Why you need to keep your Will up to date

Life goes on, even after you’ve made your Will. If you don’t keep it under review, it could lead to significant problems. Let’s find out more.

You already know why it’s essential to make a Will – so you get to choose who receives your assets after you die, and you avoid causing undue stress to your loved ones at a difficult time.

But did you know that even once you have made your Will, you need to go back regularly and make sure it’s still how you want it? If you don’t keep your Will updated, and you die suddenly (it’s not nice to think about, but it can happen), it can lead to issues.

In this article, we’ll look at three reasons to keep your Will updated and avoid these pitfalls.

1 – Because you can live a long time

 Many people decide to make a Will in their 30s when they buy their first property or have children. This is excellent news; the earlier you make your Will, the better. However, if you live well into your 60s, 70s, 80s or beyond, a lot can change in that time. It’s why you need to keep your Will under review.

 A while ago, there was a man who died in his 60s. He made a Will while he was in his 30s, leaving everything to his partner. The problem was he had split up with this partner a couple of years after he made his Will (30+ years ago) and never went back to update it. This was terrible news for the man’s family, who didn’t get any of his assets, but great news for his long-time ex-partner, who received an unexpected windfall!

 2 – Because marriage changes everything

Even if you have already made your Will, you need to update it if you get married. This is because a new marriage cancels your existing Will unless you explicitly specify it first.

This can cause problems for people who get married more than once, especially when people who have been married before marry each other. If you die suddenly and your Will is not up-to-date, your assets go to your next blood relative. If you have children, they are your closest blood relatives, not your partner. Problems arise when these children, perhaps from different previous relationships, don’t get on with each other or with the deceased’s partner.

3 – Because you never know

It’s not nice to think about, but people die. People have accidents or get ill, while others live until they’re 100. You never know what is going to happen to you.

What you do know is when you do eventually die, your loved ones will be devastated. They’ll have to manage all the arrangements during this time, like your funeral. It’s a terribly emotional and stressful time. If your Will isn’t up-to-date and issues arise, it just adds to that stress.

 When you make a Will and keep it updated to reflect all the changes in your life, you can rest assured that this challenging process will be that little bit easier.

How to update your Will

Fortunately, it’s extremely easy to update your Will.

Firstly, you need a solicitor. Please don’t try to do it yourself, no matter how easy it looks when you Google it. Solicitors know how to update a Will properly, covering all eventualities.

Next, you’ll have a meeting with your solicitor. Bring all the paperwork you need, your existing Will, details of all the assets you own. We’ll talk about what you want to do with your assets when you die.

Your solicitor will draft the documents for you to approve. Finally, you sign it (with two witnesses), and we make sure it’s all legally valid.

Don’t leave things to chance. Update your Will as soon as you can.

Find out more from Couchman Hanson

At Couchman Hanson, our solicitors genuinely care about getting the best outcome for you. We’re highly professional, with ‘city’ level talent and experience, but also friendly and welcoming. Everything we do fits with our values of integrity, honesty and authenticity.

Call 01428 722189 or visit couchmanhanson.co.uk