Making a Will is a vital first step, but it is not a “once and done” document. As life changes, your Will should change with it. Otherwise, it may no longer reflect your wishes – or worse, it could create confusion and conflict for your family.
At Rothco Wills & Estate Planning, we regularly meet clients in Alnwick and across Northumberland whose Wills were written many years ago and never revisited. Often, their circumstances have moved on considerably.
How often should you review your Will?
As a general guide, we recommend reviewing your Will:
- At least every three to five years.
- Immediately after any major life event.
A review does not always mean a complete rewrite. Sometimes small updates or a simple amendment can bring everything back into line with your current wishes.
Life events that should trigger a Will review
Certain changes in your life are strong signals that your Will needs attention. Key examples include:
Marriage or entering a civil partnership
In many cases, marriage or entering into a civil partnership can revoke an earlier Will, unless it was specifically made in contemplation of that marriage or partnership. If you have married or formalised a relationship since making your Will, it is essential to check where you stand.
Separation, divorce or relationship breakdown
When relationships change, so do priorities. You may no longer wish an ex-partner to benefit from your estate or to act as your executor. Updating your Will ensures your estate does not pass in a way that no longer reflects your wishes.
New children or grandchildren
The arrival of children or grandchildren often prompts a fresh look at who should inherit and how. You may wish to:
- Appoint or change guardians for children under 18.
- Provide direct gifts or trusts for younger beneficiaries.
- Balance provision fairly between different branches of the family.
Buying or selling property
Moving home, buying additional property or selling assets can all affect the shape of your estate. It is important that your Will keeps pace with these changes, especially if you have specific intentions for a family home, rental property or land.
Changes in wealth, business or investments
If your financial position has changed significantly – for example through inheritance, business growth or the sale of a company – your existing Will may no longer be suitable. You may wish to:
- Rebalance who receives what.
- Consider trusts for tax efficiency or protection.
- Plan for future care fees or long-term support for family members.
Executors, guardians or beneficiaries becoming unsuitable
Over time, the people you have named in your Will may move away, become unwell or no longer be the right choice. In some cases, relationships simply change.
Review your Will to check:
- Are your executors still willing and able to act?
- Are your chosen guardians still the best people for your children?
- Do you still feel comfortable with the way your estate is divided?
What happens if you do not update your Will?
An out-of-date Will can be almost as problematic as having no Will at all. Consequences can include:
- Gifts going to people you no longer wish to benefit.
- Important people, such as new partners or children, being left out.
- Executors or guardians who are no longer suitable.
- Missed opportunities for tax planning or asset protection.
In some situations, this can lead to arguments and even legal challenges, placing a strain on the very people you were trying to protect.
How to review your Will effectively
When you review your Will, consider the following questions:
- Does it still reflect my current family situation and relationships?
- Are all my major assets covered, including property and savings?
- Have I provided fairly and clearly for children, stepchildren and other dependants?
- Are my executors, attorneys and guardians still the right people?
- Does my Will still work with my wider estate planning and tax position?
If the answer to any of these questions is “no” or “I am not sure”, it is time to seek professional advice.
How Rothco Wills & Estate Planning can help
We offer a friendly, straightforward review service for existing Wills, whether or not they were originally drafted by us. Our aim is to make sure your documents still give you the protection and peace of mind you expect.
- Free initial consultation to discuss your current position.
- Clear recommendations on whether you need a new Will or simple amendments.
- Advice on trusts, inheritance tax and care fee planning where relevant.
- Ongoing support so your Will can evolve as your life does.
Is it time to update your Will?
If you are unsure when you last reviewed your Will, that is often a sign it needs another look. A short conversation now can prevent much bigger problems later on.
