Why it’s Essential to Regularly Update Your Will

Whether we like it or not, something that we all need to do at some point is write a will. Despite the importance of this document, over 30 million adults in the UK currently don’t have an up-to-date will. Whilst it’s not nice for any of us to think about, it’s impossible to understate the importance of periodically considering and reviewing your will. Taking the time to ensure that your wishes are accurately described will help reduce the stress on your loved ones and family members further down the line. 

If you have any questions about updating your will, continue reading this blog post from the professional will writers here at Thames Valley Will Services.

When Should You Update Your Will?

Depending on your particular circumstances and age, we recommend that you use a will writing service to update your will every two to five years, which will ensure that any changes you have experienced in your life are reflected accordingly. Possible life events that could affect the contents of your will include the following:

• Getting engaged, married or divorced, or registering with a civil partner.
• Having or adopting a child or a grandchild.
• Changes to your living situation or address.
• A significant shift in your finances (which could affect inheritance tax).
• Someone named in your will (such as your power of attorney or will’s executor) passes away.

If any of the above events occur, you should contact will writers such as the experts here at Thames Valley Will Services to update your information. If you don’t, you could be leaving your loved ones in a negative situation. Even if none of the above events occurs, it’s still worth regularly reviewing your will for total peace of mind. So the next question is – what’s the best way to make changes to your will?

How Do I Make Changes to My Will?

There are multiple ways to change your will, the choice of which depends on the scale of changes you want to make. Any minor amendments can be made by yourself by using an official alteration document called a codicil before being signed and witnessed through the same process as your original will. It’s vital that you ensure that the witnesses to your codicil aren’t beneficiaries of the new document, as this would invalidate the codicil.

If you need to make more extensive changes to your will, it’s best to use a will writing service to create an entirely new document, as it will be easier to have reviewed and approved.

How Many Times Can I Amend My Will?

There is technically no limit to the number of codicils you can use to amend your will. Still, these documents could easily get separated from the original will, so contacting professional will writers to create an entirely new document after a few sets of amends may be the best option for you. If you’re at all unsure about this decision, legal advice is readily available from Thames Valley Will Services.

When Is It Necessary to Write a New Will?

You can’t discount the importance of a new will, particularly if you experience a significant life change or if there are a lot of minor adjustments that need to be made. As mentioned above, it is essential to write a new will if you get married, as, in England and Wales, the process of marriage invalidates any existing wills and codicils. Different rules apply in Scotland and Northern Ireland.

When you need to write an entirely new will, it’s crucial that you work with a will writing service to make it evident that it’s the version of the document you want to be used when you pass away or potentially lose the mental capacity to look after yourself. The best way to do this is by destroying any old wills and codicils and explicitly stating that it is the correct version at the start of your new will.

What If I Forget to Review or Update My Will?

Not updating your will to match your life circumstances can result in your loved ones not being adequately provided for after you pass away or become incapacitated, which is why it’s so vital to review your will regularly. Even if you don’t experience any significant life changes, periodically checking your will can help stop any debate about the legitimacy of your will, helping to ensure that your legally binding wishes are met.

Contact Will Writers Near You

Hopefully, the guide above has helped explain why it’s so crucial to update your will regularly. If you’re concerned that your current will may not accurately describe your wishes, Thames Valley Will Services can help. Our professional will writing services can ensure you have a regularly updated will that can help to put your mind at ease. We can also assist with any queries you have regarding estate planning, power of attorney and probate. 

Give us a phone call today if you live in the Thames Valley area, and one of our friendly experts will be more than happy to help you and offer any free-of-charge advice.