Keeping your Will up to date
It is very important that you regularly review your Will, to ensure that it still reflects your wishes and takes into account any changes to circumstances.
It is good to review your Will every couple of years as a minimum, for example, on your birthday.
There are other times when important events take place in your life, where it is helpful to review your Will. These can include when:
– You get married
– You have a child or grandchild born
– Someone in your family dies
– There is a change in your financial circumstances
– You’re going to move abroad
– You separate or divorce from your spouse or partner
– You buy your first home
– You acquire a sum of money
So, making sure your Will is still up to date is as important as writing a Will in the first place. It is the only way to ensure that your wishes will be carried out and that those you care about are properly taken care of.
It’s also good to look at what charitable gifts you are intending to make and keep them up to date as well.
If there are small changes you need or want to make, the simple use of a Codicil can take care of this,
rather than you having to re-write your whole Will.