I made a Will many years ago – is there any need to make changes to it?
It is vitally important that your Will is regularly updated. Substantial changes in your life or circumstances can mean that your desired beneficiaries will have changed –for example, if you have got married or divorced in the time since your Will was drafted, or if your family has grown to include children or grandchildren whom you would wish to benefit from your estate.
Changes in your financial circumstances are another reason for updating your Will. If your personal wealth has grown, or if your house has increased in value in recent years, you may now be liable for Inheritance Tax when this was not previously the case. Changes can be made to your Will to account for this and to ensure your assets are best protected.
We advise clients to revisit their Will every five or six years and can provide guidance on what changes may be appropriate.
