Do I Need A New Will?
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You may already have a Will – but are you sure it’s up-to-date and reflects your current wishes?
t’s one of the most important documents that you will ever make, but it’s probably the most common one to be put off until a later date. This is one of the many reasons why so many of the adult population do not have a Will, and so die intestate, a situation in which the State decides what happens to your Estate and how it is distributed. You may think that everything will simply pass to your spouse or children – but this is not always the case. Worse still, unmarried couples risk leaving their partner nothing or separated spouses could inherit part of the Estate. In addition, courts may be left to decide who brings up your orphaned children and those you would have gifted to cannot inherit without a Will in place.
Our lives are changing all of the time. When most people write their Will, they base their choices on their circumstances at the time.
If any of the following events have happened since you last wrote a Will, then now is the time to consider updating it:
- Change in relationship
- Family Growth
- Bereavement
- You wish to change your Guardians
- Your children are now old enough to be executors to administer your Estate
- You have received an inheritance and your financial status has changed (you may need Estate Planning to avoid a Huge inheritance Tax bill)
- What if your beneficiaries have a Bankruptcy Order or (BRO) in which case your Estate will be taken by the Trustee in Bankruptcy rather than those you wished would have it (call to see how we can help in this case)
- If your chosen beneficiaries have since passed away
- Maybe your daughter/son in law has now divorced your son/daughter and you wish to remove them as beneficiaries
- Maybe you have a new pet and would like to appoint a Guardian for your pet
Throughout your life circumstances constantly change; at Seasons Law we recommend you update your Will at least every five years or whenever one of the events above gives rise to writing a new Will.
The benefits of organising your Will are:
- Complete peace of mind for you
- Making sure that those you want to inherit do so
Prevents your family from added distress at an already difficult time
If you’re an unmarried couple, you can make sure your partner is provided for. We make it easy and inexpensive to write or update your Will.
