As the festive season comes to an end, people start their new year with resolutions and promises to keep for the following year! At Ringrose Law our team strongly advise if there is one resolution you should make it is to make your Will or update it!
Co-op Legal Services recently revealed that nearly 40 million Brits are without a will
It is estimated that over a quarter of Wills in the UK are out of date. If you have already made a Will, but have not reviewed it recently, then there may be changes that you need to make for 2025.
You should always review your Will in the following circumstances:
You have married or entered into a civil partnership
Your will is automatically revoked if you get married or enter into a civil partnership unless your will specifically states it is to be in contemplation of the marriage, even if your wishes remain the same.
You have divorced or your civil partnership has been dissolved
Any gift in your will to your former spouse will automatically become invalid from the date of your divorce/dissolution of civil partnership. If you had appointed a former spouse as executor then this will also become invalid
You have separated from your spouse or partner
Separation has no effect on a will, and so if you no longer wish your spouse or partner to inherit then you need to update your Will
An executor or beneficiary has died
If an executor has died and you have not made provision for another executor to act, then it is advisable to review your Will
You have new additions to the family who you would like to benefit
You may want to make provision for a new child or grandchild within your Will. You can also appoint a guardian to nominate who you would like to raise your child or children in the event of you and your partner’s death
Your assets have changed significantly
If your assets have changed then you may benefit from further advice in relation to your Will. You may even need to discuss inheritance tax or other considerations which may not have applied when you made your previous Will. We can advise you of any relevant changes which may affect you
You have simply changed your mind
It goes without saying that if you have changed your mind, and your Will no longer reflects your wishes then you will need to change this to ensure that your wishes are carried out. You should never make handwritten amendments to your will, as this may invalidate it further, and should always seek advice in relation to a new Will
If you have any concerns about your Will, if you wish to re-write it or seek further advice contact our Wills & Probate team at your nearest Ringrose Law office a free Will review appointment.