There are a number of events or scenarios in which a Will should be reviewed to see if they require updating. Some of these are as follows:
1) Changes in the law in relation to Inheritance Tax. This can sometimes result in a simpler Will being just as tax efficient as a tax planning Will.
3) Marriage. Marriage cancels any Will you may have, unless it was declared as being made in contemplation of marriage.
4) Change of circumstances-for instance after having children or grandchildren.
5) If an Executor or a Guardian of a child under 18 dies, you may wish to appoint a new one in their place.
6) Children reaching the age of 18-you may then wish to appoint them as Executors of your Will now that they would be able to act.
7) Changes in your assets.
8) Separation or breakdown of a relationship.
9) Acquisition of property in a foreign jurisdiction.
10) The death of someone named as a Beneficiary in your Will.
11) General review for peace of mind.
It may well be that after a review of a Will, no alterations or updates are required. If you wish to review your current Will, please do not hesitate to contact Victoria Hill on 01535 613662 or via email email@example.com
Wills, Trusts and Probate
Tel: 01535 613662