The importance of updating your existing will

If you have a will, but have nor reviewed it for some time, it is a good idea to do so. There may be some important updates that require your will to be amended. Personal circumstances often change and your will needs to reflect this. Having an up to date will is just as important as writing a will in the first place.

 

Wills often need to be renewed when the following life changes occur:

  • Change in marital status - if you get divorced or remarried
  • You start a family
  • You adopt children
  • You move to a new home
  • If you have an executer, guardian, beneficiary or trustee who either dies or relinquishes their role
  • A significant increase or decrease to the value of your home property
  • When your children reach 18 years of age and can now manage their own financial affairs
  • You would like to include more people in your will
  • You want to remove people from your will
  • You want to leave money to a charity
 

If any of these changes do happen them we do advise that you update your will as soon as possible. This is to ensue that your family and loved ones are all covered by the new changes. It is also highly recommended that you review your will at least every five years, to ensure that it is up to date. If changes do need to be made then we can help you. You will not be able to amend the existing will yourself, once it has been witnessed and signed. Instead you will need to make what is called a 'council', which is an official alteration to the will. This is often done when minor changes need to be made. In essence the council is a legal document that will allow you to make any changes that are necessary.

Our team of local will writing professionals can come to your home, at a time that is convenient to you, and complete all of the necessary paperwork. We will make the entire process as easy as possible for you. You will need to sign the codicil and have it witnessed by two witnesses as well as yourself, just as you did for the original will. But we will guide you through the whole process. If you need to make a considerable amount of changes to your will, then sometimes we do recommend that it is often easier to write a new will. Once again, we can help you through this process. To find out more information about updating an existing will, please do give us a call today.