01228 522215 or email kb@bendlessolicitors.co.uk.
