Once you have made a Will it is easy to forget to keep it under review, but careful consideration should be given to this if you have a significant change to your circumstances and, in any event, at least every three to five years. Any Will you make will remain valid until it is revoked or changed by you.
You should consider making a new Will or changing your existing Will on the occurrence of any of the following events:
· Marriage, as marriage automatically revokes an existing Will
· Divorce, in which case your Will remains valid but would be read as if your ex-spouse predeceased you
· Should one or more of your beneficiaries predecease you
· If you have children or your family expands
· Should you wish to appoint or change the appointment of any guardians for your children
· If you wish to change the executors of your Will
· Should you change your mind about how you wish your assets to be distributed
It may be possible to make minor amendments to your Will by way of a Codicil, avoiding the need to make a completely new Will, which would be more cost effective. A Codicil is a supplemental document which must be kept with, and read alongside, your Will in the event of your death.
If you would like to discuss this in any further detail, please contact:
Abrahams Dresden articles and guidance notes are for general information purposes only and generally state the law as at the date of publication. The information may not be relied upon as legal advice. We are of course always happy to advise directly on specific issues arising.