Once you’ve made a Will it’s tempting to think that’s the end of the story. However, it makes sense to keep the document under review. As time passes, our circumstances, priorities and relationships change. When they do, you should ask yourself if the Will you’ve executed is still fit for purpose. The government recommends updating Wills every five years and when you encounter any major life changes (such as divorce). Here we discuss when changing your Will is advisable and explain how to go about it.
At Gamlins LLP we have offices across North Wales, so we are able to find you a local solicitor that can provide sensitive and personalised advice on all aspects of Wills and probate, including guidance on how to change your Will. Call us on 01492 860420 or contact the team online.
When should I review my Will?
Even though we’re all encouraged to make a Will half the UK population haven’t done so. A Will ensures our last wishes are clear and that our property is left to the people we want to benefit from it. An up-to-date Will may also help reduce the amount of inheritance tax your family will have to pay when you die and can minimise the potential for any costly challenges to the Will by people who feel they have been unfairly excluded from inheriting. Government guidance suggests that we update our Wills every five years or when there is a major change in our lives. Events that should prompt a review of your Will include:
- Marriage – unless your Will is made ‘in contemplation of marriage’ it is automatically revoked when you marry. If you don’t make a new Will, your estate will be divided according to the laws of intestacy. This may have unintended consequences. Additionally, if this is a second marriage and there are children from a previous marriage, it is important to consider whether you should include a trust or other provisions in your Will so that your children’s inheritance is protected in the event of your death
- Getting divorced – although your Will remains valid any assets you have left to your former spouse will not pass to them and if that spouse had been appointed as executor that appointment will fail
- Cohabitation – cohabitees have no automatic rights of inheritance so if you wish to inherit each other’s property you should update your Will to reflect this. While a cohabitee could potentially mount a challenge to any Will, this is an uncertain, costly and time consuming process
- Having a child – it may not always be necessary to write a new Will if you have a child. However, it is advisable to check your current Will to ensure that it reflects your wishes. Note that if you have stepchildren, you should specify whether you wish them to inherit. Unless you formally adopt them, the law won’t recognise them as your children under the Will or intestacy rules
- Moving house – a new Will may not be necessary but if for example you have purchased the property with a new partner, or it is a substantially more valuable property, you may wish to consider how these factors might impact the distribution of your estate as reflected in your current Will
- If the executor named in the Will dies – if you appointed substitute executors or more than one, this may not be an issue. However if you only appointed one executor and they die before you, then you should appoint new executors to minimise disruption to the administration of your estate
- Changing who inherits – if you decide to change the way your estate is to be divided, for example by removing a beneficiary, you should seek legal advice on how best to deal with this in a new Will. A clear explanation of your reasoning should be recorded in writing to reduce the possibility of a Will challenge in the future
How do I change my Will?
Minor changes to your Will can be done by way of a codicil. This is a standalone document that will be entered into probate with your original Will. It must be signed and witnessed in the same way as the original Will and kept with the Will itself (although it should not be attached to that document in any way.) Codicils can be used to change executors or guardians for example, or to add a new monetary gift. The crucial thing is that they must be capable of being read alongside the Will without creating any kind of inconsistency or misunderstanding. There is no limit to the number of codicils you can make; however we would urge caution if you were considering multiple codicils. The potential for confusion that could invalidate the Will itself rises the more additional documentation you introduce. Often it is sensible – if multiple (albeit minor) changes are needed – to create a fresh Will.
Contact Us
Gamlins Solicitors LLP has a network of offices across North Wales, and we can arrange an in-person appointment at the office that’s most convenient for you or a remote appointment if you prefer. Please call us on 01492 860420 or contact the team online
