Docklands Solicitor

Latest legal news from Docklands Solicitors, Kaslers Solicitors LLP.

Monday 11 April 2011

 

When should I update my Will?

- Many Will writers would have you believe the slightest change in your circumstances should result in a re-write - this is not strictly necessary, but certainly after any major change you should review whether your existing Will is going to do what you need it to, and it is best practice to review its provisions every 3-5 years in any case, as it may be changes in the law that governs inheritance which impacts on what your Will is or is not going to do.

- Major changes include: marriage or remarriage, as if you become a ‘different legal entity’ to when you wrote your existing Will, it will be invalid.

- Should you separate from your spouse/civil partner, the first thing you should do after moving out or changing the locks is to update your Will, as if you die before your divorce is finalised your soon-to-be-ex will still be entitled to inherit a large part of your estate, which is probably not what you would want!

- If you have children since last writing your Will, you will need to update it to appoint guardians and make changes to the distribution of your estate, and once your children reach over 18 you may wish to include them as Executors – make them earn their inheritance!

- If you divorce, or if anybody appointed within your Will predeceases you, you should update it to replace those appointees and ensure those parts of your Will do not fail, and become invalid. - Professionally drafted Wills should include ‘substitution’ clauses to allow for eg the children of beneficiaries to inherit in their place to make the Will more flexible.

- For peace of mind take advantage of our Free Will Audit service to ensure yours is actually going to do what you think will and need it to.

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Call Michael Breeze on 07900 195 195 or call 0845 270 2511 to if you need legal advise about any of these issues

Kaslers Solicitors LLP is a limited liability partnership registered in England under LLP no. OC310653; authorised and regulated by the Solicitors Regulation Authority under reg no 408936; governed by professional rules set out in the Code of Conduct click here to visit and has its registered office / main trading address at Suite 3, 10 Churchill Square, Kings Hill, West Malling, Kent ME19 4YU - tel: +44 (0)845 270 2511; fax: +44 (0)845 270 2513; DX 92863 West Malling.
The LLP Members are Michael D Breeze LL.B (Hons) (SRA reg no 110184) and Simon McCree Scott LL.B (Hons) (SRA reg no 298202).